Tag: incubators

  • ‘How incubators can help small businesses bloom’

    AFRICAN Business Angel Network President, Tomi Davies, has stressed the need for establishment of   business incubators as part of a wide range of initiatives to enhance and encourage entrepreneurship.

    Davies, who is co-founder of the Lagos Angel Network, said business incubators offer economic space and experienced leadership for entrepreneurs to grow the economy.

    He explained that there is a need to invest in tech hub system to help more small businesses and aspiring entrepreneurs grow or get their ideas off the ground.

    This is because incubators connect entrepreneurs with mentors and experts, who help them navigate the early stages of starting and growing a business.

    On the investment scene in Nigeria, Davies noted: “I’m not sure I’m qualified to speak about anything outside of investments in the early stage entrepreneurial ecosystem of which I am a part, especially as Nigeria is such a large and diverse market. Within the early stage ecosystem, we continue to see increasing investment interest in fintech, agritech, off-grid power and artificial intelligence.”

    He is happy that startups are bringing exciting new ideas into the economy, creating jobs and opportunities for Nigerians.

    He said his network is providing investment support to help more entrepreneurs turn their ideas into new businesses with products and services that are ready for the market.

    His words: “At the Lagos Angel, Network to which I belong, we are always looking for driven entrepreneurial teams with innovative ideas that are solving large-scale problems and want to build companies that can scale across the continent.”

    Davies said he is working with Nigerian Hubs and Angel Networks to provide a structured approach to startup incubation services in the country.

    Business incubators around the country refer eligible entrepreneurs to the network for funding.

  • Incubators boosting agribusiness

    Incubators boosting agribusiness

    International Institute of Tropical Agriculture (IITA) and others are accelerating farms’ growth and agri start-ups through incubation facilities. They do this through training and support to aspiring agri- entrepreneurs, DANIEL ESSIET reports.

    With the agriculture in the spotlight, the innovation and skills to help the industry make strides in food security and sustainability are lacking. Added to this, the industry’s workforce is ageing fast: the average Nigerian farmer is about 60 years old. To keep the industry going, the International Institute for Tropical Agriculture (IITA) and other organisations have begun to train a new generation of farmers that will sustain grow the sector.

    The Deputy Director-General, Partnership for Delivery, IITA, Dr. Kenton Dashiell, said through its incubation programme for young graduates, many people have embraced a change in farming.

    Consequently, he said young people trained under its  IITA Youth Agripreneurs programme now consider agriculture as a viable career and  farming as  a real economic opportunity.

    Participants of the  programme, he explained,  are taken through a process which focuses on  building  agro businesses  deemed crucial to agricultural growth.

    According to him, the young   farmers learn new ways of doing things, scaling up small-scale ventures, managing finances and marketing products. In addition, they are connected to a mentoring programme with more established business runners. The institute boasts of renowned experts that can talk about the fundamentals needed to grow seeds, including seed biology, harvesting, storage and how to conduct variety trials.

    Director, Systems and Site Integration, IITA, Dr Kwesi Atta-Krah said the institute’s entrepreneurship programme has been recognised for its engagement and innovation.

    According to him, the programme teaches young graduates how to turn ideas into food  products that create value in society.

    He said the institute has   opened up a business incubation facility to   help both new and up-and-running agric and farm businesses achieve their goals more quickly by providing guidance and advice on any topic when needed.

    To  boost the project, the  organisation has provided demonstration farms where farmers can be taught various agricultural techniques and technologies, showcase new or improved crops.

    In the demonstration farm, the farmers are taught everything they need to know about agriculture. This includes  steps to  improve crop productivity, increase yields as well as profits and food security.

    He said the institute provides opportunities for farmers to participate in its programmes to access varieties that are best adapted to their production system, and yield produce with high nutritional quality and flavour.

    He  stressed that  young   farmers, have a huge range of things that they have to be really good at if they want to be successful, adding that  the institute is providing young and existing ones the support needed to  grow in the businesses.

    Atta-Krah emphasised that steady growth in agriculture, which is critical for tackling poverty and inequality, as well as supporting domestic demand, also ultimately depends on productivity growth.

    In light of the significance of alleviating poverty, creating decent employment and reducing inequality, he emphasised the importance of creating an enabling environment for agric entrepreneurship, which could be a potent catalyst for change.

    Chief Executive, Business Incubation Platform, Frederick Schreurs said the  business  incubator plays a vital role in injecting commercial business growth into agric business as they work with researchers to bring  new products to the market.

    Schreurs said IITA’s Business Incubation Platform (BIP) supports the institute’s strategic goals and accelerates the commercial development of its proven and profitable R4D technologies, ensuring close alignment with R4D, the institute’s research arm. He said BIP focuses on two avenues of commercial development: the creation of innovative and commercially viable products by IITA scientists, and the initiation and building of a network of public and private-sector partners that will support the activities of small to medium scale agribusiness entrepreneurs.

    Agric incubators have played a vital role in boosting innovation and agric growth. However, many business people are still unaware of the benefits that they can bring to the economy. Founder, Agrihub Nigeria, Aderonke Aderinoye is also in the vanguard of enabling   young and inspiring  farmers  grow their businesses.

    She  has created   an agri incubator space  for inspiring  farmers.

  • Incubators boosting agribusiness

    International Institute of Tropical Agriculture (IITA) and others are accelerating farms’ growth and agri start-ups through incubation facilities. They do this through training and support to aspiring agri- entrepreneurs, DANIEL ESSIET reports.

    With the agriculture in the spotlight, the innovation and skills to help the industry make strides in food security and sustainability are lacking. Added to this, the industry’s workforce is ageing fast: the average Nigerian farmer is about 60 years old. To keep the industry going, the International Institute for Tropical Agriculture (IITA) and other organisations have begun to train a new generation of farmers that will sustain grow the sector.

    The Deputy Director-General, Partnership for Delivery, IITA, Dr. Kenton Dashiell, said through its incubation programme for young graduates, many people have embraced a change in farming.

    Consequently, he said young people trained under its  IITA Youth Agripreneurs programme now consider agriculture as a viable career and  farming as  a real economic opportunity.

    Participants of the  programme, he explained,  are taken through a process which focuses on  building  agro businesses  deemed crucial to agricultural growth.

    According to him, the young   farmers learn new ways of doing things, scaling up small-scale ventures, managing finances and marketing products. In addition, they are connected to a mentoring programme with more established business runners. The institute boasts of renowned experts that can talk about the fundamentals needed to grow seeds, including seed biology, harvesting, storage and how to conduct variety trials.

    Director, Systems and Site Integration, IITA, Dr Kwesi Atta-Krah said the institute’s entrepreneurship programme has been recognised for its engagement and innovation.

    According to him, the programme teaches young graduates how to turn ideas into food  products that create value in society.

    He said the institute has   opened up a business incubation facility to   help both new and up-and-running agric and farm businesses achieve their goals more quickly by providing guidance and advice on any topic when needed.

    To  boost the project, the  organisation has provided demonstration farms where farmers can be taught various agricultural techniques and technologies, showcase new or improved crops.

    In the demonstration farm, the farmers are taught everything they need to know about agriculture. This includes  steps to  improve crop productivity, increase yields as well as profits and food security.

    He said the institute provides opportunities for farmers to participate in its programmes to access varieties that are best adapted to their production system, and yield produce with high nutritional quality and flavour.

    He  stressed that  young   farmers, have a huge range of things that they have to be really good at if they want to be successful, adding that  the institute is providing young and existing ones the support needed to  grow in the businesses.

    Atta-Krah emphasised that steady growth in agriculture, which is critical for tackling poverty and inequality, as well as supporting domestic demand, also ultimately depends on productivity growth.

    In light of the significance of alleviating poverty, creating decent employment and reducing inequality, he emphasised the importance of creating an enabling environment for agric entrepreneurship, which could be a potent catalyst for change.

    Chief Executive, Business Incubation Platform, Frederick Schreurs said the  business  incubator plays a vital role in injecting commercial business growth into agric business as they work with researchers to bring  new products to the market.

    Schreurs said IITA’s Business Incubation Platform (BIP) supports the institute’s strategic goals and accelerates the commercial development of its proven and profitable R4D technologies, ensuring close alignment with R4D, the institute’s research arm. He said BIP focuses on two avenues of commercial development: the creation of innovative and commercially viable products by IITA scientists, and the initiation and building of a network of public and private-sector partners that will support the activities of small to medium scale agribusiness entrepreneurs.

    Agric incubators have played a vital role in boosting innovation and agric growth. However, many business people are still unaware of the benefits that they can bring to the economy. Founder, Agrihub Nigeria, Aderonke Aderinoye is also in the vanguard of enabling   young and inspiring  farmers  grow their businesses.

    She  has created   an agri incubator space  for inspiring  farmers.

  • Rotary donates two incubators to hospital

    Rotary donates two incubators to hospital

    The Rotary Club of Omole Golden, in conjunction with the Office of the Senior Special Assistant to the President on Sustainable Development Goals (OSSAP-SDGS), has donated two incubators to Ifako-Ijaiye General Hospital.

    Making the donation at the paediatrics ward of the hospital, the OSSAP-SDGS, Mrs. Adejoke Orelope-Adefulire, and Rotary Club District 9110 Governor Mr Patrick Ikheloa, harped on the need for more philanthropists and clubs to join the onerous task of reducing maternal and child mortality in Nigeria. The donation was part of the club’s key service projects for the year.

    Mrs. Orelope-Adefulire, who was represented by the consultant to the (OSSAP-SDG), Dr Oyewale Adeoye, said studies have shown that the overbearing heat in recent time has led to an increase in the number of premature births in hospitals; a development which puts much pressure on incubators and phototherapy machines in public health institutions.

    She said her office, as part of its commitment to reducing poverty as well as maternal and infant mortality, was happy to partner Rotary Club of Omole Golden to provide the incubators for the hospital.

    The hospital, according to her, should make good use of the facility to ensure that the desired objectives of the donors, part of which is to save as many babies as possible, were achieved.

    “No life is worth losing and I would like to express our commitment to the preservation of lives, especially those of babies and urge the management of the hospital to make good use of these facilities,” she said.

    Cutting the tape to inuagurate the incubators, the District Governor said the importance of incubators in the preservation of lives, especially babies’ could not be overemphasised.

    He urged well-meaning Nigerians to join the club in promoting the ideals of service and making life more meaningful, especially for the poor.

    “You can see how touching it is to see that a baby that is 25 weeks old is not only delivered, but sustained knowing that without incubators their chances of survival is less than five per cent. I appreciate the Omole Golden for this unique opportunity and pray that more individuals and groups join in the onerous task of preventing infant mortality in the country,” he said.

    President, Rotary Club Omole Golden, Rotarian Titi Sunmonu, described the donation as the star project of her club, adding that maternal and infant mortality was one of the six focal areas of Rotary International, and the club was committed to the prevention of avoidable deaths of babies.

    Earlier, welcoming members of the club, the hospital’s Deputy Medical Director, Dr. Mercy Erivea-Kuti, thanked the club for the incubators.

    Dr. Erivea-Kuti said by the donation, the club was preventing infant mortality as a poor parent making use of the facility is saved about N500,000 which he could have paid out if he patronised private hospital.

    “Any parent whose baby gets into an incubator has been saved nothing less than N500,000 which is the minimum he would have paid in private health facility, but because it has been provided by the club, such parent would only need to procure the essential drugs for the baby,” he said.

    She said the hospital would continue to look forward to such interventions from time to time in order to ensure that as many infants as possible are snatched away from the jaws of death.

  • How agri-business incubators can boost agric, create jobs

    How agri-business incubators can boost agric, create jobs

    Venturing into commercial farming is tasking particularly for young farmers. They are faced with inadequate infrastructure, lack of start-up capital, capacity building and mentoring services, among others. Experts however, say that establishing agri-business incubators is a viable mechanism for creating an environment where youth-led start-ups can be nurtured and allowed to flourish. They note that by giving impetus to promotion of youth-driven agri-business entrepreneurship, agri-business incubators would boost agriculture and create jobs. DANIEL ESSIET writes

    With agriculture as one of the major planks of Federal Government’s current strategic re-focusing on the non-oil sector to diversify the economy, focus appears to be shifting to Nigerian youths. The generational shift in favour of youths is understandable. For one, Nigeria’s farm labour is ageing, requiring young and vibrant farmers to help exploit the nation’s largely unexploited agricultural potentials. Besides, with the current challenges of boosting food security, stakeholders in the agric sector are of the view that there is need to engage many youths  in agricultural production, including farming, seed supply, agri-chemicals, farm machinery, wholesale and distribution, processing, marketing and retail.

    However, with many young agro entrepreneurs already showing keen interest in agri-business, most of them are still faced with the challenges that come with starting off new agro ventures such as inadequate infrastructure, capital and technical knowhow. To turn the tide and unleash the immense potential in agri-business, which is believed to have the capacity to take as many youths as possible off the unemployment market, experts and stakeholders in the agric sector are canvassing the promotion of agri-business incubation centres. The thinking is that agri-business incubation is a viable strategy to transform the agric sector by smoothening the way for new, young farmers’ entrants.

    If Nigeria embraces the strategy, it would only be borrowing a leaf from countries across the globe where it is believed to have worked wonders. Indeed, globally, agri-business incubators serve start-up entrepreneurs, small and medium enterprises and agro-tech innovators among others. Through this initiative, governments across the world have  promoted the establishment of agri-business ventures through a vast pool of commercialisable agro-technologies from Research and Development (R&D) institutes, provided access to infrastructural facilities, made available  capacity building and mentoring, and facilitated funding.

    In most advanced countries such as the US, United Kingdom, and Germany, where the strategy has worked, more agri-business incubation centres provide settlement for activities that cover the entire agri-business spectrum including fisheries, horticulture, veterinary, agri-engineering and food processing. Such agri-business incubators are known to have empowered entrepreneurs who in turn, have created companies that churned out several jobs, thus reducing youth unemployment and also contributing to their country’s Gross Domestic Product (GDP).

    The Nation learnt that while government research institutes in those countries showcase ready-to-commercialise agro-technologies from different segments of the agric sector, there are few agricultural incubators in Nigeria, Africa’s largest economy, to provide access to land, equipment and infrastructure for farm start-ups. This is despite the fact that agri-business incubators have shown the potential to integrate smallholder farmers into the sector in a range of innovative ways that show that small agro-industrial activities can lead to massive job creation in the places where people especially youths live and work.

    Speaking with The Nation, a  specialist organic farming consultant, Mr. Henry Olushola, said there are no structures in Nigeria to provide agricultural business incubator programmes for would-be young farmers. He stressed the need for the government to design programmes to unlock the talent, creativity and innovation amongst youths and motivate them to go into agric-ventures that will help create jobs and reduce unemployment. With the level of entrepreneurial talent in the country, he said his organisation is capable of forming successful businesses with young people who are ready to do something to help grow the economy.

    Olushola assured that through his organisation, young agri-business entrepreneurs would be provided accommodation, land and other start-up supports including seeds, nursery pots and other supplies. Through this strategy, he maintained that a lot of young people will be taken out of the unemployment market. He said this would create new enterprises and drive economic growth.

    This, he pointed out, is because incubation centres create an environment where start-ups can be nurtured and allowed to flourish. “Normally, incubators provide agro-entrepreneurs training and research, which they use to develop and implement innovative solutions to the agricultural problems facing the local communities they work in,” he said.

    Adigun noted that a lot of young Nigerians are now interested in working in agriculture hence, agri-business incubators present tremendous opportunities for economic growth and youth employment. He said it will also result to increase in farm productivity, which will in turn, lead to increase in rural income and livelihood.

    He said by supporting the creation and development of innovative activities, agri-business incubators provide a key link in the improvement of agricultural value chains. He added that with agri-business incubators, government would create a pool of agri-entrepreneurs capable of setting off an agri-business revolution in the country.

    Olushola reiterated his determination to help raise young agro entrepreneurs who will provide broad range of agricultural activities from seed production and other strategic activities in the development of agricultural commodity chains. He, however, said beyond the incubators, investors need to develop sufficient confidence to invest in agri-businesses and in agri-industrial clusters.

    For founder, AgroInfoTech, Mr. Oluwajoba Ayo Okediji, agri-business incubators represent part of the ongoing efforts at increasing economic opportunities for Nigerians. He said there is need to identify potential entrepreneurs in agri-business and offer them value chain development technical support including funds. This, he said, would encourage them to nurture profitable enterprises that can create jobs.

    Okediji announced that his organisation is kick-starting an agri-business incubation in Nigeria. He said his organisation has been working with smallholder farmers and some leading agri-business companies to address challenges in the sector. “We pioneered some solutions to reduce the challenges faced by the stakeholders using new technologies to enable access to market for farmers, information dissemination, farm to table services to mention a few. We need a platform where these solutions can be incubated and accelerated,” he said.

    The expert lamented the lack of facilities in Nigeria primarily focused on agri-business incubation when countries such as Ghana, Tanzania, Kenya, Senegal and Mali have agri-business incubation centres operated by Universities, Business and Research in Agricultural Innovation (UniBRAIN), a facility coordinated by Forum for Agriculture Research in Africa (FARA).

    Okediji said this was what led his organisation to pioneer an Agri-business Innovation Centre – Agro Innovation Hub, in collaboration with the Institute of Agricultural Research and Training, Obafemi Awolowo University (IAR&T), and Moor Plantation, Ibadan. The centre, he explained, would provide a platform where solutions will be created using new technologies to promote agricultural research, innovation and entrepreneurship.

    In Okediji’s words: “We are redefining farming through innovation, using new technologies to make agriculture much more profitable and attractive by collaborating with educational institutions and youth agencies such as the National Youth Service Corps to achieve our goals. We will be organising various youth-driven programmes, events and summits and also offer agri-business incubation, acceleration, and mentorship to interested youths.

    “It will be a hub where various initiatives to add value to the agri-business sector will be launched, collaborating with various stakeholders. We have the consent of some local and foreign based organisations that are willing to collaborate with us to achieve the full purpose of the centre.” He also said his organisation is considering forming public and private partnerships in pursuit of an agricultural sector that meets the job creation requirements as a tool for fighting poverty and food insecurity.

    The Nation learnt that at the sub regional level, for instance, FARA has teamed up with the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) based n Hyderabad, India to establish the West African Agri-Business Resource Incubator (WAARI) in Mali. It is the first ever full-fledged agri-business incubator in West Africa.

    WAARI is one of the six agri-business incubators being established under UniBRAIN project of FARA, with the Agri-Business Incubation (ABI) programme of ICRISAT’s Agri-Business and Innovation Platform (AIP) as the handholding and mentoring partner. The Danish International Development Agency (DANIDA) is financially supporting the initiative in Africa.

    The World Bank projects that agriculture and agri-business together would be a $ 1 trillion industry in sub-Saharan Africa (SSA) by 2030, compared to $313 billion in 2010. “They (agriculture and agri-business) should be at the top of the agenda for economic transformation and development,” the World Bank said.

    Currently, there are successful business incubators in other sectors, especially Information and Communications Technology (ICT), engineering and manufacturing. But with the growing awareness of the importance of extending the initiative to the agric sector, Nigeria’s hope of riding on the back of the agric sector to grow the non-oil sector and create jobs is getting brighter.