The journey is usually engaging for every startup within Owerri and its neighborhood.
Those who registered to participate in the just-concluded Mentorship, Training and Incubation program organized by Ventures Platform iterate.
#STARTUPNIGERIA2019 climaxed with the disbursement of the sum of 2Million Naira equity-free fund to 3 startups across 3 Geopolitical Zones.
“Ego no n’ogwu”
It is popularly said in the South-Eastern part of Nigeria where the name Oluaka hails from that “Ego no n’ogwu”
The above paragraph literally means that making money is not easy.
…The crowd was massive!
Competing with 586,000 founders for the sum of 2Million Naira demands a whole lot of effort; the startups sensed the process is becoming tougher by the day.
At first, I thought it was one of those things we usually hear about but the experience changed my thinking!
The selection procedure only saw 10 startups per hub and in the SE for example we have 4 partnering hubs.
The demo day had 2 Startups from us to travel to IGHub to pitch.
These became tougher for the convener as the whole of the South-Eastern founders paraded crazy ideas in their numbers.
…Before the showdown at Aba
At the end of the Bootcamp, GreenBox Africa and NEGS Sachet Honey emerged listed to participate at the Demo.
GreenBox Africa, Light up Africa.
GREENBOX AFRICA: At GreenBox Africa, we build and manufacture affordable Solar Powered system for Low-income families and small businesses.
Negs Honey Empire
HONEY EMPIRE: We are into the packaging of 100% pure Honey in 20ml sachet using automated packaging machine and making it accessible in street shops.
Due to the uniqueness of this Startups, they went all out for the win at the demo event claiming the second and third position behind a startup from the host hub.
KR Foods emerged the winner with the production and hygienically packaging of pure cooking oil.
While interviewing some of the participants at the program, it became obvious that ideas and passions are not enough to drive our economy.
We also need the necessary skill-set with resources and mentorship from trusted sources to be able to land the next million Naira startup in Africa.
The various startups commended our friends at Ventures Platform for partnering with hubs like Heartland Incubation Hub – a venture of Oluaka Institute of Technology.
Meanwhile, the startups learned and experienced a mindset shift in the way they treated their businesses prior to the bootcamp.
Do you have an idea you are working on and want to push it to its next big stage? Sign up to participate in our next Incubation series.