Startup Compound in collaboration with Enspire Incubator has officially launched the first edition of MVP Demo Day, an event that creates unique opportunities for young start-ups to share their innovations with the audience and potential Angel investors in Abuja.
Speaking at the event on Saturday, Henry Umunnakwe, Co-Founder of Startup Compound stated that the organization was founded as a platform that provides
Henry Umunnakwe addressing the participants at the event
expertise, tips, and resources needed to build a successful business in Africa.
Henry while sharing the objectives and the full meaning of MVP said it simply meant “Minimum Viable Product” in plain word.
“MVP Demo Day however, is a platform that provides early stage startups/entrepreneurs the opportunity to pitch their idea/product to an audience that includes; investors, industry experts and startup founders, he stated.
Umunnakwe added that having identified the myriads of challenges confronting young entrepreneurs in tech business in Africa and other developing countries of the world, after several years of research, he had come to the realization that start-ups in Africa would always need vibrant platforms for mentorship and support to help them grow their businesses, hence the need to fill the gap.
“Through this event, participating startups gain feedback and advice from attendees, judges and mentors. We also
Oloruntoba addressing the participants at event
use the lean startup methods to help startups quickly achieve product market fit and prepare them for seed funding” he said.
Also speaking at the event Bankole Oloruntoba, Founder of Enspire Incubator, Abuja while sharing some of the contributions of the organization in helping to develop young businesses/startups particularly within the technology ecosystem stated that “Enspire is developing the diversity of
tech ecosystem by implementing outreach projects and partnerships.”
“At Enspire we are ever ready to offer guidance, collaboration and partnership until we see your business grow” he affirmed.
At the event, four young Nigerian start-
Start-ups and the Panel of Judges
ups namely: Medlenna, Nigerian Lands, WeVote and Divria Events had their various pitches with Nigerian Lands emerged the winner, after they had been thoroughly assesed by the Panel of Judges which comprised Doyin of Box Office Abuja and Anita Opaluwa of Ventures Platforms Abuja.