Emma Okonji

In furtherance of its strategic role of stimulating the growth of Micro, Small and Medium Enterprises (MSMEs) in Nigeria, the Development Bank of Nigeria (DBN) has held a pre-selection session to shortlist tech innovators who will be participating in the final pitch during the bank’s annual flagship tech event, called DBN Techpreneur Summit, holding on July 10 in Lagos.

The Techpreneur Summit 2024 seeks to promote and showcase investor-ready technology innovations within Nigeria’s entrepreneurial ecosystem, while providing access to a pipeline of investors and subsequently funding to qualified techprenuers. The theme for the DBN Techpreneur Summit 2024 is, ‘Catalyzing Tech Innovation: Empowering Entrepreneurs for Regenerative Growth.’

There were over 100 tech companies on the longlist of entries received for the pitch at the expiration of the timeline for submission of ideas. A panel of evaluators consisting of industry leaders held the pre-selection session to assess each submitted entry in line with the criteria and guidelines set for the participating innovators. At the end of the pre-screening, a total of 20 tech innovators drawn from across fintech, health tech, transport, IOT and other segments scaled the hurdles to the final pitch stage.  

Commenting on the significance of the pre-selection process, Managing Director/CEO, Development Bank of Nigeria, Dr. Tony Okpanachi, said it was a very important stage to narrow the space for the best among equals to be determined, adding that it was also a cost and time-saving mechanism for both the innovators and evaluators.  He said pre-selection is an opportunity for innovators to enhance their chances of success in the pitch competition. 

The DBN chief affirmed that by supporting MSMEs and tech innovators to grow and scale up, the Development Bank of Nigeria plays a pivotal role in unlocking the potential of micro and medium enterprises, as well as the tech industry in Nigeria and empowering them to contribute significantly to the real Gross Domestic Product (GDP) growth.

Affirming the importance of the screening session, Managing Director of Addium Capital, Mrs. Comfort Aruosa-Osemwegie, stated that it was aimed at making the tech founders ready for potential investors, who will also be attending this year’s Techpreneur Summit.

She disclosed that through a partnership between DBN and Addium, a private equity and venture capital firm, an exclusive Deal Room will hold within the summit and it will serve as a platform for techpreneurs to meet with potential investors directly.