Five Nigerian start-up entrepreneurs have €120,000 through the renowned Orange Corners Innovation Fund (OCIF).
The winners, Femi Adekoya, CEO, Integrated Aerial Precision Ltd; Adewale Adesanwo, Founder, Alchol Chemicals Limited ; Queen Uwabuofu, Founder, Clove Kids International; Rebecca Andeshi, Founder, Grocircular Agro Allied Services Ltd and Chidimma Uzoma, Founder, Zayith Food Company.
Orange Corners, an initiative of the Kingdom of the Netherlands, was launched in Nigeria in 2019 and has been implemented by FATE Foundation.
The program’s objective is to support and nurture the entrepreneurial spirit in Nigeria by providing a platform for enterprise development, mentoring, market access, and funding opportunities.
Over the years, OCIF has successfully supported and empowered 120 entrepreneurs, granting them a total of over N336,000,000 (Three Hundred and Thirty-Six Million Naira) in grant funding for prototype development and testing.
“We are happy to recognise and provide early-stage funding to these exceptional Nigerian entrepreneurs, helping them create, develop, and test their innovative ideas. Our goal is to help them build strong business structures, so they can grow their ventures and be ready for future investment opportunities,” Adenike Adeyemi, Executive Director of FATE Foundation said.
The Orange Corners Innovation Fund pitch competition took place on the 19th and 20th of April 2023, at the FATE Foundation headquarters in Ilupeju, Lagos.
An expert jury panel, comprising Sonia Onovughakpo Fajusigbe, Economic & Trade Adviser at the Netherlands Consulate General; Gbenga Abogan, Manager of Investment at VEROD Capital Management; and Tayo Adelaja, Head of Corporate Affairs at Nigerian Breweries Plc, evaluated and assessed the participating businesses for innovation, feasibility, scalability, sustainability and understanding of the market. The event was attended by esteemed guests, including Ward Karssemeijer, Youth Employment and Entrepreneurship Advisor at Orange Corners.
Expressing his delight, the Special Guest of Honor, His Excellency, Michel Deelen, Consul General of the Kingdom of Netherlands said, “I commend the entrepreneurial culture of Nigeria and the remarkable progress of the Orange Corners initiative. You can count on the continuous support from The Kingdom of Netherlands for the vibrant entrepreneurship ecosystem in Nigeria”.