SIA Foundation Awards $10,000 to Winners of SIA Startup Foundry Program
The Sola and Ibukun Adeyinka (SIA) Foundation, rooted in Lagos and fervently dedicated to fostering social and economic inclusion throughout Africa, proudly marked the culmination of its first ever SIA Startup Foundry Program. This initiative, held in tandem with The Nest Innovation Technology Park, was designed to propel African entrepreneurship to new heights by supplying emerging businesses with the critical resources needed for growth.
Over an intense four-week bootcamp, 40 burgeoning businesses were privy to comprehensive instruction on vital business subjects. They benefited from the seasoned wisdom of experts in fields ranging from business development and financial management to the art of the pitch and beyond. At the close of this demanding selection process, five standout businesses—OJ Technologies, Greenera Technologies, Verd Foods, Natal Cares, and Dash Studios—emerged victorious. They were collectively awarded a sum of $10,000 in grant funding to inject into their budding enterprises.
Far from your ordinary business development course, the SIA Startup Foundry Program was universally commended by its participants for the tangible results it delivered. Businesses reported up to a 40% uptick in sales, forged strategic partnerships, and saw a boost in team productivity. Armed with new knowledge and connections, participants left the program ready to tackle the startup landscape with newfound confidence.
“We are immensely proud of the dedicated innovators who took part in our inaugural SIA Startup Foundry,” expressed Mr. Sola Adeyinka, SIA Foundation Co-Chair. “Their drive and dedication reflect the very ethos of African entrepreneurship and the vibrant potential of our business ecosystem.”
The collaboration with The Nest Innovation Technology Park was crucial, offering a structured and supportive environment for the participating businesses. Oluwajoba Oloba, Co-Founder of The Nest, voiced his optimism for the future, stating, “Our efforts with the SIA Foundation are a testament to our commitment to nurturing innovative, scalable businesses that promise not only economic growth but a brighter, more vibrant Africa.”
Gift Muoneke, a grateful grant beneficiary, declared, “The SIA Startup Foundry is a must for startups aiming to scale their operations.”
“The program showed me how to implement structures and strategies to ensure no opportunity for revenue is overlooked,” remarked Grace Darko of Verd Foods.
Adding to the chorus of positive feedback, Uche Udekwe of Natal Cares highlighted the training’s emphasis on resilience in the startup landscape and the motivating sense of community among the participants.
In its pledge to support and empower entrepreneurs, the SIA Foundation is determined to make the SIA Startup Foundry Program a yearly event. This aligns with its broader mission to unlock the full potential of entrepreneurs and lay the groundwork for a prosperous Africa teeming with opportunity and innovation.
