Startup awards will drive regional integration, job creation, says ECOWAS
The Economic Community of West African States says its Startup Awards will drive regional integration, industrialisation and inclusion by producing scalable West African businesses that survive, create jobs and expand.
ECOWAS commissioner for economic affairs and agriculture, Dehpue Zuo, stated this at the opening ceremony of the 2nd ECOWAS Startup Awards on Monday in Abuja.
Mr Zuo explained that the programme was not just a competition but a platform for building regional champions. He said the response to the second edition was remarkable, with 6,679 registrations from across the 12 ECOWAS Member States.
According to him, the organisers received 1,499 applications, and 60 startups emerged as finalists after a rigorous evaluation supported by the International Trade Centre.
The 60 finalists represent six strategic sectors: agriculture and food systems, fintech, healthtech, edutech and skills development, cleantech and green innovation, and tourism, hospitality and travel tech.
Mr Zuo said women-led enterprises constituted a significant portion of the finalists, reflecting ECOWAS’ commitment to inclusive entrepreneurship.
He said all 60 finalists had undergone a one-week intensive masterclass on business validation, market access, investment readiness and fundraising.
Mr Zuo added that the top three winners would receive $30,000, $20,000 and $15,000, respectively.
Mr Zuo said that beyond the prize money, all 60 participants would benefit from a six-month acceleration programme, mentorship, investor access, and enrolment in the ECOWAS Startup Network and the ECOWAS Private Sector Development Academy.
Giving an overview of the programme, ECOWAS acting director (private sector and industry) Peter Oluonye said the inaugural edition in 2021 proved the region had no shortage of innovative talent.
“If you got 60 from over 10,000 attempts, how rigorous can the process be? I congratulate the 60. The physical phase from Sept. 28 to 30 will feature policy dialogue, regional pitch finals, structured B2B engagements and investor deal rooms,” he said.
(NAN)
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