Stanford Institute trains local entrepreneurs

The Stanford Institute for Innovation in Developing Economies (SEED) has held an intensive business management training programme for selected local entrepreneurs in West Africa.

The six months training programme was aimed at transforming businesses in West Africa as part of its efforts to reduce global poverty.

The 29 small to medium scale companies from Nigeria, Sierra Leone, Ghana and Ivory Coast were enlisted, trained and given that fair opportunity needed for business owners from key sectors of the sub-regional economy to take their small scale businesses to higher levels.

Chief Executive Officer of SEED, Dr. Tralance  Addy explained that in their bid to execute the project of transforming lives on a massive scale through businesses, they focused on three key steps, namely innovation, entrepreneurship and scale.

Dr. Addy bemoaned the fact that there was a gap between the promise of what would happen and what was actually happening, noting that the Millennium Development Goal on poverty reduction had not been achieved, considering the fact that the year 2015 would soon come to pass hence the Stanford Seed initiative.

Some of the participants in SEED’s Class of 2013, who shared their experience revealed that the training programme has brought depth and innovation to their business perspectives and also taught them how to harness the practical know-how acquired in their six-months encounter.

Chief Executive Officer of Brainsworth, Richard Fadiora highlighted the overwhelming change he has experienced during the training programme, which has helped him scale-up the focus of his entrepreneurial efforts and realigning the market strategy for his business.

He praised the Training Programme’s Leadership Class for making him a better leader as he can take criticism much better and cited “Design Thinking” for nourishing his dreams with innovation.

Jika Nwobi, another Cohort and Operations Manager of Houscessories Limited in Nigeria said the training programme has equipped her with knowledge to build capacity and also determine, whom to hire to help scale up their company.

Cohorts praised their coaches, who are alumni of Stanford University for their support, friendship and mentorship.

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