Vice President, Yemi Osinbajo, who launched the businesses at an event attended by the founder of Facebook, Mark Zuckerberg, said that Nigeria will be built on the energy and innovation of young people.
Three businesses were selected from the 30 finalists and will be given N3.5 million each as support. The federal government also said that there are plans to support the rest of business towards significant growth.
The three businesses are:
Shuttlers NG – Founded by Damilola Olokesusi and Oluwabusola Majekodunmi. This is a mass transit application that enables professionals to access comfortable and efficient transportation to and from work using seat matching technology.
Tracology – Founded by Emmanuel Okena. It deploys Barcodes/QRcodes to residences serviced by registered utility/waste management companies. These Barcodes/QRcodes are scanned on waste pickup day, thereby verifying customers that have paid using electronic payment. The customers, in turn, pay online and on the delivery day.
Recycle Points – Founded by Alisonu Ukonu. It is a waste recycling and social benefit venture that operates an incentive-based scheme which collects recyclable materials from post consumers and in turn rewards them with ‘points.’ These points, when accumulated, could be used to redeem/shop for household items offered through its iRecycle store.
Speaking during the event, the Vice President said:
We are also looking forward to cooperating with Facebook. I am sure that in the next couple of months we will be working out the ways in which we can cooperate especially with connectivity and some of the great ideas that Mark has for improving connectivity in Africa. We are going to be working very closely with him so that in the next few months we are able to achieve something by way of increased connectivity for all of Africa.