10 drivers awarded €25,000 seed fund in Bolt Nigeria’s Den Initiative

Bolt, Nigeria’s leading ride-hailing company, concluded its groundbreaking Bolt Den initiative under the Bolt Accelerator Program with an awards ceremony recognising the top 10 innovative ideas from its driver community.

The initiative, aimed at empowering drivers beyond ride-hailing services and fostering entrepreneurial roles and economic growth prospects across Nigeria, would be offering a €25,000 seed fund to the selected drivers.

Caroline Wanjihia, Bolt’s Regional Director for Africa and International Markets, highlighted Nigeria’s significance as the pioneer market for the Bolt Accelerator Program, aiming to economically empower the driver community.

“In Africa, we’re in several markets, Nigeria, Ghana, Tunisia, Tanzania, Uganda, Kenya, and South Africa,”  but we’ve chosen Nigeria as the first market to launch the Bolt Accelerator program. The program is an economic empowerment initiative run with the Nigerian driver community.”

Thompson Ekawu Ogar, an award-winning driver from Kaduna, expressed gratitude for the transformative experience and envisioned his solar energy initiative as a means to create jobs and reduce fossil fuel use across Africa.

“My idea and vision have been to elevate ‘many’ from poverty and to convert the use of  ‘fossil fuel’ to solar energy. I think my idea will not only change the use of ‘fossil fuel’, but also create jobs for people across Africa. The Bolt Accelerator Program has impacted me and I am thrilled to have come top of this program, thank you for showing me what it means to be part of a great, impactful, and success-driven team. I look forward to future collaborations with Bolt and the top 10.”

Latifu Modinatu, the only female driver among the top 10, aspired to become a fleet partner with Bolt. The Benin City-based driver expressed profound appreciation for the empowerment received saying:

“Words alone cannot express how grateful I am, thank you for the knowledge, the experience, the push, the encouragement, and financial empowerment as a driver-partner. I hope that one day I get to become a fleet partner with Bolt.”

Read also: 20 drivers emerge finalists at Bolt Den €25,000 accelerator program

Bolt’s Den Initiative: How 10 drivers were selected

The initiative, offering a €25,000 ($26,712) seed fund, received an overwhelming response with 1,600 applications, highlighting the enthusiasm for sustainable transport solutions aligned with Bolt’s Africa City Vision.

From this pool, 100 drivers progressed to the ideation phase, with the top 20 entering an intensive business development boot camp to prepare for pitch day.

At the pitch session, the top 20 drivers presented inventive business solutions to a panel of judges, with the best 10 ideas selected. The concepts showcased drivers’ creativity, including converting petrol vehicles to compressed natural gas (CNG), developing mobile applications for on-the-go mechanics, and designing solar-powered equipment, among other innovative ventures.

The grand awards ceremony held on November 21st at Lagos’s Oriental Hotel revealed the top 10 drivers, each receiving a €2,000 seed fund and access to a 6-week business mentorship program.

Additionally, the top 20 drivers were honoured with participation certificates, while three drivers received laptops for categories like best pitch, most scalable idea, and most innovative idea. Esteemed personalities, including government representatives and industry leaders, graced the ceremony, endorsing the initiative’s impact on Nigeria’s transportation sector.

Peter Ogedengbe, Co-founder of The Nest, commended the entrepreneurial spirit of participating Bolt drivers, reaffirming The Nest’s commitment to supporting startups across Africa and beyond.

Also, Engr. SA Agbomeji, representing the Lagos State Ministry of Transport, praised Bolt’s initiative, aligning with Lagos State’s dedication to fostering innovation and creating opportunities in the transportation sector.

The Accelerator Program’s Award Day celebrated resilience, innovation, and a collective commitment to revolutionising urban mobility. The ride-hailing company’s continuous efforts drive economic growth, innovation, and empowerment, shaping the future of shared mobility across Africa.