After winning the TotalEnergies Startupper Challenge 2024 in Lagos on Tuesday, three Nigerian companies with creative solutions to issues facing the country were given N24 million to expand their concepts.
Out of the 100 startups chosen from 32 African nations taking part in the challenge this year, the three startups secured Nigeria’s spot. At the contest’s big finale, each startup took home N8 million, BrandSpur online news reports.
Among the three startups are Waste2light, which turns plastic waste into 3D-printed wind and hydro components to generate electricity; Coconto, a recycling company that revolutionizes the coconut value chain for a more sustainable and greener future; and Farmci, which is implementing Interkool, a portable solar-powered solution for transporting and preserving agricultural products.
In the challenge’s “Power Up” category, Waste2light’s Emmanuel Abah was named the Best Entrepreneur, and Coconto’s Jacob Abiodun won the “Cycle Up” award for the Best Circular Economy Project.
Farmci’s Yakubu Temtope was recognised as the “Innov Up” category’s Top Entrepreneur.
The fourth edition of the startupper challenge, according to Dr. Matthieu Bouyer, Country Chair of TotalEnergies Nigeria, aims to assist the local economy of the nation and establish an entrepreneurial environment where young people would receive visible mentoring.
Continuing, to Dr. Bouyer, a jury composed of professionals and prosperous businesspeople carefully chose the winners in each of the three categories.
Following the United Nations’ Sustainable Development Goals, he continued, they were evaluated based on their innovative nature, viability, and development potential.
He had this to say: “TotalEnergies is committed to working closely with its host communities and would continue to support many projects in areas of health, education, and environmental conservation.
“We wish to promote innovation and entrepreneurship, lend its support to the socio-economic development of the countries in which the company operates, by supporting the most innovative young entrepreneurs in the realization of their projects,” he added.
Mrs. Adesua Adewale, general manager of TotalEnergies Country Services, observed that with every new iteration of the startup challenge, the number of young African entrepreneurs participating was rising. Disclosing that 11,000 complete files were uploaded to the platform for the first edition, and 14,000 applications were filed for the fourth edition, with roughly 1,500 of those applications coming from Nigeria.
Adewale pointed out that the numbers demonstrated young people’s aspirations to take on and develop novel projects and solutions to responsibly address pressing challenges. The company would provide three months of training to the winners on how to use the N8 million to expand their businesses, she added.
Startups under three years old or those developing a business concept that benefits their communities and/or the environment are the focus of the challenge.
