FUTA Tech-PIC Demo Day Rewards Young Entrepreneurs with 14 Million Naira in Business Grants

The Federal University of Technology, Akure (FUTA), through its Technology Park and Incubation Centre (TECH-PIC), in collaboration with key partners, has successfully hosted its Campus Demo Day, rewarding five outstanding student and alumni-led businesses with a combined N14 million.

The event was organised in partnership with Digi Plus Alliance, 8th Gear Venture Studio, Innkeeper, SMEDAN, Sterling Bank and MORE by Meristem.

The initiative was designed to create solutions, connect young innovators with industry, facilitate access to funding and support the launch and growth of startups. It brought together young innovators, industry stakeholders and development partners to create new pathways for student and alumni-led businesses.

A total of 10 startup businesses pitched their ideas at the Campus Demo Day after undergoing a selection process and a six-week acceleration programme.

At the end of the competitive pitch session, five businesses emerged as winners.

The winners are:

1. Zikfash, owned by Intisor Abdulawwal — 1st place, N5 million

2. EDUlink, co-owned by Olowolayemo Goodness and Animashaun Sofiyat — 2nd place, N3 million

3. Edge Sentinel, owned by Austine Chukwuebuka — 3rd place, N2.5 million

4. Harvest IQ, co-owned by Adefehinti Ayomide and Sunday Inioluwa — 4th place, N2.5 million

5. Easely, owned by Okegbemi Josuah — 5th place, N2 million

The winners were applauded for their innovative solutions and encouraged to deploy the funds towards scaling their businesses and creating meaningful impact.

Speaking at the event, the Director of TECH-PIC, Professor Olayinka Obe, said the journey began with more than 80 applications, from which about 30 individuals were selected for training and mentorship.

From the selected participants, 10 outstanding teams eventually emerged to pitch their businesses at the Demo Day.

Professor Obe, who was represented by the Associate Director of TECH-PIC, Dr. Olumuyiwa Adegun, emphasised that the Demo Day was not merely about pitching business ideas but about giving young people hope and creating a platform for them to build bigger and more sustainable ventures.

He encouraged the participants to view the opportunity as more than access to grants, describing it as a foundation for establishing and growing enterprises capable of making real impact.

Professor Obe expressed optimism about the future of innovation at FUTA, stating that the Centre hopes participants would gain valuable insights from the programme.

He disclosed that TECH-PIC plans to onboard more people in the next quarter to explore their innovative ideas and develop their businesses further.

He appreciated all the partners for their continued support and acknowledged the university management, under the leadership of the Vice-Chancellor, for creating an enabling environment for such initiatives to thrive.

The TECH-PIC Director described the Technology Incubation Centre as a special place with a unique role in nurturing ideas and transforming them into viable businesses.

He assured that the Demo Day was only the beginning of more programmes aimed at research commercialisation, entrepreneurship development and positioning FUTA students and alumni to take the lead in innovation.

In her remarks, the Vice-Chancellor of FUTA, Professor Adenike Oladiji, represented by the Deputy Vice-Chancellor, Development, Professor Sunday Oluyamo, described the Demo Day as only a starting point and encouraged the young innovators to project their ideas boldly.

She stressed that innovators must be willing to promote their ideas and make their solutions known, noting that many globally successful ventures started from simple ideas.

Professor Oladiji appreciated the partners for their continued support and assured them that the university management was ready to support promising ideas brought forward, with the aim of structuring and maturing them into viable enterprises.

In a virtual message, Mrs. Anosike Chiemela, Digital Innovation and Entrepreneurship Expert at GIZ Nigeria and ECOWAS, spoke on the importance of digital transformation as a project designed to improve capacity for utilising data and innovation for growth.

She described the Demo Day as a celebration of what is possible when the right support system comes together to create solutions that respond to real needs.

According to her, innovation only creates value when it moves beyond ideas to solutions that people can use, businesses can adopt and markets can sustain.

Mrs. Chiemela stressed that taking ideas to market is not always straightforward, noting that it requires more than technical knowledge.

She said it also demands understanding the customer, validating ideas, developing viable business models and building the capacity required to take solutions to scale.

She explained that through the programme, participants had the opportunity to strengthen their business models, improve their offerings and build the capacity to translate innovation into commercially relevant solutions.

She urged the top 10 businesses to view the Demo Day not simply as a competition but as an opportunity to tell their stories and demonstrate the value of their solutions.

Mrs. Chiemela further emphasised that while the pitch was important, what happens after the competition would be even more critical.

She said the real measure of success would be whether the ideas continue to grow, attract customers, partnerships and investments, and create meaningful social value.

In his address, the CEO of 8th Gear Hub and Venture Studio, Mr. Damilola Obadairo, highlighted the importance of continued support beyond the Demo Day.

He noted that less than five per cent of research work ever reaches the market, explaining that the programme was designed to take research out of the laboratory and into the market.

He explained the journey undertaken by the participants, from information sessions and selection to the six-week acceleration programme and the Demo Day.

Mr. Obadairo stressed that the work would not end with the pitches, noting that selected teams would receive continued support in areas including:

• Digital development

• Leadership and capacity building

• Market testing

• Corporate partnerships

• Intellectual property protection for trademarks and patents

He added that the goal was to help more than 50 per cent of the participants spin up and scale their ideas.

He charged the entrepreneurs to take the commitments contained in their agreements seriously and view the programme as the beginning of a longer journey towards building sustainable businesses.

In his goodwill address, the CEO of Trade Lenda, Mr. Adewunmi Adesina, commended TECH-PIC and all the partners for creating a platform that bridges the gap between research and the market.

He acknowledged the challenges associated with building businesses in Nigeria, noting that many people had previously described the environment as too risky and lacking the right structures.

However, he said the partners chose to take things one step at a time and demonstrate that opportunities exist where others only see limitations.

Mr. Adesina emphasised that Nigeria is not short of talent or ideas, but requires stronger execution capable of turning research into solutions that serve farmers, artisans and small businesses.

He described the Demo Day as evidence that when institutions, development partners and the private sector work together, research can be commercialised to address real national needs and drive economic growth.

The Campus Demo Day ended with stakeholders reaffirming their commitment to supporting innovation, entrepreneurship and the commercialisation of research at FUTA.