Three Nigerian startups with innovative solutions addressing problems in Nigeria have been awarded the sum of N24 million to scale their ideas after emerging as the winners of the TotalEnergies Startupper Challenge 2024.
The three startups clinched Nigeria’s slot out of the 100 startups to be selected across 32 African countries participating in the challenge this year.
Each of the startups went home with N8 million at the end of the grand finale of the contest held in Lagos on Tuesday.
The three startups include Waste2light, a company producing electricity from wind and hydro sources by converting plastic waste into 3D printed wind and hydro components; Coconto, a recycling startup that transforms the coconut value chain for a greener more sustainable future; and Farmci, which is deploying Interkool, a portable solar-powered solution for preserving and transporting farm produce.
Speaking on the initiative, the Country Chair of TotalEnergies Nigeria, Dr Matthieu Bouyer, said the startupper challenge, in its fourth edition, aimed to support the country’s local economic fabric and create an entrepreneurial ecosystem where youths would be visibly mentored.
“TotalEnergies is committed to working closely with its host communities and would continue to support many projects in areas of health, education, and environmental conservation.
“We wish to promote innovation and entrepreneurship, lend its support to the socio-economic development of the countries in which the company operates, by supporting the most innovative young entrepreneurs in the realization of their projects,” he said.
General Manager of TotalEnergies Country Services, Mrs Adesua Adewale, noted that the participation rate from young African entrepreneurs continued to increase with each new edition of the startup challenge.
The challenge targets startups that are less than three years old or pioneering a business idea with a positive impact on their communities and/or the planet.