Five Nigerian startups have received a total of pound 65,000 in pre-seed funding through the Orange Corners Innovation Fund (OCIF), to support the growth and development of their businesses.
The close-out and award ceremony held recently at the Netherlands Embassy in Lagos, had 20 entrepreneurs completed Cohort 14, selected from about 1,500 applications.
Speaking at the event, Frank Keurhost, the Consul General of the Kingdom of the Netherlands in Lagos, said the programme has so far supported 280 startups and innovative SMEs in Nigeria, with 67 of them generating a cumulative revenue of over pound 12 million.
‘Today is more than a graduation ceremony; it is a celebration of courage, innovation, resilience and the extraordinary potential of young Nigerian entrepreneurs and startups,’ he said.
The five businesses selected for funding are Kiyoko Foods Ltd, which received pound 22,000; Eco Heroes Nigeria Limited, pound 13,000; Leovia Farms Enterprise, pound 12,000; Teazy Tech, pound 10,000; and Neowel Solutions Limited, pound 8,000.
Ayomide Akindolie-Igwe, executive director of FATE Foundation, said the completion of the cohort shows the impact of providing entrepreneurs with knowledge, mentorship and networks.
‘At FATE Foundation, we believe that supporting entrepreneurs goes beyond helping them start businesses.’ ‘It is about equipping them with the knowledge, networks, resources and confidence required to build sustainable businesses that can create value and contribute meaningfully to Nigeria’s economy.’
She added that the selection of 20 entrepreneurs from about 1,500 applicants demonstrates their commitment and resilience.
The Orange Corners Nigeria programme is implemented by FATE Foundation in partnership with the Kingdom of the Netherlands to support entrepreneurship development in Nigeria.