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Honeywell Group Launches Accelerator & Investment Vehicle

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Honeywell Group has officially launched its new accelerator and investment vehicle, Itanna.

Led by Tomi Otudeko, Head, Innovation and Sustainability for Honeywell Group and Director of the new venture, Itanna will roll out four-month innovation programmes for tech-enabled Nigerian startups from its newly built Enterprise Factory in Lagos; with its pilot cohort of startups receiving USD $25,000 each in investment from Honeywell Group.

Itanna launches with four cohort companies – Accounteer- providers of online accounting services for SMEs across Africa; KoloPay – a cashless target savings mobile and web application, Tradebuza – an online platform for managing and brokering commodities sourcing and outgrower scheme, and PowerCube -providers of affordable power supply using renewable energy.

Chosen from over 200 applications, each startup will receive training and mentoring from leading industry experts, as well as the opportunity to pitch to Honeywell Group’s network of local and international investors at the company’s inaugural Demo Day, which will take place towards the end of 2018.

On the launch of Itanna, Obafemi Otudeko, Honeywell Group’s Executive Director, says, “Honeywell Group is entrepreneurial to its core – we have almost 50 years’ experience in building Nigerian businesses, across diverse sectors.

As part of our wider portfolio, Itanna allows us to collaborate with the Nigerian tech ecosystem; we will invest patient capital into the startups we work with, and we will also provide world-class mentorship to enrich the business strategy of each cohort. As a corporate, we wanted to transform our approach and add dynamism to how we build our sector play.

Itanna is the platform through which we can fulfil our mission to use enterprise to make our world better.”

Through the programme, Itanna will support and invest in tech-enabled for-profit startups with an existing Minimum Viable Product. Startups accepted into the accelerator will need to demonstrate traction through customer growth or partnerships with customer acquisition enablers, have a clear vision as well as technical capability, sector knowledge and the desire to scale.

The launch of Itanna comes as part of Honeywell Group’s mission to connect technology and innovation by transferring knowledge in business-building and entrepreneurship, as the company looks to cement its position as a facilitator and impactor of growth in key sectors, including tech within Nigeria and across Africa.

Itanna will also be investing in more developed tech startups looking for growth capital. Through the direct investment scheme, the Itanna team will support investee companies to scale by leveraging on Honeywell Group’s network and industry expertise.

Tomi Otudeko, Head, Innovation and Sustainability for Honeywell Group and Director of Itanna concludes, “Itanna was conceived to be a place where Africa’s top talent can bring their ideas, visions, expertise and resources to create a new wave of businesses that will ignite and stimulate economic growth across the the country and the continent.

We are thrilled to be joining an already busy and vibrant tech ecosystem, whilst adding our stamp and sharing decades of business experience.

Itanna is a critical element of Honeywell Group’s innovation strategy, and is well placed as we look towards building this future of tech-enabled businesses.

The calibre of startups who applied to Itanna was striking; and we’re now excited to begin work with our inaugural cohorts.”

Operating from the Enterprise Factory located in Iganmu, the heart of industrial Lagos where businesses are built, the new state of the art 627 square metre collaborative space boasts work spaces, offices, meeting rooms and a conference space.

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4th Tony Elumelu Foundation Entrepreneurship Forum Holds October

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Tony Elumelu flanked by foundation beneficiaries

Africa’s leading entrepreneurship-focused philanthropic organisation, the Tony Elumelu Foundation (TEF), has announced October 25, 2018, as the date for its 4thannual TEF Entrepreneurship Forum.

 

The largest gathering of African entrepreneurs and the broader entrepreneurship ecosystem will unite over 5,000 entrepreneurs, global investors, leaders from the African public and private sectors and developmental organisations at the Federal Palace Hotel, Lagos.

 

The event is a unique opportunity to generate ideas, forge networks and bring policymakers and the private sector together, in a spirit of robust debate and interaction.

 

The 2018 cohort from the Tony Elumelu Entrepreneurship Programme, as well as mentors and partners, will be present, as the culmination of their intensive twelve-week induction.

 

In keeping with the Foundation’s track record―most recently with President Macron of France―of bringing politicians face to face with the new generation of young business women and men shaping Africa, the Forum will include an interactive session with President Uhuru Kenyatta of Kenya and President Nana Akufo-Addo of Ghana, moderated by TEF Founder, Tony O. Elumelu.

 

The Forum will also feature the launch of the TEFConnect, the world’s largest digital platform for African entrepreneurs, dedicated to connecting African entrepreneurs and the entrepreneurship ecosystem.

 

Tony O. Elumelu, founder, stated: “In just four years, we have directly impacted 4,460 entrepreneurs, and we are beginning to see the results – job creation, ripple effects, but most importantly a recognition that Africa’s economic well-being is driven by entrepreneurs: female and male, large and small – they are the engine of our continent’s transformation. We will be championing and celebrating them. This year, we are truly achieving scale and impact; we received over 150,000 applications in 2017 alone, up from 20,000 applications in 2015. We are now calling on the current generation of African success stories and others to partner with us to see how we can all further create impact, genuinely transform millions of lives and increase the number of inspiring stories we will be hearing in Lagos”.

 

Parminder Vir OBE, TEF CEO, stated: “The TEF Entrepreneurship Forum is the only event across the continent that brings together the complete African entrepreneurship ecosystem, demonstrating our commitment to capturing the whole continuum – from the entrepreneurs themselves, governments who must provide enabling environments, to capital, advice and perhaps most importantly access and network”.

 

Inspired by Tony Elumelu’s economic philosophy of Africapitalism and his vision to institutionalise luck and democratise opportunity for a new generation of African entrepreneurs, the Tony Elumelu Foundation has implemented one of the most ambitious entrepreneurship programmes globally.

 

The Programme is a 10-year, $100 million commitment to identify, train, mentor, and fund 10,000 entrepreneurs. Its goal is to invest in businesses that will generate at least 1,000,000 new jobs and contribute at least $10 billion in new annual revenues across Africa.

 

In its 4th year, TEF Entrepreneurship Programme has empowered 4,460 entrepreneurs with a total investment of USD20million; 4,000 funded directly by the Foundation and 460 have been funded by partners.

 

 

 

 

 

 

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SNEPCo MD Calls for Diversification Roadmap as Shell Wins SPE Exhibition Award

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L-R; Lead, Subsurface Shallow Water, Shell Nigeria Exploration and Production Company (SNEPCo), Kefe Amrasa; Outgoing Chairman, Nigeria Council of the Society of Petroleum Engineers, Chikezie Nwozu; Managing Director, Shell Nigeria Exploration and Production Company, Bayo Ojulari and Shell’s Vice President, Health, Safety and Environment, Osa Igiehon, at the presentation of The Best Exhibitor Award to Shell at the just-concluded SPE Nigeria annual conference and exhibition in Lagos.

Bayo Ojulari, managing director, Shell Nigeria Exploration and Production Company (SNEPCo), has harped on economic diversification as a panacea for job creation and rapid economic growth of Nigeria.

 

Ojulari, spoke at the just-concluded annual conference and exhibition of the Nigeria Council of the Society of Petroleum Engineers (SPE) where Shell Companies in Nigeria bagged the award for best exhibitor, beating to the second and third positions Chevron and Exxon Mobil respectively.

 

Speaking on the conference theme, Diversification of the Nigerian Economy – The Oil & Gas Industry as an Enabler, Ojulari called for a diversification roadmap bearing the commitment signature of major stakeholders in the Nigerian project. “With such a roadmap, we are able to track performance year-in year-out while remaining focused.”

 

Ojulari added, “For Nigeria to diversify its economy, it must leverage the low hanging fruits such as agriculture, petrochemicals, which use gas as its feedstock and most importantly, education and technology.”

 

At the awards ceremony, two Shell staff,  Oghogho Effiom and Stella Egwim, received the SPE Nigeria Chairman Medallion awards while 10 other Shell staff got Service awards. The awards demonstrate a strong Shell participation at the 2018 SPE conference at which 20 technical papers were delivered by Shell staff out of 150 papers constituting about 13% from Shell .

 

“Over the years, Shell Companies in Nigeria have continued to demonstrate thought leadership at flagship industry events such as the SPE and we continue to promote self-development and professional affiliation by our staff as part of our wider human capacity development in Nigeria,” said Ojulari who received the best exhibitor award from Mr. Chikezie Nwosu, outgoing SPE Nigeria Council Chairman.

 

Shell’s exhibition stand combined aesthetics, architecture, informative posters, panel discussion sessions, career talks, video presentations and the ever popular Shell Health stand, to be a central attraction at the conference.

 

Visitors who thronged the Shell booth were received by the Lead exhibitor, Kefe and team. The guests were drawn from oil servicing firms, equipment manufacturers, student, professional and academic bodies as well as international and indigenous oil contractors and companies.

 

 

 

 

 

 

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Anambra, Ebonyi and Imo States benefit from MTN’s Emergency Ward Intervention Project

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In the spirit of brightening lives across different states in Nigeria, the MTN Foundation recently extended its Emergency Ward Intervention project to south-east Nigeria, donating medical equipment and health supplies to Anambra, Ebonyi and Imo states.

 

MTN, through its social investment vehicle – MTN Foundation – is dedicated to alleviating the vast health care needs of Nigerians especially for residents in local communities who cannot afford to pay for proper medical services.

 

Staff of the benefiting hospitals: Chukwuemeka Odimegwu Ojukwu University Teaching Hospital,Awka, Anambra; Federal Teaching Hospital Abakaliki (FETHA 1), Ebonyi and Imo State University Teaching Hospital(IMSUTH), Owerri were excited to receive the donations from the Foundation.

 

Dignitaries including health commissioners from various states who attended the handover ceremony applauded MTN for reaching out to them and positively transforming the health care system in their communities.

 

Some of the medical equipment and consumables donated by MTN Foundation include digital patient monitors, stethoscopes, fracture immobilizers, laryngoscopes, and aspiration suction machines, amongst others.

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