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Olumide Soyombo

More techpreneurs are expected to emerge in Nigeria in the next few weeks as a result of a $1.5 million accelerator fund infused into the industry courtesy of Leadpath Nigeria. Leadpath Nigeria was publicly launched on Friday, March 7, 2014. Olumide Soyombo, Leadpath founder, said that the company was established “to power legendary companies in Nigeria by bridging the gap between start-up to market dominance.” Soyombo explained that the $1.5 million fund will be used to empower startups in the area of software applications, mobile applications, electronic payments and big data. “LeadPath Nigeria is a seed fund investing in early stage tech companies in Nigeria. We will be investing $25,000 to $100,000 in each of these startups from our $1.5m sitting fund. We reckon we can cover about 15-20 startups over the next 18-24 months with this fund,” he said. Soyombo revealed that startups like Bluechip Technologies, Simer, Afriqbuy, and Enreach are in Leadpath’s portfolio and call for entry has been made for more startups to take advantage of the fund. “We have opened a call for entry application for funding. This application will be open till April 25th 2013. We will then shortlist applications and invest in five of these startups and this will form the first cohort, he added.  
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This article was first published on 19th March 2014

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