On International Women’s Day, the UK-Nigeria Tech Hub, in partnership with Google for Startups Africa, hosted an inspiring event in Lagos, bringing together key players from the tech ecosystem, investors, and female founders. The event, titled “Her Venture Journey: Addressing Equity Gaps”, focused on empowering women founders by offering actionable insights on securing funding, promoting digital inclusion, and driving innovation in women-led tech businesses.
Key Highlights of the Event
The event featured two main panels: The Investor Panel and The Founder Panel. The Investor Panel included Mary Akpobome, Ashim Egunjobi, and Olaniyi Yusuf, while the Founder Panel showcased Ifeoluwa Dare-Johnson (HealthTracker), Damilola Olokesusi (Shuttlers), and Ifeoma Uddoh (Sheincluded).
The Investor Panel: Insights on Securing Funding
The investors shared their personal journeys and the criteria they use to evaluate startup investments, particularly those led by women. Mary Akpobome highlighted key considerations for founders seeking investment:
- Recognize Your “Why”: Clearly articulate the need for your product or service and the problem it addresses.
- Vision: Demonstrate a long-term and expansive vision for your business.
- Resilience: Show that you have the perseverance to overcome challenges and uncertainties.
- Valuations: Set a reasonable valuation for your startup to attract investor interest.
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The Founder Panel: Lessons from Successful Female Entrepreneurs
The Founder Panel provided valuable advice on positioning startups for investment. Ifeoluwa Dare-Johnson emphasized the importance of traction—investors want to see proof that your business model can generate returns. Damilola Olokesusi shared her experience on the importance of due diligence in choosing the right investors, ensuring alignment with your company’s values and goals.
Google’s Support for Female Founders
As part of the event, Google for Startups Africa announced a significant initiative to support female entrepreneurs in Nigeria. Google awarded $3 million in Google Cloud credits to selected women-led startups in the country. This financial support aims to cover cloud technology-related startup costs, enabling founders to focus on innovation, customer acquisition, and scaling their businesses.
Google for Startups Funding Opportunities
In addition to the Cloud credits, Google revealed several funding programs designed to support female founders:
- Black Founders Fund: Selected startups can receive up to $150,000 in equity-free cash awards, along with $200,000 in Google Cloud credits. The program also offers training and access to a network of mentors. Applications for the third cohort close on March 26, 2023. Learn more here.
- Women Tech Makers: A program dedicated to empowering women in the tech industry. Explore more here.
- Women and Girls Grant: Aiming to empower women and girls by providing grants to startups and initiatives that focus on their development.
With continued support from organizations like Google for Startups Africa, female founders can look forward to a more inclusive and equitable tech ecosystem.
