#59 Olumide Soyombo

Building The Future Podcast

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 the cheques he wrote 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