May 18, 2019

Obaseki’s reforms: Four startups get N1.2m funding from investors

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In furtherance of Governor Godwin Obaseki’s commitment to promoting innovation, science and technology development in the state, the Edo State Startup Fund Initiative has attracted N1.2 million for four startups to scale their businesses.

During the presentation of cheques to the startups, Focal Person, Edo State Social Investment Programme, Osayuwame Aladeselu, urged the beneficiaries to make good use of the fund as officials of the state Social Investment Programme will visit them to monitor the progress of their businesses.

Aladeselu said the four beneficiaries were selected among other participants who took part in an interactive session with the investors, who provided the funding at the conclusion of interviews to ascertain the viability of their ideas.

She noted that the four beneficiaries were selected for the funding to enable them to scale their businesses, adding that one of the investors, Mr Samson Omokhui of God’s Time Engineering, provided the sum of N1,000,000.

Two of the beneficiaries, according to her, are Mr Agbebaku Monday and Mr Ihuegbian Friday, who received cheques of N500,000.00 each.

The focal person added that another investor, who wished to remain anonymous, provided N200,000.00 for two women, namely, Mrs Edo-Iyamu Christiana and Mrs Jakpa Opeyemi, who were given 100,000.00 each.

She added that Mrs Edo-Iyamu runs a catering company, while Mrs Jakpa Opeyemi is into fashion and design.

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One of the beneficiaries, Mr Agbebaku Monday, said, “With this support, I promise to use the money to grow my business and also create job opportunities by training other persons interested in learning how to construct doors, gates and car stands using steel.”

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