Stanford Seed Transformation Network inducts 16 new members

By Amechi Obiakpu

Stanford Seed Transformation Network Nigeria, has inducted 16 members into its network, under cohort 14. The induction ceremony was held in a colourful event at the Radisson Blu, Ozumba Mbadiwe, Victoria Island, on Friday night, November 22, 2024.

The event which doubles the organisation’s end of year party attracted High Networth Individuals (HNI) and business leaders across various sectors. The theme of the event was: “Connect, Collaborate, Conquer”.

Stanford Seed Transformation Network, Nigeria chapter is an alumni of the Stanford seed transformation program organized by Stanford University, California. The membership comprises business owners with minimum turnover of $500,000.

According to the network, the inductees had undergone a nine-month program among other requirements to enable them qualify for membership.

Among them were, Victor Bella (Socialander), Adeola Akinyemi (ShowGear Ltd) and Ifeoluwa Ariyo.

Omololami Ajani, President Stanford Seed Tranformation Network, Nigeria and MD, Wood-ET AL said the aim of Stanford seed transformation program is to transform businesses a thousand times.

According to her, the objective is to alleviate poverty by empowering businesses to create employment- therefore changing lives.

“What we do is to support that transformation journey by organizing different event- social network to avail people information they need to grow their businesses,” she said.

Speaking in her opening remark, she underscored the importance of the network not only to members but on the economy at large, “This moment feels especially significant as we come together to celebrate not only our accomplishments over the years, but also induction of a new cohort.

“You are part of a robust and supportive community of likeminded individuals who share a common purpose- an ambition to lead with integrity, to innovate with courage and to make a tangible impact in Nigeria and beyond.

“Stanford Seed Transformation Network is not just a space for learning it is a community of action. And now, you are a vital part of that network,” she said.

Reacting to the question on how members are faring in the present economic challenges Ajani said, though no business is immune from the current situation however, their members are resilient and are trained to find the good in every situation.

“I believe the economy is impacting all businesses the same way however, in my opinion, it is about thriving in the midst of the challenges and ensuring you stay afloat.

“We have been trained to run sustainable businesses and I believe if we run our businesses well, it will contribute to the growth of the economy- making jobs available for the unemployed,” she added.

On his part, Emmanuel Kitcher, Stanford Seed Regional Director, West Africa, pointed that business owners in Africa have demonstrated resilient despite the harsh business environment.

“I think that the business leaders we have in Africa are very tough and resilient because they are operating in very challenging environment. If they have the same opportunities like they have in Europe I believe their businesses will go farer than what they presently have. However, notwithstanding the challenges we find ourselves, we find out that they are doing what they can with all the resources at their disposal to create thriving businesses”.

In her keynote address the Honourable Minister of Trade and Investment, Dr. Olajumoke Omoniyi Oduwole said Organisations like the Stanford Seed are the businesses that will help the economy to grow.

“As far as they have invested in leadership and capacity, network and collaborations across border I have encouraged them to take their fellow Nigerians along to share the knowledge that they gained through this program and to make sure that they maximize it for Nigeria and for export. Export don’t just happen- you have to be intentional, find out about standard, about regulations and to know which market to export to and the volume.

“As a government, the two biggest thing we are looking at is, the investment space and retaining the investment. Encouraging foreign investment. We have to make sure that Nigerian businesses are thriving. The second thing is the trade space export. We have to be focuss on being export driven. We have to ensure we tell them about trade participation and their regulatory component and encourage them to export. That is the only way we can get FX supply from and that is what we are preparing to do,” she said.

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