Business Post Contributor
By Sodeinde Temidayo David
Sterling Bank Plc has announced its partnership with Founder Institute (FI), the world largest pre-seed accelerator programme, to further connect early-stage startup resources for entrepreneurs in Nigeria.
Sterling Bank said it went into the collaboration to ensure that more organizations benefit from FI’s globally tested corporate innovation programme that will help them become more innovative and disruptive entities.
Both parties will provide resources for startups looking to launch or scale their business and also produce amazing benefits for companies in Nigeria that will leverage Sterling Bank’s advanced industry experience and Founder Institute’s global curriculum.
Speaking of the partnership, the Managing Director and Chief Executive Officer of Sterling Bank, Mr Abubakar Suleiman, noted that the partnership represents a continuing commitment to innovation as an accelerator of development and a creator of value to society.
“Along with our HEART strategy as a bank, our service delivery and our entire operational structure rely heavily on innovation and agile technology,” he added.
Also speaking on the partnership, FI’s Managing Director, Mr Ifedy Eze, expressed his thrill, stating that the combination of Sterling Bank’s robust tech support architecture and FI’s globally syndicated and locally validated curriculum will add mileage to the founders’ journey, especially at the very critical early stages when most startups fail.
“We are excited to be partnering with one of the most technology-friendly banks in Nigeria to unlock more value for founders of tech startups solving problems across Nigeria.
“Through this partnership, founders will receive support across critical areas like market access, tech infrastructure support, legal and regulatory compliance, and investor readiness, among others.
“Over the years, our alumni have demonstrated an 80 per cent success rate, a direct reflection of the quality and impact of the programme,” Mr Eze said.
On his part, the Regional Director for Africa, Founder Institute, Mr Chukwuemeka Fred Agbata said, “Our primary focus at FI Lagos is to add value to early-stage entrepreneurs by providing all the support and resources they need to develop and make their ideas a reality in the current ecosystem.”
Founder Institute graduate companies include fast-rising startups such as Sabiteach, Betastore, Zowasel, 9ijakids, Akowe, Bellafricana, Rentit, Scrapays, ATHLST, Jojolo, and Thinkbikes, among others.
