SIA Foundation Awards $10,000 to Winners of SIA Startup Foundry Program

Sola and Ibukun Adeyinka (SIA) Foundation, a Lagos-based non-profit dedicated to promoting social and economic inclusion in Africa, successfully concluded its inaugural SIA Startup Foundry Program in collaboration with The Nest Innovation Technology Park. 

Aligned with SIA’s mission to nurture African entrepreneurship, the programme provided essential resources for growth to 40 businesses. Participants underwent an intensive 4 weeks bootcamp on critical business topics, receiving mentorship and guidance from experts in business development, financial management, crafting winning pitches and other subject areas. Following a rigorous selection process, five exceptional businesses – OJ Technologies (winner), Greenera Technologies (1st runner-up), Verd Foods (2nd runner-up), Natal Cares (2nd runner-up), and Dash Studios (2nd runner-up) – were awarded a total of $10,000 in grant funding to fuel their businesses.

The training component of the SIA Startup Foundry Program transcends a typical business development course. Participants lauded the program for empowering them to achieve significant results, like increased sales up to 40%, strategic partnerships, and improved team productivity. The program equips participants with the essential knowledge and connections to navigate the startup world with confidence.

“We are incredibly proud of the passionate innovators who participated in the inaugural SIA Startup Foundry,” said Mr. Sola Adeyinka, SIA Foundation Co-Chair. “This program embodies our commitment to Africa’s entrepreneurial spirit and fostering a thriving business ecosystem.”

The partnership with The Nest Innovation Technology Park proved instrumental in providing the necessary structure and guidance for participating businesses. “Through this program, we envision a profound and lasting impact on both the winners and all participants,” said Oluwajoba Oloba, Co-Founder of The Nest, “Our commitment to nurturing innovative and scalable businesses not only fuels economic growth but also charts a course towards a more prosperous and vibrant Africa. Our partnership with the SIA Foundation stands as a testament to this shared vision and amplifies our collective efforts in driving sustainable change across the continent”

Gift Muoneke, a beneficiary of the grant funding, said: “I will recommend The SIA Startup Foundry to other startups that want to make their business scalable.”

“The SIA Startup Foundry taught me to create structures and strategies that can be put in place to leave no money lying idly on the table,” said Grace Darko of Verd Foods.

Uche Udekwe, Founder of Natal Cares, added: “One of the key lessons from the training is the importance of resilience in the Startup world. The sense of community within the program made us strive for excellence and push boundaries.”

SIA Foundation is committed to making the SIA Startup Foundry Program an annual programme, furthering its mission to empower entrepreneurs and unlock their full potential.