The Nigerian Content Development and Monitoring Board (NCDMB) in partnership with Founder Institute (FI) is set to launch 17 new portfolio companies. These companies have passed through the Board’s Technology Incubation and Innovation Centre (TIIC).
This is in line with the furtherance of its mandate to catalyse research and development and support startups in the energy industry. The launch of the companies will hold on Thursday, August 24, 2023, in Yenagoa, Bayelsa State. The event will witness international and local venture capitalists, investors, and product development subject matter experts who might be interested in investing or partnering the new portfolio companies.
Commenting on the initiative, the executive secretary NCDMB, Engr. Simbi Kesiye Wabote, explained that, the board deploys an end-to-end strategy in its projects and does not relent until ideas that it supports are fully deployed, commercialised and begin to solve societal problems.
He noted that, some of the solutions proposed by the founders will impact key sectors of the economy beyond the oil and gas sector. He added that Nigerian youths are innovative and creative. They are looking for a platform they can get and NCDMB will be that platform.
Speaking ahead of the launch, the director of Planning, Research, and Development, NCDMB, Alhaji Abdulmalik Halilu explained that as part of the programme, at the end of the 7 months intense tutelage, 17 of the incubates completed the business case development phase and are now positioned to establish startup companies and attract investors.
He stated that the incubation process will continue after the launch and will include validation, startup process, assuring that the board will handhold the companies until their minimum viable products are introduced in the market and become successful.
By nurturing these talents, NCDMB is not only fostering job creation but also cultivating a pool of capable individuals poised to drive growth across various industries.