Nigeria e-health startup Doctoora has secured N5 million ($13,796) in funding, by emerging winner of the 25th National Economic Summit Startups Pitch Competition powered by Sterling Bank. Runners-up Tiny Hearts Technology and Loystar got N3 million and N2 million, respectively, in grants as second and third place winners. Gricd Services Limited got N1 million in the audience choice category.
Here Is All You Need To Know
- In 2017, the NESG introduced a Start-ups Pitching Event as part of the annual Nigerian Economic Summit (NES). It aims to help start-ups get the funds they need to grow their business and, in some cases, mentorship and professional advisory services, among others.
- Consecutively in 2018 and 2019, Sterling Bank powered the NES Startups Pitching Events to provide innovators and entrepreneurs from all over Nigeria with opportunity to pitch their start-ups, collaborate and interact with individuals and organisations interested in promoting entrepreneurship.
- Ten ventures made it to this year’s finals, and they are Agriple, Notitia, Phaheem Pharmaceuticals Limited, Tiny Hearts Technology, AfriNET Power Tech Solutions, Doctoora E-Health Ltd, GatePass, Loystar, Gricd Services Limited and Green Axis. They are all early-stage startups registered in Nigeria and are not more than five years old.
“The best way to create value is to solve problems. If you are not solving problems, you cannot make profit or grow in a sustainable manner. As a bank, we enable economic growth by working with businesses that are solving problems in critical sectors of the economy,” Abubakar Suleiman, Chief Executive Officer of Sterling Bank said.
“We realise that young people who are starting up businesses need a lot of support and they also need a roadmap. A lot of them have not run businesses before and, therefore, they are learning as they go.
The Startups Pitching Event is an opportunity to show them what is required to run a successful business. Beyond that, it is also about hope. It is about sending a message to thousands of other young people who are starting off that there are corporate organisations that are out to support and collaborate with them,” he further said.
Related: Startups In Nigeria To Get Up To $27k In New Funding From NES25 Startup Event
A Look At The Top Three Startups In This Edition
Doctoora is a venture founded in 2016 by Dr. Debo Odulana. It aims to create healthier communities in Africa. The startup also provides healthcare professionals with medical facility rentals for their private practice. Doctoora in addition runs an online marketplace where consumers can search and book for healthcare professionals within the Doctoora network.
Tiny Hearts Technology is a startup that crafts innovative medical solutions for thriving communities. It invented “Crib A’glow” unit — a solar-powered foldable phototherapy crib for the treatment of newborn jaundice — for use in hospitals and health centres in both urban and rural communities.
Loystar is a retail and loyalty startup whose platform is designed to help micro, small and medium businesses sell and drive repeat sales in their business.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world