LOOPLab Incubation Programme: One Month Done, Five Months to go

LOOPLab Incubation Programme: One Month Done, Five Months to go

One month ago, the Circular Lagos Challenge 2022 was completed, handing over the baton and mandate – to equip the Innovators with the necessary tools and knowledge to successfully manage and acquire funding for their ideas, to the LOOPLab Incubation Programme.

LOOPLab Incubation Programme has successfully completed the first month of her six months journey with the innovators.

Here’s what Babatunde Adebayo of Eco Circular Solutions Provider Ltd, one of the LOOPLab Innovators, has to say about the past one month in the LOOPLab Incubation Programme:

“The first month of LOOPLab innovation program has been enlightening, eye opening and full of insight for the future. In a conversation I had with a friend I coined the term “foresightful” to sum it up. I used the word “foresightful” because what they’re teaching us is not just a brief session but it’s for a lifetime and even generations to come as regards the knowledge on circular economy, what it looks like and how the economy operates.

I will start with the first class that taught us about circular economy models, thanks to Dr. Natalie. It was in this class I was made to understand that product design is part of circularity. My company currently focuses on using paper waste as material to create recyclable and ecofriendly ceiling tiles. Prior to now we had considered that we were doing quite well but the session challenged us to do better. I was forced to ask questions about our processes and product design to ensure that in trying to solve an environmental problem using waste materials, we did not become a part of the problem.

I shared the insights with my team and we immediately began to implement them. We defined our ceiling tiles clearly and added a new motto: We have affordable ceilings made from paper waste that are 100% recyclable, eco-friendly and inexpensive. We also started taking away additives that had previously prevented our ceiling tiles from being recyclable after use. I would say that I found one thing to be essential – Don’t cause another problem in your bid to be a solution, always consider all the options. I thank LOOPLab Incubation Programme and CEIP for this insight.

Secondly, the first month has been filled with lifetime amount of knowledge impacted on me and the other innovators as regards the issues of Financial Management and Accounting. Permit me to say a very big thank you to Dr Abimbola Osuchukwu, Senior Lecturer CEIBS for her session. I know a little about accounting, as it is important to know where your revenue comes from and how much of it is really profit and not just operating cost. The session was filled with practical examples that I shared with the financial lead of my organization.  I am looking forward to the Individual Advisory Sessions with Dr Abimbola, to follow up on the application of the information received in my organization and on a lighter note show off my improved financial vocabulary as I have gotten familiar with the terminologies.

I learnt about Corporate Culture and Building Agile teams, in a thought provoking session with Dr. Anderson. True to the title of the session, we were asked to invite a member of our team to allow for active participation. It was a virtual session to remember as we were taught to identify the strengths and weaknesses of our team members and create a detailed plan for their improvement. Thanks to Dr. Anderson, for the superb Corporate culture and Team session which has helped us redefine our mission, vision and core values. As a Circular Business Owner, I learnt it is important to ensure that what is promised to consumers or target audiences is what is delivered and by so doing ensure that the business doesn’t lose its momentum after a couple of years. Sustainability is of utmost importance.

There were weekly check-ins and a lot of opportunities to get to know fellow innovators in the Programme, we were able to bounce ideas off each other and contribute creatively to our growth. I am grateful for this opportunity to network and offer value.

We closed the first month with the Opportunity Scanning Workshop with Mr. Kofi Gyamfi, a representative from Unilever, West Africa. A part of our culture in my office is that we collect waste through partnerships, community service, purchasing and advocacy. This opportunity scanning opened our eyes to indulge in more advocacy. We were exposed to the needs of Unilever and how we can position ourselves to fill the need.

I am grateful to all the organizing bodies of the LOOPLab Incubation Programme for the opportunity and tools given to me. I sincerely believe that it is a life time opportunity that would out-live others and serve generations to come, as the building blocks to foster and encourage not just Circular Businesses, but a Circular Lagos, Nigeria and Africa.

Thank you.”

 

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