The post mentorship graduation ceremony was held virtually on January 19, 2024 to sendforth the top 10 winners.

Launched on September 19, 2023, the Bolt Accelerator Program has empowered drivers beyond conventional ride-hailing services and contributed to the economic growth of drivers in Nigeria.

The initiative witnessed a myriad of applications from drivers in diverse states in Nigeria, their brilliant ideas were meticulously scrutinised, and appraised, and ultimately the top 10 innovative business ideas emerged as winners, each receiving a seed fund of 2000 euros but proceeding to start a 6-week mentorship phase of the Bolt Den to mark a significant milestone celebrated during the virtual closing ceremony.

The initiative is in line with Bolt’s goal to contribute towards the development of Nigeria’s economic growth whilst keeping Bolt’s African City Vision project, which encourages the adoption of shared mobility in the ongoing development of wider transport ecosystems.

Recent analysis from Oliver Wyman Mobility Forum and Bolt highlighted that the African shared mobility market is the world’s fastest growing and is set to double to $8bn by 2030, creating more than 550,000 additional earnings opportunities while bringing significant economic and social benefits.

Speaking on the importance of the mentorship exercise, Bolt’s Senior Public Policy Manager WA & NA & CA, Weyinmi Aghadiuno, reiterated that the mentorship exercise is important to help nurture the winners and prepare them for the real-life tasks ahead.

“The program’s legacy will persist through follow-ups, meticulous record-keeping, and ongoing growth initiatives even in other countries, fortifying Bolt’s commitment to fostering innovation, empowerment, and increased mobility in Africa. The journey is not over; it is just starting, and we would love to be able to refer to the growth of these businesses five years down the line,” Weyinmi said.

One of the participants, Arinze Emmanuel a driver from Abuja whose idea aimed to tackle security issues focused on car theft by developing a website to monitor cars and disseminate information swiftly said “I thank Bolt for this initiative, the mentorship phase has really equipped me to address the challenges my business idea aims to tackle”

Another participant, David Uviowho, a driver from Port-Harcourt with the business solution to ensure efficient deliveries with the use of bikes for urban logistics said, “The program has been worth every single moment invested, and I am now operational thanks to the impact of it. I will make Bolt proud.”  He attributed his growth to the program’s educational value which he said significantly contributed to the realisation of his business idea.

Jennifer Modinatu, the only female Bolt driver among the top 10, whose zeal to encourage women driving to earn for themselves developed the car-for-hire business to encourage female inclusion in the ride-hailing ecosystem.

She encouraged women, urging them to engage more actively in initiatives such as the Bolt Accelerator Program introduced by Bolt.

Temitope Stephen winner of the Oliver Wyman Mentorship, a driver from Lagos state with the ecofriendly business idea of converting petrol vehicles to compresses natural gas has kickstarted his private mentorship sessions with the Oliver Wyman team under seasoned professional as he commences operation of Raindom EnergyServices Ltd.

The top 10 participants radiated enthusiasm, basking in the joy of the positive turnaround in their lives as they reintroduced themselves as owners of CAC-registered companies, sharing insights and heartfelt moments from the transformative journey in the Bolt Accelerator Program.

Bolt and The Nest stand united in propelling African entrepreneurs toward a future of innovation and economic growth.

The event marked the culmination of an inspiring journey, with innovative ideas, and the promise of a brighter future for urban mobility.

Bolt’s Accelerator Program, the first in Nigeria, initiated to empower its driver community beyond conventional ride-hailing services, aims to redefine their roles as entrepreneurs and amplify economic growth prospects across Nigeria.

The Bolt Den initiative, featuring a €25,000 ($26,712) seed fund, attracted an overwhelming response with 1,600 applications.

The program was strategically aligned with Bolt’s Africa City Vision, emphasising sustainable transport solutions.

From the pool of applicants, 100 drivers progressed to the ideation phase, with the top 20 drivers showcasing the most promising and innovative business solutions advancing to the intensive business development boot camp phase in preparation for pitch day.

The pinnacle of the program was the Bolt Den pitch session, where the top 20 drivers pitched their innovative ideas to a distinguished panel of judges who selected the best 10 ideas.

Among the innovative ideas presented by the top 20 participants, ideas ranged from converting petrol vehicles to Compressed Natural Gas (CNG) for cars, developing a mobile application connecting users with on-the-go mechanics and towing rescue vans, converting petrol-operated vulcanizing machines to solar energy, and designing and assembling electric bicycles, and other noteworthy concepts which is a testament to the creativity and determination of the drivers to excel, win seed funds, and make their dreams a reality.

The grand awards ceremony took place on November 21st at the Oriental Hotel, Lagos, Nigeria.

The top 10 drivers were unveiled each receiving a €2,000 seed fund and access to a 6-week business mentorship program.

The excitement in the room was palpable as drivers, friends and families, the panel of judges, facilitators, and guests shared the joy of a transformative experience.

Additionally, the top 20 drivers were awarded certificates of participation, and 3 drivers received laptops for these categories; best pitch, most scalable idea, most innovative idea, and 1 access to business mentorship with Oliver Wyman.

The awards ceremony was graced by esteemed personalities, including Engr. SA Agbomeji representing the Commissioner of Lagos State Ministry of Transport, Mr. Durojaye Olalekan, Directorate of Road Transport Services FCT, Dr. Andreas Nienhaus, Partner at Oliver Wyman, Mrs. Omolara Adewumi, Director of Programs and Coordination/Acting Executive Secretary (CEO) of the Lagos State Employment Trust Fund (LSETF), Professor Olayinka David-West of the Lagos Business School, Mrs. Adaorie Uchechukwu of the IFC, Mr. Peter Ogedengbe, Co-founder of The Nest and Caroline Wanjihia, Regional Director, Africa and International Markets at Bolt.

Thompson Ekawu Ogar, a driver on Bolt in Kaduna, the overall best of the top 10 ideas said:

“My idea and vision has 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, driving on Bolt in Benin City said,

“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.”

Caroline Wanjihia, the Regional Director, Africa, and International Markets at Bolt, provided insight into Bolt’s footprint across Africa. “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.”

Peter Ogedengbe, rthe Co-founder of The Nest, took the stage to commend the entrepreneurial spirit of Bolt drivers who participated in the accelerator program and stated The Nest was committed to supporting startups and entrepreneurs not only in Africa but beyond.

“Engr. SA Agbomeji, commended Bolt for spearheading this initiative designed to empower and support dedicated drivers, stating the Bolt Accelerator Program is in alignment with Lagos State’s commitment to fostering an innovative environment and creating opportunities for stakeholders in the transportation sector.”

The Bolt Accelerator Program’s Award Day was more than a ceremony, it was a celebration of resilience, innovation, and the collective commitment to transforming urban mobility.

Bolt continues to lead the charge, driving economic growth, innovation, and empowerment, shaping the future of shared mobility in Africa.

How to Apply for €25,000 Bolt Accelerator Program 2023

In a visionary move, Bolt is poised to launch the bespoke online training hub with a dedicated focus on enhancing the business development competencies of Bolt drivers.

Collaborating with prominent online learning platforms, Coursera and in-person implementation partner PM4Success, the Bolt Academy stands as a remarkable stride towards fostering entrepreneurial excellence among Bolt drivers.

Spanning three months, this comprehensive program covers a wide spectrum of essential entrepreneurial skills, encompassing Time Management, Productivity, Communication, Customer Service, Project Management, Leadership, and Organisational abilities.

The program will see 100 drivers engage in weekly courses that will further build on their entrepreneurial skills.

This groundbreaking initiative follows Bolt’s recent launch of the Bolt Den project in September.

With a seed fund of €25,000 earmarked to support innovative business proposals developed by Bolt drivers, the Bolt Den represents a resounding affirmation of Bolt’s commitment to embolden drivers for entrepreneurial success.

Out of the 1,275 applications received, an exceptional 100 drivers have successfully progressed through the application phase to the ideation phase.

100 dedicated drivers have actively participated in specialised ideation sessions crafted to empower them with the indispensable knowledge necessary for the proficient construction and development of their business proposals.

Consequently, the top 20 drivers, showcasing the most innovative and promising business solutions, will advance to the intensive bootcamp phase.

This phase is meticulously structured to prepare them thoroughly for the forthcoming stage within the Bolt Den program.

The pinnacle of the Bolt Den program is slated to reach its culmination on the eagerly anticipated Pitch Day, scheduled for November 2023. On this momentous occasion, participating drivers will have the privilege of presenting their business proposals and groundbreaking concepts to an esteemed panel of judges. The most exceptional ideas will secure the seed investment required to turn their aspirations into reality.

A representative of the drivers expressed profound enthusiasm for the Accelerator program emphasising that it stands as more than a learning opportunity for the driver community. That this initiative by Bolt is a source of hope for drivers in Nigeria.

“We are amazed and truly delighted with the turnout for the Accelerator program and the enthusiasm shown by drivers”, says Yahaya Mohammed, Country Manager at Bolt Nigeria. “We strongly believe in the potential of this initiative to empower drivers and we are excited to see what these innovative entrepreneurs accomplish”.

Bolt Academy is a beacon of opportunity for drivers, said Dr David Emumena, Managing Director of PM4Sucess International and we believe every driver has the potential to be successful and we are committed to nurturing their entrepreneurial spirit and bridging the gap to equip drivers for a brighter future.

“We’re thrilled to play a role in unlocking potential and nurturing entrepreneurship among Bolt drivers,” says Hadi Moussa, Managing Director EMEA at Coursera. “Through this program, we’re not just fostering individual growth with vital business skills, but also positively impacting Nigeria’s economic landscape. It underlines our belief in the transformative power of education on lives and communities.”

Bolt is a super-app with over 150 million customers in more than 45 countries and 500 cities across Europe and Africa (list of locations here). We offer a range of mobility products for different services and

needs:

• Ride-hailing
• Bolt Food, delivering ready-made meals from restaurants
• Bolt Business, our corporate mobility service

The Bolt accelerator program is in partnership with the Nest Innovation Park (‘the Nest’).

Now, let us tell you about the application details:

The Bolt Accelerator Program opens its doors to all registered Bolt drivers across Nigeria, sparking a journey of learning, growth, and economic empowerment.

The application period is set to commence on 18th of September and conclude on 29th of September. Selected participants will be equipped with invaluable mentorship, workshops, and access to funding, all the ingredients for a recipe of entrepreneurial success.

Drivers can seize this opportunity to transform their ideas into profitable ventures.

Program Highlights:

• In partnership with The Nest Innovation Park, the Bolt Accelerate Program is poised to cultivate an ecosystem of innovation and entrepreneurship, fueling the spark of economic growth.
• Bolstered by the shared values of innovation and progress, the program invites registered Bolt drivers to bring forth their ingenious business concepts. Drivers will be invited to pitch business ideas connected to Bolt’s new African City Vision (which is about creating cities that prioritize people’s well-being, sustainability, and accessible mobility for everyone).

Program Stages:

• Stage 1: Idea Submission and Screening: Drivers’ innovative ideas undergo thorough evaluation.
• Stage 2: Idea Interviews and Selection: Top 20 drivers proceed after in-depth interviews on their ideas.
• Stage 3: Mentorship for Top 20: Twenty drivers undergo comprehensive mentorship to prepare for the final pitch.
• Stage 4: Pitch Day and Seed Fund: Drivers pitch their ideas for a chance to win seed funding and access to valuable mentorship. The top 10 most innovative ideas will each receive 2000 euros.

Together, Bolt and The Nest Innovation Park stand poised to redefine the entrepreneurial landscape of Africa, nurturing change-makers, and catalyzing economic prosperity.

How to apply

Follow the link here to apply. 

About the partners:

Bolt is a super-app with over 150 million customers in more than 45 countries and 500 cities across Europe and Africa (list of locations here). The company offers a range of mobility products for different services and needs:

• Ride-hailing
• Bolt Food, delivering ready-made meals from restaurants
• Bolt Business, our corporate mobility service

The Nest Innovation Park is a trailblazing hub, at the forefront of conversations that shape entrepreneurship in Nigeria.

The partnership with Bolt marks a milestone in their pursuit of driving sustainable economic growth through innovation.