On February 13, 2025, Olaoye Muibat Adesewa Child Care Foundation (OMACCF) attended an informative program organized by African Social Innovation Fellowship (ASIF) at the American Corner in Lekki, Nigeria. The event focused on funding opportunities and strategies for leveraging grants as business owners.
Mr. Dennis Akin and other notable personality panel section was insightful.
Mr. Dennis Akin, the keynote speaker, emphasized the importance of exploring financial opportunities for funding. He provided valuable insights on the essential steps to take when transforming an idea into a viable business.
• Usman Imana
• Gerald Konwea
• Ngozi Nwabueze
Gave these points respectively.
1. Establish a Strong Legal Foundation
Engage a legal adviser from the inception of your business idea to ensure you’re taking the right steps.
2. Protect Your Brand and Intellectual Property
Conduct thorough research to ensure your desired business name is unique and available. Register a distinct domain name and perform a comprehensive background check.
3. Prioritize Patent Protection and Contractual Agreements
Patent your algorithm to safeguard your unique business processes. Establish non-negotiable contracts for all business relationships, including paid and internship positions.
4. Effective Financial Management and Data Protection
Fund your corporate accounts regularly and maintain a consistent transaction record. Appoint a data officer to oversee platform development, conduct regular data audits, and ensure compliance with reporting requirements.
5. Focus on Customer Acquisition and Scalability
Invest in strategies to attract customers who will sustain your business. Develop a scalable business model with a structured framework that can support growth and sustainability.
By implementing these strategic measures, entrepreneurs and business owners can establish a solid foundation for success and growth.