Olumide Soyombo is the Co-Founder of BlueChip Technologies. BlueChip Technologies is a systems integrator specialized in Data Warehousing, Analytics and Business Intelligence Solutions.
Olumide is also the co-founder at Leadpath Nigeria, a seed capital fund that specializes in providing short, medium and long-term funding to small and medium-sized start-up businesses. They have invested in companies like Paystack, Fashpa, Piggybank among others.
He is a systems engineering graduate from the University of Lagos and holds a Masters in Business and Information Technology from Aston University.
In this episode you’ll learn:
- What got him interested in angel investing?
- The usefulness of having mentor networks
- How did BlueChip Technologies come about?
- What were the first businesses they invested in?
- Which is more important when building a product? Scalability or Profitability?
- The evolution of the Nigerian startup ecosystem
- How did they raise $1million without actually looking to raise money?
- Olumide is focused on tech consumer based products. Find out why
- What was the flaw with their initial accelerator model?
- The selection criteria for the accelerator
- Olumide has written a lot of cheques. Some succeeded and others did not. Which businesses survived and why?
- What is the risk of focusing on profitability at the expense of growth?
- How they became profitable within a very short time
- How big data helps businesses
- How the invention of ai and machine learning is shaping their business model
- Learn about Blueprime a new product they developed and are pushing out to the market
- The biggest challenge he thinks founders face in Nigeria in being able to sell
- Why repeatedly backed the Piggybank founders
- And more
Selected Books from this episode
Selected links from this episode
- Iroko Tv
- Potential VC
- Passion incubator
- Y Combinator
- 500 startups
Building The Future Podcast Season 3 is sponsored by Flutterwave
Flutterwave drives growth for banks and businesses across Africa through digital payment technology. You can learn more about their activities here.