FATE Foundation, in collaboration with the Dutch Entrepreneurial Development Bank, Netherlands Enterprise Agency, and the Netherlands Consulate-General in Lagos, hosted the ‘Capital Unleashed Roundtable’ aimed at supporting startups in Nigeria.
In a statement, the organizers emphasized the crucial role of young entrepreneurs in driving innovation, economic growth, and sustainable development, highlighting the need to enhance access to capital for them.
Adenike Adeyemi, Executive Director of FATE Foundation, expressed excitement about the collaboration, emphasizing its alignment with FATE Foundation’s commitment to fostering job creation, innovation, and addressing finance gaps in Nigeria’s startup ecosystem.
Geoffrey Leeuwen, Minister for Trade and Development Cooperation of the Kingdom of The Netherlands, underscored Nigeria’s emergence as a leading startup ecosystem in Africa and emphasized the pressing need for accessible finance to support this growth.
The objective of the event was to initiate and develop ideas for new financial products that can bridge the early-stage financing gap for startups, ranging between 50,000 and 250,000 euros. This initiative follows previous Dutch initiatives in Nigeria, such as the Orange Corners Innovation Fund and finance provided via FMO subsidiaries.
Despite Nigeria’s vibrant entrepreneurial landscape, many startups face challenges in securing the necessary funding to scale their ventures beyond the initial stages. The ‘Capital Unleashed Roundtable’ aimed to address this gap by fostering partnerships and developing innovative financial solutions to support Nigerian startups.
