Group launches network… To boost Nigeria’s entrepreneurial ecosystem, economy
To build and sustain a vibrant entrepreneurial ecosystem, Endeavor, a leading high impact free enterprise movement has launched in Nigeria to provide entrepreneurs in the country access to the right mix of talent, funding and networks that could transform the nation’s economy through large-scale job creation, investment, and innovation.
According to the network, Lagos with a population of 20 million people is one of the leading centres of high-growth entrepreneurship across the continent. Lagos entrepreneurship ecosystem, valued at $2 billion, is believed to be the most valuable in Africa, despite having many fewer companies than Cape Town, Africa’s largest ecosystem as measured by number of companies.
Speaking at the launch of the network in Lagos yesterday, Managing Director, Endeavor Nigeria, Eloho Omame said the network wants to support the Lagos Ecosystem from the ground up, by working with successful founders of businesses and encourage them to invest their time and capital in the local entrepreneurs through mentoring as well as angel investing. Omame said this would help to create a virtual circle of entrepreneurship whereby the best next generation of founders are learning from the best current generation.
Director, Insight Research, Endeavor, Ret Moris stressed that their focus is on those who are interested in scaling their businesses. He noted that they have in place a rigorous selection process where entrepreneurs meet with different mentors and have their businesses evaluated and provided advice.
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