Integrated Aerial Precision Limited has emerged first place winner of the 2023 Orange Corners Innovation Fund (OCIF).
Five Nigerian start-up entrepreneurs were honored with an award of €120,000 through the renowned Orange Corners Innovation Fund (OCIF).
The winners were the CEO, Integrated Aerial Precision Ltd (1st Position), Femi Adekoya; Founder, Alchol Chemicals Limited (2nd position), Adewale Adesanwo; Founder, Clove Kids International (3rd Position), Queen Uwabuofu; Founder, Grocircular Agro Allied Services Ltd. (4th Position), Rebecca Andeshi, and Founder, Zayith Food Company (5th position), Chidimma Uzoma.
Orange Corners, an initiative of the Kingdom of the Netherlands, was launched in Nigeria in 2019, and has been implemented by FATE Foundation.
The program’s objective is to support and nurture the entrepreneurial spirit in Nigeria by providing a platform for enterprise development, mentoring, market access, and funding opportunities.
Over the years, OCIF has successfully supported and empowered 120 entrepreneurs, granting them a total of over ₦336,000,000 in grant funding for prototype development and testing.
According to Adenike Adeyemi, Executive Director of FATE Foundation:
“We are happy to recognise and provide early-stage funding to these exceptional Nigerian entrepreneurs, helping them create, develop, and test their innovative ideas.
Our goal is to help them build strong business structures, so they can grow their ventures and be ready for future investment opportunities.”
The Orange Corners Innovation Fund pitch competition took place on the 19th and 20th of April 2023, at the FATE Foundation headquarters in Ilupeju, Lagos.
An expert jury panel, comprising Sonia Onovughakpo Fajusigbe, Economic & Trade Adviser at the Netherlands Consulate General; Gbenga Abogan, Manager of Investment at VEROD Capital Management; and Tayo Adelaja, Head of Corporate Affairs at Nigerian Breweries Plc, evaluated and assessed the participating businesses for innovation, feasibility, scalability, sustainability and understanding of the market.
The event was attended by guests, including Ward Karssemeijer, Youth Employment and Entrepreneurship Advisor at Orange Corners.
Expressing his delight, the Special Guest of Honor, Consul General of the Kingdom of Netherlands, Michel Deelen said:
“I commend the entrepreneurial culture of Nigeria and the remarkable progress of the Orange Corners initiative. You can count on the continuous support from The Kingdom of Netherlands for the vibrant entrepreneurship ecosystem in Nigeria.”
