Oxford, FMDQ Partner to Accelerate Nigerian startups

By July 15, 2021 July 17th, 2021 NIPC News, NEWS

The FMDQ Private Markets Limited and the Oxford Foundry, University of Oxford have launched a global partnership to accelerate the growth of Nigeria’s startup ecosystem.

FMDQ Private Markets, a subsidiary of FMDQ Holdings Plc, said in a statement that the partnership would support Nigeria’s future business leaders and high-growth start-ups.

It said that the programme would enable the startups to access the networks and skills needed to grow and sustain their businesses, create jobs and inclusive socio-economic growth, and facilitate the growth of Nigeria’s venture ecosystem.

FMDQ said the accelerator would leverage the global, multidisciplinary networks of Oxford and encourage collaboration and knowledge exchange between the UK and Nigerian angel investment communities as Nigeria’s community matures.

According to FMDQ, the ventures will be supported to develop market solutions in high-potential sectors such as technology, agriculture, green industries, and healthcare.

It said the programme would be focused on three key areas, namely upskill, grow and accelerate, with the facilitation of the training of 20 young Nigerian aspiring entrepreneurs and future leaders through the OXFO-FMDQ Young Entrepreneurial Leaders programme.

It said it would include the promotion of knowledge exchange and shared best practices across Oxford’s and Nigeria’s angel investment communities, through roundtables and relationship building initiatives, unlock vital capital and accelerate five high-potential Nigerian start-ups through a tailor-made OXFO x FMDQ Start-up Bootcamp, to scale up transformative social and economic impact in Nigeria.

The Director of the Oxford Foundry, Ana Bakshi, justified the essence of the partnership as an opportunity to invest in Africa and Nigeria’s entrepreneurial talent and high-growth venture potential.

She was quoted as saying, “There is huge opportunity to invest in the future generation of global entrepreneurs and leaders who will come from across the continent, and this first partnership is an important step to build new relationships and learn from other entrepreneurial ecosystems.

“Now more than ever, it’s vital that we share our resources, access to networks and opportunities, and work together across geographical boundaries to benefit society, create jobs and boost economies. We want to open the Oxford Foundry up to the world, and together, support the next generation of entrepreneurs and leaders to create the purpose-led impact and positive change we all need to see.”

The Chief Executive Officer, FMDQ Group, Bola Onadeko, said, “FMDQ is delighted to be the first global partner of the Oxford Foundry, particularly on this laudable initiative, which emphasises the provision of critical support for high-growth start-up businesses.

“It is vital that young Nigerian start-up companies and high-growth small- and medium-sized enterprises are provided with the skills, networks, mentorship and capital required to overcome the barriers to successfully grow and sustain their businesses, thereby creating employment opportunities and supporting poverty alleviation in the country.

“FMDQ Group, through its wholly-owned subsidiary, FMDQ Private Markets, is excited to work with a credible partner to deliver the key programmes under the partnership to develop and transform Nigeria’s young entrepreneurs, further entrenching the ethos of the Group’s mission – we collaborate to empower markets for economic progress towards delivering prosperity.”

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