Union Bank has announced the launch of TechVentures, a unique banking proposition which provides special services to technology startups and companies. This announcement was made at TechPoint Build which held 26th January 2019 at Landmark Event Center in Lagos.
TechVentures supports tech-based businesses in the different stages of their development. They help with access to venture funding, business advisory, mentoring as well as help foster partnerships. The Bank hopes to help startups unlock the potential to create maximum value for their customers using the platform.
TechPoint Build, on the other hand, is a leading technology conference for tech experts, investors, start-ups and owners of tech-enabled businesses. It helps connect the startup and SME community with all industries, bringing together people from different states across Nigeria and other neighbouring countries.
Union Bank’s Head of Commercial Banking, Mr Kunle Sonola explained that the bank was focused on developing services that proffer value-adding solutions for startups and established sectors in Nigeria.
“We designed TechVentures in response to the emergence and accelerated growth we see in the tech space. Our goal is to capture these businesses from startup stage, when they are just nursing an idea, and support them until they build unicorns because we believe that these businesses will drive a new economy in Nigeria,” he said.
Union Bank has been making reasonable efforts to contribute to the growth of the tech startup scene in Nigeria. In 2017, the bank in partnership with Co-creation Hub (CcHub) launched a business acceleration programme “Startup connect”. Startup Connect is an opportunity for Nigerian companies, creating technology solutions for the next generation African market, to partner with Union Bank for rapid growth.
This platform launches at a time when most startups are making use of technology to provide efficient services to their customers. One of the major issues faced by startups and SMEs is funding, the platform seeks to help manage such problems faced by tech-based businesses.
