Stanbic IBTC, Institute launch 23 start-ups

Stanbic IBTC Bank and the Founder Institute, Lagos, have launched 23 tech-based start-ups.

This is part of their support to entrepreneurs that are using technology to solve some of the continent’s most pressing challenges, the companies  said during the first online graduation ceremony, tagged “Velocity Mini” hosted by Founder Institute.

• Stanbic IBTC forecasts 3.3% contraction for Nigeria’s economy
• Stanbic IBTC tasks employees on digitisation, upskilling

The online graduation was held to celebrate the Cohort II graduates who have passed through a 14-week hard core, Navy-seal type curriculum programme.

Twenty-three portfolio companies who have gone through this programme will now be launching new technology-based companies; and Stanbic IBTC helps the tech start-ups with the structure, feedback, and support network needed for success, the bank said.

Wole Adeniyi, Chief Executive, Stanbic IBTC Bank said the bank provides opportunities for entrepreneurs to have access to market and veritable partners they need to scale up their businesses.

Ayowande Adalemo, Lead Director, Founder Institute, Lagos, 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,” he told the graduates.