July 29, 2020
Stanbic IBTC Bank, a member of Standard Bank Group, has continued to support entrepreneurs using technology to solve some of the continent’s most pressing challenges. Through its partnership with the Founder Institute Lagos, Stanbic IBTC helps tech startups with the structure, feedback, and support network needed for success.
Founder Institute recently held the first online graduation ceremony, tagged “Velocity Mini” to celebrate the Cohort II graduates who have passed through a 14-week hardcore, Navy-seal type curriculum program.
The Velocity Mini is the digital version of the Velocity Conference held at the end of every Cohort, to honour founders that successfully scaled through the program. Twenty-three portfolio companies who have gone through this program will now be launching new technology-based companies.
Speaking about the event, Wole Adeniyi, Chief Executive, Stanbic IBTC Bank, said that the partnership with Founder Institute is valued and aligns with the core of Stanbic IBTC’s existence as a business.
According to him, Stanbic IBTC provides opportunities for entrepreneurs to have access to market and veritable partners; they need to scale up their businesses. He encouraged the development of ethical value propositions by entrepreneurs, as the way to thrive in a highly competitive market place.
Wole Adeniyi also noted that the partnership reflects the company’s strategic drive for growing Africa, in line with its purpose statement, which reads: “Africa is our home and we drive her growth.” He assured the newly graduated entrepreneurs of opportunities to connect with partners, angel investors as well as the Founder Institute mentors, to grow their businesses.
Ayowande Adalemo, Lead Director, Founder Institute, Lagos, stated that the Founder Institute pre-seed program is based on its interest in developing idea-stage entrepreneurs as well as creating a support network of experienced startup and ecosystem leaders as mentors.
Addressing the graduates, he said: “You can come into the system with a loosely formed idea, but after the 14 weeks, you will be graduating as a CEO with a company that can go global and a network that money cannot buy.”
The programme has come to be known as the Stanbic IBTC Founder Institute, Lagos Cohort, following the institute’s partnership with Stanbic IBTC Bank.
The Founder Institute, as the world’s largest pre-seed startup accelerator, provides high-potential entrepreneurs and teams with the critical support network and structured process needed to build an enduring company. It has supported over 4,300 companies across more than 200 cities in 6 continents and presented in 9 different languages. In total, The Founder Institute Alumni have raised over $950million and are worth an estimated $20billion.
The Stanbic IBTC Founder Institute Lagos has now made a call for intending idea-stage entrepreneurs who are interested in sharpening and growing their ideas and becoming alumni of the Founder Institute to send in applications for Cohort III via https://fi.co/apply