Oghenevwede Ohwovoriole in Abuja
The National Agency for Science and and Infrastructure (NASENI), has engaged in a partnership with AfriLab to identify 100 local products that are already in the market which are real problem-solvers.
The partnership aims to identify, train and mentor 100 startups with products that are already in the market, refine and improve on them, and give them more visibility in the market.
The Executive Vice Chairman (EVC) of NASENI, Khalil Halilu said the acceleration journey embarked upon by the partnership will at the end identify and refine 100 improved products and solutions and create 100 investable businesses that will create 400 jobs
Speaking at the official launch of the NASENI/AfriLab Accelerated programme on Monday in Abuja. Halilu who was represented by his Special Adviser on ICT Bashir Aliyu, said, “at the end of the programme, we are expected to have 100 refined and improved products and solutions, 100 investable businesses with a potential to create 400 direct and indirect jobs through these businesses.”
He added, “These ventures will be challenged and equipped to move from promising startups to scalable businesses. At the end, the top performing ventures will have the opportunity to present their solutions before seasoned investors, industry leaders, policy makers, strategic partners, not as concepts searching for validation, but as businesses that are ready to receive money as investments to scale. This is one of the reasons AfriLab is particularly proud of these partnerships.”
In her remarks, the Co Executive Director of AfriLab, Nanko Madu, said, “Our mission is to build a thriving innovation ecosystem across Africa by strengthening innovation hubs such as the NASENI Innovation Hub, connecting entrepreneurs to opportunities, and fostering collaborations that transform innovation into sustainable businesses, jobs, and economic growth.
“When the EVC articulated the vision for an innovation ecosystem capable of translating Nigeria’s ingenuity into commercial and industrial success, AfriLabs, of course, was invited to work alongside NASENI to design, build, and operationalise that vision. Together, we mapped out the technology ecosystem.”
On the support that innovators will receive during the programme, she said, “innovators will receive structured support across four critical dimensions.”
These include support in business development, support in product refinement, access to markets, and investment readiness support.
Head, NASENI Innovation hub, Busola Perez-Folayan, in her welcome address said, “Our targets are innovators who have demonstrated that they have real demand and they are ready to scale. So, over four cohorts, we intend to work with 100 innovators in Nigeria, support the development and refinement of 100 minimum viable products, and see at least 400 direct and indirect jobs created as a result.
“Each cohort will run for five months from onboarding and capacity building, through mentorship and milestone tracking, MVP refinement, to investment readiness, and the top performance in every cohort will earn a seat at a live pitch event right here in Abuja, in front of investors who can genuinely move their businesses forward.
“ They’re all going to get acceleration support worth up to $25,000 each per cohort, and this will back the work. This is only possible because we are not doing it alone.”