Nigeria’s retail sector, which includes the start-ups and entrepreneurs, will be getting a boost with the Mentor-Matchup challenge set up by 234Finance.
234Finance.com, a platform that promotes African entrepreneurship by bridging the gap between investors and early stage startups in Africa’s emerging market put up the event in a bid to address unemployment challenge in Nigeria and facilitate skills among youths. 234Finance has ushered a fresh perspective on entrepreneurship by leading the charge with Mentor Matchup Challenge 2.0.
The event which took place last month, at Oriental hotel, Lagos gathered established and emerging entrepreneurs or representatives from their Startups.
Ezinne Nwazulu, Managing Partner, 234Finance succinctly explains; “We put together the Mentor Matchup Challenge 2.0 because there is a huge knowledge gap between millennials and the generation before us.
“There is an urgent need for the two groups to interact, engage and learn from each other. Knowledge they say is power. The Mentor Matchup Challenge 2.0 bridges the knowledge-gap young Africans lack access to, for practical solutions to the challenges they face in running businesses.”
The Mentor-Matchup Challenge 2.0, came just in time to coincide with the end of the year prep and goal setting for the coming year. The event was also spaced into a trifecta of interactive sessions that proved to be both informative and fostered practical learning.
The event started out with ‘Growing a Global Brand in Africa’s Emerging Market’, a panel discussion moderated by the incomparable communication guru Yasmin Ocansey; her expertise cuts across the communications spectrum- including broadcast journalism in both radio and television.
The panel featured Joycee Awosika, CEO of Orìkí, a global agri-beauty brand; Ejike Ugwu, Financier and Head of Moneda; Bunmi George, Fitness Professional and Founder of Shredder Gang; and Buffy Okeke-Ojiudu, a Nigerian Businessman and the CEO of the Zebra Group.
As the conversations swayed among the panelists, it examined the role of an entrepreneur in shaping the outcomes of their startup or brand’s future and its importance of exploring emerging trends in the global economic landscape, while being equipped with the right team to build a sustainable venture.
The Second session was the Mentor-Matchup Challenge. Attendees were distributed according to the following sectors; Media and Entertainment, Financial Services/Fintech, Agribusiness, E-Commerce and Energy. They were seated in the round with an assigned Mentor sharing tips and responding to niggling business challenges.
A mentee was nominated from each sector to summarize learnings from the mini-sessions. The icing on the cake was having Investors sit in for these sessions and share unfiltered knowledge based on their practical experiences.
Among the Investors present were Ngozi Ekeoma- CEO Nepal Oil & Gas Services, Olu Oyinsan- Managing Partner OUI Capital, Prince Okonkwo- Chairman Tetrazzini Foods Limited, and Kayode Fadahunsi- CEO, Properis Holdings.
The Funding expert , Ifedayo, Durosinmi – Etti facilitated an inspiring talk- Accessing Grants For African Startup which happens to be the title of her book that an attendee was lucky to win by answering a riddle session.
The final part of the trifecta was the core purpose of all registered applicants in attendance.
\One elevator pitch after another, the start-ups were tasked with sometimes-gruelling questions from both Judges and investors seated.
The judges in attendance included Joshua Okorie- CEO, Abile Advisory, Senami Johnson- Head, Meristem Capital, Deji Agboage- CEO, BPI Advisory and Alessia Balducci- General Manager, Seedspace.
The pitch event brought out the competitiveness in the attendees, while most did okay, others excelled and were announced Top 6. Alessia Balducci and Alex Ekeoma, Director of Geo Travel and Tours took the stage to announce by virtue of the Judges analysis, the top 2 pitches.
Startups, Ekete and Nic Nax, won $2,500 each equity-free grant, courtesy of Geo Travel and Tours and Nepal Oil & Gas Services Ltd.
The riddle sessions also resulted to multiple winners. Other rewards during the event were two spa sessions from Orìkí Group and a brand new laptop from Abrott Technologies.
The Mentor-Matchup Challenge 2.0 sired from 234Finance’s mandate to promote African entrepreneurship-, which was certainly evident in the caliber of guests that participated.
The event provided a rare and valuable opportunity for budding entrepreneurs to build relationships with businesspersons at the top of their game, free of charge.
BUNMI BAILEY
