The Stanford Seed Transformation Network Nigeria inducted 16 new members into its ranks as part of Cohort 14. The induction ceremony took place at a vibrant event held at Radisson Blu, Ozumba Mbadiwe, Victoria Island, on the evening of Friday, November 22, 2024.
The event, which also served as the organization’s end-of-year party, drew High Net-Worth Individuals (HNIs) and business leaders from a wide range of sectors. Themed “Connect, Collaborate, Conquer,” the evening highlighted the network’s commitment to empowering business leaders.
Stanford Seed Transformation Network Nigeria is part of the alumni community of Stanford University’s Seed Transformation Program, based in California. Membership is exclusive to business owners with a minimum turnover of $500,000.
To qualify, the new members completed a rigorous nine-month program, meeting additional criteria set by the network. Among the inductees were Victor Bella of Socialander, Adeola Akinyemi from ShowGear Ltd, and Ifeoluwa Ariyo.
Omololami Ajani, President of the Stanford Seed Transformation Network Nigeria and Managing Director of Wood-ET AL, emphasized the program’s mission to drive exponential business growth. “The goal of the Stanford Seed Transformation Program is to multiply business impact a thousandfold,” she said, noting that empowering businesses to create jobs is key to reducing poverty.
Ajani also highlighted the network’s role in supporting this transformation. “We organize events that provide the crucial information businesses need to thrive,” she stated. In her opening remarks, she spoke about the broader impact of the network, saying, “This gathering is a celebration of our shared successes and the induction of a new cohort. Our members are driven by a common purpose—to lead with integrity, innovate boldly, and make a difference in Nigeria and beyond.”
Addressing economic challenges, Ajani acknowledged that while no business is immune, the network’s members are trained to navigate difficulties. “The economy is affecting all businesses, but it’s about thriving amid challenges and maintaining resilience. Sustainable business practices are key to contributing to Nigeria’s economic growth and job creation,” she added.
Emmanuel Kitcher, Stanford Seed’s Regional Director for West Africa, praised the resilience of African entrepreneurs. “African business leaders operate in demanding environments, yet they manage to create thriving enterprises with the resources available. With the same opportunities as their counterparts in Europe, I believe they would achieve even greater success,” he observed.
Delivering the keynote address, the Honourable Minister of Trade and Investment, Dr. Olajumoke Omoniyi Oduwole, highlighted the importance of networks like the Stanford Seed in driving economic development. “Organizations like Stanford Seed are crucial for economic growth. Their investment in leadership, capacity building, and cross-border collaboration must be shared for the benefit of Nigeria and beyond,” she said. She also urged members to focus on export-driven strategies, emphasizing the need for intentionality and understanding of global market standards.
“Our government’s priority is to boost investment and support Nigerian businesses in thriving locally and internationally. Encouraging foreign investment and focusing on exports are crucial to enhancing Nigeria’s economic prospects and foreign exchange supply,” Dr. Oduwole concluded.
