Most SMEs spring up from new innovations and the process of business establishments are necessary for economic prosperity as new value chains are created in the process. However, in Africa, most Startups are stifled by the lack of access to adequate capital to either help their businesses scale or commercialize their innovative products.
Through the Startup & Innovations Grant Program, Africa for Africa Youth Initiative provides requisite capital along with business development coaching programs to help young budding entrepreneurs and innovators across African Tertiary Institutions startup businesses and scale successfully.
At the maiden edition of Africa for Africa Startup & Innovations Grant Ceremony, full startup funding was made available to two entrepreneurs who have developed very innovative products which were deemed most viable by the Grants Panel; Johnson Obute from Benue State University, Nigeria received funding for his innovative product developed from a signature process which he termed Solvent Reaction Pyrolysis, this process facilitates the conversion of wastewater sachets into quality shoe polish – a first of its kind in Africa, David Travis Uche from the University of Lagos, Nigeria also received funding for the startup of his tech company which has developed a software to help retail businesses gain easy access to the online market and accelerate sales.
Africa for Africa Youth Initiative is committed to driving sustainable development in the African continent through education, strategic engagement and support of our young people and we will continue to empower African youths to innovate, start businesses and contribute to the attainment of a prosperous African economy.