FUTA Graduate Wins N1m FTF Entrepreneurship Programme’s Seed Fund
Twenty-six-year-old Biochemistry graduate of the Federal University of Technology Akure, Olawole Omotoso, has won the maiden edition of the Feed Tonight Foundation (FTF) entrepreneurship programme’s prize of N1million seed fund at the final pitch and prize presentation of the initiative held in Lagos.
Welcoming both guests and the participants to the event, a brainchild of Culture Communications, the Managing Director of Culture Communications Ltd., Mr. Yomi Benson, the promoters of Feed Tonight Foundation, explained that in the last nine months, the foundation has fed over five thousand people, with the goal of giving hope and putting smiles on the faces of the hungry, believing that, no one within its areas of influence would go to bed without having something to eat.
According to him “while the foundation is about charity, we thought we need to extend this initiative to entrepreneurship, that is not feeding people with fish but also teach people out to fish. We embark on this not because we have so much fund, but because we believe we need to support young and brilliant Nigerians who have ideas that could have spiral effect on the economy and the society. It is our hope that we will be able to sustain this and make it bigger as the years roll by.
“He enjoined the winner to remember to lift others up, when that time comes. He commended the judges which include; Henry Onukwuba a Senior Fellow of Lagos Business School, Pastor Femi Obaweya, pastor in charge of Province, Lagos Province 47 of RCCG and Eyitemi Taire, Managing Director Techno- Culture Limited for a thorough job in screening over fifty ideas that were submitted by applicants.
In her address, Eyitemi Taire, a member of the screening panel congratulated the ten finalists, whose ideas were considered worthy of been given an opportunity to participate in the final pitch presentation. She urged them to keep their dreams alive either they win the contest or not.
According to her, parameters used in evaluating the individual ideas/applications include; presentation, market validation, clear understanding of product and innovation, business model and soft skill (passion about the idea).
The winner of the contest, Olawale Omotoso, Founder and Operations Lead of Flairs Underwears, based in Akure, Ondo State was full of commendation for the foundation for coming up with such idea to help young aspiring entrepreneurs fulfill their dreams. He is of the belief that his win is a very big step forward and a sign that good ideas can get support from bigger entrepreneurs and enjoined other worthy corporate citizens to follow the good example of Culture Communications, the promoter of the Feed Tonight Foundation.
In his words, “this one million naira seed fund will go a long way in expanding our business, as presently the demand for our products (boxers for men) is far more than our production capacity. This will really encourage my team that good idea and hard work pays. I cannot thank Feed Tonight Foundation enough.”