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MTN Nigeria has presented offerings from 20 early-stage startups to investors, comprising the inaugural cohort of its 12-week Cloud Accelerators Program in Lagos.
The unveiling was the centrepiece of the occasion, with Ms Linda Saint-Nwafor, the Chief Enterprise Business Officer at MTN Nigeria. She stressed the company’s commitment to enhancing Africa’s digital economy. It accomplishes its objectives by providing modern infrastructure, mentorship, and financial support to startups.
Also, She revealed that roughly 8000 early-stage startups submitted applications for the inaugural cohort of the MTN Cloud Accelerator Program. Out of the over 8000 applicants, only 20 reached the finals and completed the 12-week program.
Saint-Nwafor stated that MTN allocated N100 million to the Cloud Accelerator Program. Each startup will receive N5 million to develop solutions that are developed locally, with the potential to scale globally. She further noted that the financing was meticulously designed to help startups tackle real-world challenges, such as infrastructure deficiencies and market entry.
“At MTN, the Cloud Accelerator Program is not just a symbolic endeavour, it is a commitment to Africa’s digital future and a demand for a future where African solutions are scaled globally,” she stated.
The MTN executive stated that the aim of the MTN Cloud Accelerator Program has consistently been evident. It is offering African founders with the necessary tools, mentorship, and funding to help them grow and thrive.
Also, she highlighted that MTN’s impact isn’t made through funding only. The company is offering an advanced ecosystem developed around the program. Startups get access to MTN’s cloud infrastructure, which is characterised as local, reliable, and consistent.
“They get support in form of access to MTN’s payment collection systems. Additionally, they get access to use MTN’s APIs, USSD, and SMS features,” Saint-Nwafor stated.
Transforming Vision into Tangible Results
Furthermore, Njideka Jack, the General Manager of Enterprise Marketing, commended the first cohort of startups. She noted that the program’s vision had yielded tangible results.
She expressed great enthusiasm about witnessing the realisation of the Cloud Accelerator Program’s vision in providing founders with resources, guidance, and financial support.”
Jack emphasised the importance of Africa transitioning from mere potential to exploits, leveraging the size and quality of its human resources.
“We need to keep highlighting the greatness that exists in our nation and our continent.” “Those who can build should build, and those who can finance should finance. Let us all identify the roles we can take on to promote innovation and keep transforming the story of our nation and our continent,” she stated.
Image source: cloudways.com
On behalf of the initial group of 20 startups, Dr Joseph Olowe conveyed deep appreciation to the MTN leadership and team for establishing a transformative platform.
Olowe stated that MTN Nigeria not only provided the cohort with a map but also educated them on how to manoeuvre through the challenging landscape of business.
Furthermore, he recognised the many hours dedicated by mentors and advisors, who shared personal stories of breakthroughs. One notable one include an innovative idea expected to bring an additional $3,000 in annual revenue for his company’s users.
The valedictorian concluded by saying that the founders anticipated returning to such events not as students, but as successful individuals and collaborators. He believes this highlights the cooperative and lasting quality of the accelerator experience.
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Some of the notable startups present in the 12-week hybrid program include DoktorConnect, headed by Joseph Olowe, which is transforming healthcare from a reactive to a preventive approach by using FDA-certified Internet of Things (IoT) devices.
Also, MYITURA, established by Shina Arogundade, is developing integrated digital health systems throughout Africa.
In Fintech, Regxta, led by Bello Rukayat, aims to serve 600 million underserved Africans with AI-driven digital banking. Creditchek, founded by Kingsley Ibe, is creating machine learning solutions for fraud detection.
In the realm of sustainability, Trashcoin Ltd, established by Olamide Ilesanmi, is transforming recycling with ingenious innovations. Also in recycling is Scrapays Inc., founded by Boluwatife Arewa, is developing decentralised recycling systems. They have already impacted more than 36,700 households.
In Agritech, Agrovesto, headed by Bayo Adewoye, is boosting incomes for more than 20,000 farmers by 30% to 60%. Meanwhile, XChangeBOX, led by Abiola Jimoh, is promoting excellence in agro-commodity trading and exports, among other initiatives.
