NEWS
Abia Launches Startup, Angel Investment Network to Unlock Local Capital for Young Entrepreneurs
The Abia State Government has taken a major step towards strengthening its innovation and entrepreneurship ecosystem with the launch of the Abia Startup and Angel Investment Network, a platform designed to connect young entrepreneurs, innovative ideas and potential investors while opening new pathways for business growth and investment.
The initiative was unveiled during a one-day Abia Startup and Angel Investment Summit, organised by the Ministry of Science, Technology and Innovation in partnership with Startup South and the Abia Technology and Innovation Network. The summit, themed Unlocking Local Capital for High-Growth Startups, was held at the Ogbonnaya Onu Polytechnic, Aba, as part of activities marking Abia State’s 35th anniversary and Youth Innovation Day.
Speaking at the event, Governor Alex Otti said his administration was committed to creating an enabling ecosystem where young people could transform their ideas, creativity and innovations into sustainable businesses capable of attracting investment and contributing significantly to the state’s economy.
The Governor, who was represented by the Secretary to the State Government, Dr. Emmanuel Emeribole, said the new initiative would strengthen the capacity of young entrepreneurs to develop their businesses while also contributing to increased internally generated revenue, economic expansion and the creation of independent business opportunities for entrepreneurs and investors.
He commended Startup South and other partners for bringing their expertise and business development initiatives to Abia, noting that partnerships of this nature were essential to building a vibrant ecosystem capable of supporting innovation-driven enterprises.
The Commissioner for Science, Technology and Innovation, Mr. David Kalu, said the summit was conceived as a platform for exposing participants to new business opportunities, investment strategies and practical approaches to scaling innovative enterprises.
According to him, the initiative would help young entrepreneurs accelerate their innovations, attract capital and develop businesses capable of growing into major corporations that would contribute to Abia’s economic transformation.
The Permanent Secretary of the Ministry, Mrs. Justina Oluchi Eboh, said the Otti administration had continued to lay a solid foundation for young entrepreneurs and innovators to thrive by expanding initiatives that improve access to business opportunities, strengthen entrepreneurship development and foster innovation hubs across the state.
Also speaking, the President of the Africa Business Angels Network, Yemi Keri, and the Founder of Startup South, Mr. Uche Aniche, said the summit would play an important role in strengthening the confidence of young entrepreneurs while equipping them with the knowledge and networks required to develop viable businesses and attract investment.
They noted that Abia had recorded significant improvements in critical areas including electricity supply, ease of doing business, road infrastructure, security and other sectors, creating a more favourable environment for entrepreneurs and investors.
The summit also featured exhibitions showcasing products and innovations by young entrepreneurs, alongside panel discussions and technical workshop sessions aimed at equipping participants with practical knowledge on entrepreneurship, investment and business development.
The event attracted the Principal Secretary and Chief Strategy Officer to the Governor, Mr. Chinenye Mba-Uzukwu; the Director-General of the Abia State Public-Private Partnership, Mr. Chinedum Chijioke; entrepreneurs, innovators and other stakeholders in the state’s emerging technology and investment ecosystem.
With the launch of the Abia Startup and Angel Investment Network, the state is positioning itself to move beyond supporting young people with ideas to creating stronger pathways for those ideas to secure funding, scale and become sustainable businesses capable of creating jobs and driving economic growth.