The inaugural Tosin Eniolorunda Innovation Challenge has celebrated three student-owned startups from the University of Lagos (UniLag) as winners. These startups were recognized during the 4th Annual Students Entrepreneurship Program, which featured keynote presentations, panel discussions, and networking opportunities designed to equip future business leaders with the skills and knowledge needed to foster SME growth and innovation.
The Winning Startups:
- Craft by Leemart:
- Founder: Halimat Ajoke Ariyo
- Business: A customizable fashion brand creating high-quality leather products, including footwear, bracelets, wallets, belts, and journals. The brand focuses on customer satisfaction and personalized experiences.
- SafeMom:
- Founders: Michael Kolade Sunmoni and Saanumi Oluwaseun Joshua
- Business: A healthtech startup that addresses maternal mortality by connecting expectant mothers with healthcare resources through an innovative digital platform. It provides 24/7 access to healthcare experts, educational resources on pregnancy, childbirth, postpartum care, and support groups.
- UNISHOP:
- Founders: Bukunmi Ransome-Kuti and Israel Olasupo
- Business: A retail-as-a-service platform that empowers student entrepreneurs to establish and grow their businesses within the campus ecosystem. It offers basic listings and premium shop pages to drive visibility and marketing for student businesses.
Challenge Overview:
The innovation challenge was an initiative of the Management Students Association, University of Lagos, aimed at building a supportive environment for innovation and creating pathways for inclusive prosperity and entrepreneurial growth.
Tosin Eniolorunda, Group CEO of Moniepoint, highlighted the importance of small businesses as vehicles for innovation and problem-solving, emphasizing that empowering them is both a strategic imperative and a moral obligation for sustainable prosperity. He was represented at the event by Efemena Ogie, Head of Partnerships at Moniepoint.
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Evaluation and Prize:
The startups were selected based on key metrics including market potential, financial management understanding, growth plans, business value, competitiveness, and presentation quality. An expert panel of judges from the business and technology ecosystem evaluated the entries. The judges included Gabriel Balogun (Head of Learning and Development, Moniepoint Inc), Katherine Adesomoju (CEO, Spectrum Holdings), Samuel Olatunde (CEO/Founder, Edala Homes), and Adeola Sanusi (CEO/Founder, XL Homes).
The winners received seed funding or funds to upscale their ventures, as well as mentoring initiatives, workshops, and training sessions to help them make a significant impact in their communities.
Comments from Winners:
Halimat Ariyo, founder of Craft by Leemart and winner of the first prize, expressed gratitude for the opportunity and cash incentive, stating that she is energized to take her business to the next level.
The Tosin Eniolorunda Innovation Challenge underscores the importance of nurturing young talent and fostering innovation for Nigeria’s socio-economic advancement. It validates Moniepoint’s commitment to supporting entrepreneurship and positioning young Nigerians for global relevance.