- November 11, 2020
- Posted by: LeadSpace Team
- Category: Uncategorized
Summary — GESAL Technologies emerged winner of the event after a pitch session that lasted close to an hour. The startup will receive a cash grant of $300 (₦100,000), access to SheVentures (FCMB’s Women in Business value proposition) and Hub One’s network of investors as well as potentially partnering with First City Monument Bank (FCMB).
EPIC Pitch — Women in Tech Edition was put together by Hub One, a coworking space and innovation hub owned by First City Monument Bank (FCMB) and managed by Leadspace, to solve some of the problems causing low participation of women in Nigeria’s tech ecosystem. These include “cultural barriers, lack of access to the internet, lack of active role models, poor access to funding and scarce digital skills.”
The program seeks to support selected entrepreneurs by offering them the chance to pitch their tech businesses to top players in the industry in exchange for quality feedback and guidance as well as cash grant, free access to premium office space and potential partnership with FCMB.
“It is our way of supporting early-stage start-ups by providing candid and valuable feedback around the product they have developed, and also to constructively critique their pitching skills,” said Babajide Asegbeloyin, Team Lead, Techspace Ecosystem Business at FCMB said.
He added, “We also want to use it to connect and expose them to early-stage investors within and outside our network.”
Several calls for applications were made in a space of two weeks. Close to 30 applications were received and this was pruned to 5 — HerVest, SOSOCARE, Kadlingual, The Silver Castle & GESAL Technologies— after a transparent selection process involving representatives of FCMB & Passion Incubator, partner of the event.
On July 30th, the final took place online. After a pitching round that lasted up to 1 hour, Maya Horgan Famodu, Managing Director at Ingressive Capital; Nkechi Oguchi, CEO at Ventures Park; and Iyinoluwa Aboyeji, General Partner at Future Africa named GESAL Technologies winner of the event.
To teach STEM subjects effectively, laboratory practicals need to be carried out. Unfortunately, most high schools in the country don’t have laboratories, and those that do have don’t have the funds to properly equip them.
GESAL Technologies is solving this problem with GESAL, a laboratory on smartphones accessible by students, and teachers alike, anytime, anywhere. This augmented reality app houses simulated practical-based, government-approved subjects to enhance learning for students.
This is how it works: If a student is having a hard time comprehending a topic, they can pick up their smartphone, open the GESAL application, select the topic in question and the student will be immersed via audiovisual content, which enhances learning and increases retention rate.
GESAL’s vision is to be the backbone for schools with respect to STEM learning infrastructures within the next 5 years.
“We are extremely delighted to win the Hub one Epic pitch-Women in Tech edition. We are hopeful that this win would be a great leap for the success of Gesal technologies,” said Yewande Akinjewe, Co-founder & Product Lead at GESAL.
By winning the event, GESAL Technologies will receive a cash grant of $300 (₦100,000) for growing its business and other benefits such as access to Hub One’s network of investors, potentially partnering with First City Monument Bank (FCMB) and selection for the next cohort of SheVentures Mentorship program.
The second-place startup, SOSOCARE will also receive ₦100,000 and automatically qualify for the next SheVentures Mentorship Program alongside GESAL & HerVest, the 3rd-placed startup.
Together with the top 3 teams, The Silver Castle and Kadlingual (the 4th & 5th placed startups respectively) will get 3 months access to Hub One, for free — this is worth over ₦600,000.