Out of 46 participants, Founder Institute Lagos, a pre-seed accelerator startup recently graduated 23 founders who completed Cohort II in an online version of their Velocity event themed “Winning in Uncertain Times”.

Based in Silicon Valley, Founder Institute is said to be the world’s largest pre-seed startup accelerator with 70 chapters across countries. In Nigeria, FI currently has chapters in Lagos and Abuja. 

The programme trains startup founders on how to grow their businesses, provide mentorship support, structure and global network of entrepreneurs needed to start an enduring company. 

To celebrate founders who successfully completed the 14-week FI programme, Velocity, a celebratory event is held at the end of every cohort. Due to the coronavirus pandemic, it held virtually and temporarily renamed Velocity_mini. 

The event saw different seasoned speakers from across the world and they include Prof. Ndubuisi Ekekwe – Founder, Fasmicro; Kola Aina – Founding Partner, Ventures Platform; Jane Egerton-Idehen – Country Manager/Regional Sales Director, Avanti; Tosin Faniro-Dada, Head Start-ups, LSETF; and Simon Turner, Lead Director, FI Accra.

Ndubuisi Ekekwe of Fasmicro, the keynote speaker in a statement shared with smepeaks had reportedly advised founders that“Companies need to identify frictions in the market and leverage these to create value in the form of products and services. It is not about the sophistication of the solution, it is about easing the frictions in the market. Money follows value and the market will congregate where value is perceived. When you create value, raising funds is no longer a one-way street because as you are looking for the funds, the funds would also be looking for you”.

It is noteworthy that in May, Founders Institute partnered Enye Inc — a nonprofit talent accelerator to jointly work with aspiring software engineers and entrepreneurs in the tech through their engineering cohorts. The partnership is geared towards equipping junior developers with the right training and guidance. Asides supporting startup founders in Lagos, they will also train entrepreneurs from the idea to early company stage. 

To participate in the Cohort III, Stanbic IBTC Founder Institute Lagos is now accepting applications and interested applicants can register online


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