FMDQ and Oxford Foundry partnership
A global partnership has been launched with FMDQ Private Markets Limited, Africa’s first vertically integrated financial market infrastructure group, to accelerate the growth of Nigeria’s start-up ecosystem and nurture a future generation of young Nigerian leaders in entrepreneurship, through knowledge exchange and collaboration.
The partnership will support Nigeria’s future business leaders and high-growth start-ups to access the networks and skills they need to grow and sustain their businesses, create jobs and inclusive socio-economic growth. It will facilitate the growth of Nigeria’s venture ecosystem.
Nigeria has one of the largest numbers of technology start-ups in Africa and has seen huge successes with companies such as Flutterwave – valued at US$1 billion – and Nigerian-led Paystack, now bought by payments giant, Stripe, for $200 million. Nigeria has been identified as one of the eleven ‘3G’ countries by Citigroup - countries of large growth potential and profitable investment opportunities.
There are an increasing number of programmes to support Nigerian start-ups, with corresponding high demand, implying that there is immense potential and opportunity to create new partnerships to support high-growth potential businesses, and an increased need to access capital. Currently, over 80% of venture funding comes from an entrepreneur’s personal or family savings.
The programme is focused on three areas:
- Oxford x Nigeria Investor Network– Promotion of knowledge exchange and shared best practices across Oxford’s and Nigeria’s angel investment communities, through roundtables and relationship-building initiatives.
- The Young Entrepreneurial Leadership Programme – Facilitation of the training of twenty young Nigerian aspiring entrepreneurs and future leaders through the OXFORD-FMDQ Young Entrepreneurs Leadership programme.
- Innovate Nigeria – Acceleration of five high-potential Nigerian start-ups through a tailor-made accelerator - Innovate Nigeria, to scale up transformative social and economic impact in Nigeria. The programme leverages Oxford’s unparalleled assets, including networks, partnerships and a venture building and leadership curriculum delivered by world leading experts.