Innovest Afrika Holds Summit, Demo Day

A firm, Innovest Afrika has concluded its Afrika Investment Summit 2.0 and Demo Day with the theme “Catalysing Investments in African Startups.”

The event, which was held on Thursday at the Work and Connect Hub, Jabi, Abuja, brought together Africa’s most innovative entrepreneurs, leading investors, and startup ecosystem partners to celebrate innovation, collaboration, and impact within the Abuja and Nigerian startup ecosystems.

The keynote speaker, Femi Moito, the founder and CEO of Innovest Afrika, shared his expertise and experiences in building and scaling startups across Nigeria and the African continent.

The highlight of the event was the Demo Day, where 13 founders from the Innovest Ignite Accelerator Cohort showcased groundbreaking solutions addressing critical challenges in sectors such as fintech, healthtech, agritech, and greentech.

Seven startups from the Innovest Ignite Accelerator program secured investment commitments from Innovest Afrika during the Demo Day. These startups, which will receive funding ranging from $10,000 to $20,000, include: MyItura, Sunrisal, Agrovesto, Innocul8, Mytherapist.ng, Stecs, and Xchangebox.

Moito expressed his enthusiasm for the event’s outcomes, saying “Our goal with the Investment Summit 2.0 and Demo Day was to ignite conversations that drive action and to bridge the gap between innovative ideas and the funding needed to scale them. One of the major challenges African founders face is unlocking funding from global investor networks.

For every dollar invested in startups globally, only two cents go to founders of color, and less than one cent ends up on the African continent. We are committed to bridging this gap and driving more investment dollars to founders of African descent.”

The event also featured an insightful panel discussion with notable entrepreneurs, including Motunrayo Opayinka, founder of Womenovate; Gbenga Adigun, founder of Scrella; and Oladipo Aseinde, vo-gounder of Buypower. The session was moderated by Cynthia Chisom, an Abuja-based tech ecosystem enabler.