Education
UNILAG student won the start-up pitch competition.
UNILAG student won the start-up pitch competition.
The Innovation 2 Marketing (I2M) accelerated incubator program’s start-up pitch competition was won by Barnabas Peter, a 300-level finance student at the University of Lagos (UNILAG).
Research and Innovation Systems for Africa (RISA) Country Head, Mrs. Alice Omisore and a 300-level student of the Department of Finance, University of Lagos (UNILAG), Barnabas Peter who won the start-up pitch competition of the Project Innovation 2 Marketing (I2M) accelerated incubator programme.
The event, which was organized by the institution’s Innovation Technology Management Office (ITMO), highlighted the entrepreneurial prowess of young people chosen from all over the nation. NewsReport indicated
Peter’s innovative venture, Travaye, a digital platform designed to assist tourists, low-income earners, and individuals seeking exciting places and locations to visit, emerged as the overall winner. His success was the result of a rigorous six-week incubation program, where he honed his business acumen and entrepreneurial skills.
The closing ceremony, which was held at the Arthur Mbanefo Digital Research Centre (AMDRC), was witnessed by the Senior Special Assistant (SSA) on Digital Economy, Communication, and Innovation, Jennifer Adighije.
Addressing the first set of cohorts, Adighije identified the critical role of innovation as a key driver of economic growth and competitiveness. She observed that despite Nigeria’s struggling economy, the start-up ecosystem has remained a hub for innovation, a source of hope, and an assurance of a better future for the nation.
She charged the cohorts to seek opportunities for innovative creation as the non-oil sector has suddenly become the new oil boom, attracting local and international investors.
According to her, “over a billion dollars of investment flowed into the Nigerian market from viable start-ups in 2022, which made up 28.4 percent of Africa’s total funded ventures, with Nigeria receiving 29.3 percent of the continent’s total investments.
“As part of the vision to ensure three million talents are empowered, let me say that Nigeria’s hope for economic growth and employment opportunities can only be driven by the growing youthful population as we look ahead.”
The Vice Chancellor, Prof. Folasade Ogunsola, described the talents on display as immeasurable. Represented by the Deputy Vice Chancellor (Management Services), Prof. Lucian Chukwu, the vice chancellor highlighted how immeasurable the I2M project is to the institution.
She said Peter’s victory not only marks a personal achievement but also stands as a testament to the academic excellence and innovative spirit fostered within the institution.
She reiterated the university’s leadership commitment to the creation of an enabling environment that encourages entrepreneurship and innovation through initiatives like the I2M accelerated incubator program.
The director of ITMO, Dr. Abiodun Gbenga-Ilori, said the competition is the culmination of weeks of hard work and dedication by the participants, who had undergone intensive training and mentorship.
She disclosed that 20 of the participants would receive N850,000 each, while another N500,000 would be awarded by the SSA to participants with outstanding start-up ideas as part of plans by the university and its partners to nurture and support aspiring entrepreneurs, as well as equip them with the necessary skills and resources to succeed from ideation to commercialization.
Similarly, Research and Innovation Systems for Africa (RISA) Country Head, Mrs. Alice Omisore, expressed satisfaction with the outcome of the six-week program, noting that the exercise has met her organization’s expectations.
