Union Bank has announced the launch of TechVentures, a unique banking proposition which provides tailored services to technology companies. The solution was unveiled at TechPoint Build, a leading technology conference for tech experts, investors, start-ups and owners of tech-enabled businesses, that held in Lagos recently.
TechVentures supports tech-based businesses in various stages of their lifecycles, providing them services which include access to venture capital funding, business advisory and mentorship as well as accelerator partnerships.
Union Bank’s Head of Commercial Banking, Mr. Kunle Sonola, who was present at the event and unveil said the bank is focused on developing services that offer real value-adding solutions for emerging and established sectors and ecosystems in Nigeria.
His words: “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 start-up 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.”
The bank launched an annual innovation challenge in 2017 to encourage budding entrepreneurs who are working on innovative solutions, which address social and business challenges.
Last year, in partnership with Co-Creation Hub, the bank also launched a first-of-its-kind business acceleration programme, ‘Start up Connect’, which provides an opportunity for Nigerian businesses creating technology-based solutions for the emerging African market, to partner with the bank and the social innovation centre for rapid growth.
