By Jane Chijioke
About 30 entrepreneurs pitched their businesses to Nigerian and Canadian investors at the first Transnational Ventures Acceleration Programme (TVAP), organised by the University of Lagos (UNILAG).
The programme which is in partnership with Carleton University, Canada featured a two-day intensive training for participants who were both students and non- students of the school.
Initiated to scale up small businesses that have the potential of solving problems, it also allowed participants who are still at the business ideation phase to pitch their ideas.
According to the Deputy Vice Chancellor, UNILAG, Prof Folashade Ogunsola, the pitching would determine if their businesses have potential in attracting investors.
“If you have a product that people believe in, they would invest. The question is, do they find a product or service that people need or was it something they liked.
“So the pitching would determine who gets funding or not. It may also mean that it is a good idea but has not developed to a certain level, so we are getting them there.
So at the end of the day, many of them would know for a fact whether they are ready, whether they need to do more work and whether they have a fundable and scalable project.”
She noted that next year, only those who are already into business would be allowed to participate.
Ogunsola said the programme would help improve the youth and make them job creators, increase the university’s global visibility and also add to the knowledge in the faculty.
The Director, Entrepreneurship and Skill Development Centre UNILAG, Sunday Adebisi said the programme would provide transnational opportunities for Small and Medium Enterprise(SMEs) to connect with their counterparts in Canada and also enable investments in businesses in the country.
The Associate Prof, Carleton University, Canada, Prof Tony Bailetti said he was impressed by the diversity of talents and creativity the students exhibited, stating that the country’s high human capital creates opportunities for entrepreneurship development that would impact on the economy.
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“The diverse opportunities here are incredible. But one challenge here is infrastructure. They do not have the infrastructure to support them but still we need to build their capacity and that is why we are here to give successful local businesses the opportunities to compete in the global market. We brought in nine companies and they are interested in working with Nigeria,” he said.
A participant, Williams Anaka of Brain Logistics, said the programme had equipped him with more business knowledge. He hoped to get partnership to boost his business.
Noting that the programme would be held annually, the Vice Chancellor, Prof. Oluwatoyin Ogundipe said the university was already in talks with the Bank of Industry and the Central Bank of Nigeria to support entrepreneurs running their programmes in the school with the necessary funds.
He added that the school had already earmaked start up grants for students.
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