Institute for Venture Design
Nonprofit Organization Management - , ,
Institute for Venture Design Employees
Institute for Venture Design Details
IVD is a new organization under FATE Foundation with a bold vision to increase prosperity and wealth creation in Nigeria through entrepreneurship and innovation. Our goal, is to ultimately accelerate the rate of technology innovation to drive sustainable economic growth in Nigeria. IVD's flagship program, affiliated with the Centre for Design Research at Stanford University, is a two year fellowship program. Fellows will start with a 6-month team-based, intensive residential training program at our state of the art facilities in Abeokuta. This allows the fellows to identify needs in the market, imagine multiple solutions, create and test functional prototypes of their ideas, create an attractive business around an idea, and pursue capital for deployment and growth. At the end of the 6 months, the product and venture concepts will be evaluated with the most promising concepts awarded angel funding for further development. Phase 2 is the venture incubation phase is when participants set-up their new ventures. With the seed funding and support from the Institute, venture teams will commence business operations at a small scale. At the end of phase 2, the venture will again be evaluated for venture capital funding. In Phase 3, the entrepreneurs from the institute will work on their venture independently while maintaining connections to the institute and its network. Past fellows will be expected to coach the next generations of fellows and participate in institute events.
