WHAT YOU NEED TO KNOW ABOUT FOUNDER INSTITUTE IN NIGERIA
WHAT YOU NEED TO KNOW ABOUT FOUNDER INSTITUTE IN NIGERIA
What You Need To Know About Founder Institute In Nigeria
Founder Institute (FI) has launched itself as the world’s largest pre-seed start-up accelerator. The organisation is morale boaster for potential and upcoming entrepreneurs from every part of the world. The FI chapters cut across 180+ cities around the world and have produced graduates whose hard work have birthed companies with over $20B in estimated value. Assisting starters to get traction and funding with a support network of startup experts that are fully committed in seeing a starter emerge successful and have a structured building process in business. The institute was established in 2009, and since then, the centre has aided more than 3,500 startups raise over $800m funding, have traction, get into seed-accelerators, raise a team, manufacture a product, change from being an employee to becoming an entrepreneur, and much more. Some of the major examples of the world’s largest pre-seed accelerator’s graduate startups include, Travel Car, Indo Trading, Udemy, and Simple Reach.
March 19, 2019 marked the official date for the Silicon Valley-based startup accelerator Lagos State chapter launch, signaling its presence in Nigeria. Its emergence in Nigeria is with a major aim geared towards providing and assisting Nigerian startups with the support, network, and structured process they need to build lasting companies and investments which will greatly encourage self-reliance and entrepreneurship for citizens of the sub-Saharan African country. The leadership hierarchy of FI Lagos state chapter include popular local startup leaders like , Wande Adalemo (the CEO Wave3 Wireless), Oluwarotimi Fasuyi (Chief Executive Officer VasDigiMobility), Co-founder GoDo.ng, and the presenter of Tech Trends on Channels TV Chukwuemeka Fred Agbata Jnr., and Ifedy Eze Ralph, Co-founder Maisematrix Consulting. The team is charged with stabilizing the role of FI in Nigeria. The vision, mission and beliefs of the organization are outlined below.
Our VISION is that there are talented people everywhere whose potential can be unlocked to make an impact on the world through entrepreneurship.
Our MISSION is to empower communities of talented and motivated people to build impactful technology-enabled companies worldwide.
- Great companies start with great people.
- Great companies can be built anywhere.
- Great companies are not built alone.
- Anyone can change the world through entrepreneurship.
- Focus is one of a founder’s greatest challenges.
- Startups are much harder than you think.
As Wande Adelomo, the Director, Founder Institute, Lagos State Chapter stated ‘’one of my biggest dreams is to help entrepreneurs succeed. This week I graduated from the leading Institute and Qualified to lead the Lagos Chapter of Founder Institute as a Director,’’ the institution only works with individuals willing to work towards assisting small businesses grow in every part of the world.
Entrepreneurs especially youths with exceptional business ideas are the focal point of the program going round the globe. New ventures and enterprises that have minimum viable product (MVP) in their possession, and also companies at initial stage and yet to gather capital are equally the target of the organisation. Though the establishment is focused on upcoming business men/women, founders with day jobs are equally accepted for the program and they share equity with other participants during the routine.
Guiding the organization is the belief that Great Companies Start with Great People, and the understanding that leadership is the greatest variable in the success or failure of any venture. During its admission process, the concentration of the institute is on Founders versus ideas. With the help of aptitude and personality tests conducted by leading scientists since 2008, identifying starters with the highest potential becomes easier. For this year 2019, over 35,000 submitted application for the program and entrepreneur research featured in The New York Times, CNN and Forbes.
Like Aaron Patzer, the Founder of Mint.com and Founders Institute Mentor noted ‘’the Founder Institute appears to have developed an assessment that any population, any city, university, or country could use to determine who among them has the best shot at succeeding as an entrepreneur.’’ This is great proof the organisation is out for the best, they do not want to waste investment on someone that will amount to nothing. It is equally an avenue for entrepreneurs that mean business and are willing to dedicate and commit to the entire process. The opportunity presented by Founder Institute is rare; no wonder it is the world’s largest pre-seed accelerator.
There is no arguing the fact that the FI program is a giant step towards success for entrepreneurs and new ventures. The design and concentration of the program for founders and teams all throughout the pre-seed stage shows the readiness of the group to achieve its aims and objectives globally. The fact that aspiring entrepreneurs with full time job, solo starters, teams, and founders of established companies that are pre-funded are not exempted from this program makes it all interesting. It is important to remember that the major aim of establishing the FI global program is to help fix lack of structure, mentorship and network which is the major reason why many startups in Nigeria and other parts of the world die in their pre-seed, idea, or early stages. The institute’s program is far more advanced than many online, educational, or free programs run by governments and universities.
Without doubt, the institute is what most Nigerian entrepreneurs need in such time where the government has constantly preached self reliance as the solution to fighting unemployment. It is a platform to willing and capable entrepreneurs all over the country to harness their potentials. For startups that will gain from the program, there should be no reason for failure because aside from the fact that you are given the capital to build your business, mentorship which helps accelerate business growth is guaranteed with the program. Founder Institute is fast spreading across the world and Africa precisely; it will come as no surprise if the activities of the organization reach all 36 states of Nigeria because Nigerian entrepreneurs are hungry for such opportunity. To find out more about the Founders Institute and how to apply for the program, visit www.fi.co.
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