Start-up is the action or process of setting something in motion. An entrepreneur moves from the idea stage to laying down the basis structure of the business/operation of that Idea to securing financing to bring that Idea to life.
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Many reports in the past years have revealed that a lot of businesses in Nigeria fail within their first three to five years. According to Ibukun Obe, Nigerian businesses, unlike their global counterparts struggle to survive through generations due to a lack of knowledge on how to scale over a long period of time.
Ibukun is the CEO of Premier Hub Innovation Centre, an innovation hub located in Akure, the Ondo state capital. It began operations in August this year.
“We set up Premier Hub to give Nigerian entrepreneurs the kind of knowledge and exposure they need to scale their businesses from one generation to other. The South-West is our focus area and we’re starting from Akure,” Ibukun told us during our recently concluded Innovation Tour across South-West Nigeria.
To achieve this, Premier Hub plans to run several training and incubation programmes for entrepreneurs. Starting with the recently concluded i-startup Southwest, an incubation programme for entrepreneurs in the South-Western region of Nigeria, in partnership with the federal government through the National Social Investment Programme (NSIC).
Life Pro Mills and 9 others startups receive grants at the i-Startup Southwest Demo Day
The Demo day marks the end of the I-Startup Southwest incubation program, a Federal Government intervention of the National Social Investment Program (NSIP) under the office the Vice President of the Federal Republic of Nigeria. This program is established to fast track industrialization in Nigeria by providing training and mentorship for a wide range of technology enabled skills while empowering the Nigerian Youths for entrepreneurship.
Speaking during the announcement, Ibukun Obe, CEO and Founder of Premier Hub innovation Center emphasised the importance of the Demo Day, stating that ‘’it is an entrepreneurship initiative intended to support and equip early stage/idea stage start-ups in the south west region who have innovative ideas and start-ups in Agriculture, Manufacturing and ICT. The program supports startups with trainings, mentorship, business modelling, work space and seed funding”,he said.
He further stated that during the program, ideation Bootcamps were held with participants across the south west region of the country and over 75 Co-founders participated in the training modules. At the end of the boot camp, the participants understood the principles of Design thinking and learnt how to develop their business model using business model canvas. They also learnt how to pitch within a few minutes, funding proposals, client relations, and others.
As soon as a startup pops up on the block, five more versions show up soon enough, taking slices of the market share, and if you did not anticipate competition from the beginning it can be pretty difficult to correct your strategy in light of the new boys in town.
Empowerment of Nigerians is at the heart of the social investment programmes of the Federal Government, Vice President Yemi Osinbajo has said.He spoke yesterday in Davos where he led the Nigerian delegation to the yearly World Economic Forum. He also participated in several events, including a packed international business interaction group of investors focused exclusively on Nigeria.
Premier Hub is South West regional innovation hub located in Ondo state, Nigeria. We are a collection of brilliant and tech innovative minds across Nigeria.
We are aimed at fast tracking industrialization in Nigeria by providing training and mentorship for a wide range of technology-related skills while empowering the Nigerian Youths for entrepreneurship and employments.
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