E-hailing firm awards €20,000 to top 10 drivers

E-hailing firm, Bolt, has awarded 10 of its drivers with €20,000 seed fund and access to a six-week business mentorship programme. This was done at the ground-breaking Bolt Den initiative of the Bolt Accelerator Programme in Lagos.

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 Programme, 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 programme 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 programme 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 top 10 drivers were unveiled each receiving a €2,000 seed fund and access to a six-week business mentorship programme. Additionally, the top 20 drivers were awarded certificates of participation, and three drivers received laptops for these categories; best pitch, most scalable idea, most innovative idea, and one access to business mentorship with Oliver Wyman.