In what is second high-profile funding in Nigerian tech-related company this year, 2011 is really up to a good start! Just recently we wrote about Jobberman investment… this is the second in just 12days in 2011. By next week we should be able to get another funding worth talking about.
Lagos, Nigeria. January 11, 2011 – Peery Foundation, a Palo Alto-based family foundation established in 1978 by Richard Peery, has invested in Paradigm Initiative Nigeria (PIN).
“We’re excited to be supporting PIN’s work! Following series of discussions and checks by the Foundation, we are proud to make this social investment. We are encouraged by the thoughtfulness of PIN’s model and the importance of working with such an under-resourced demographic in Africa,” stated Dave Peery.
Peery Foundation invests in and serves social entrepreneurs and leading organizations in the San Francisco Bay Area and around the world, and their mission is to strengthen youth and families to build lives of dignity and self-reliance. The conversation between the foundation and PIN started after a member of staff of the foundation listened to a presentation on PIN’s work with youth in Nigeria by PIN’s Executive Director, ‘Gbenga Sesan, as part of the requirements of his participation in the Global Social Benefit Incubator (GSBI) program at Santa Clara University in August 2010.
According to Sesan, “the grant will help PIN kick-start series of technology-for-entrepreneurship (‘technopreneurship’) training programs for youth across Nigeria. The training programs will serve as the foundation for PIN’s plan to host an annual conference, from the last quarter of 2012, tagged “Techie. Entrepreneurial. Nigerian. Talented” (T.E.N.T) – where young talents can meet with the industry and investors.” He continued, “we believe that if we don’t discover, train, mentor and support young people with interest in ICT innovation while they’re in their early teens, they can’t become ICT experts and legitimate billionaires in their late twenties.”
PIN, a Lagos-based social enterprise, addresses the gap between Nigeria’s disadvantaged youth and economic opportunities by providing demand-driven Information and Communication Technologies, entrepreneurship and life skills training.
PIN’s Ajegunle.org training program connects trainees with internship opportunities which result in full-time employment or provide training towards small businesses that improve their livelihoods – and allows them to serve as role models to other youth. Through its Internet Safety, Security and Privacy Initiative for Nigeria program, in partnership with Microsoft, PIN works to redirect the energy of young Nigerians from cybercrime.