On Tuesday, the 30th of September, the energy at Protea Hotel, Owerri, was electric as StartupSouth, in partnership with the African Business Angel Network (ABAN), hosted an intimate pre-event ahead of the IBAN Congress coming up on October 16 in Lagos. More than a warm-up, the gathering marked the official launch of the Imo Business Angel Network (IBAN), a bold step to create a community of local angel investors who will back startups with not just capital, but also mentorship, networks, and the hard-won experience needed to help founders thrive.
The vision is to keep Imo talent at home, create opportunities where they live, and stop the steady exodus of young people chasing funding and validation elsewhere. If angel investing has mostly been a big city affair, this event was a strong statement that the Southeast is ready to grow its own ecosystem.
Setting the Tone
The event was emceed by Onyinye Okonkwo, journalist and media-tech founder, who welcomed participants, encouraged networking, and prepared the room for a day of exchange.
Mr. Uche Aniche, convener of StartupSouth, gave the host’s opening remarks, emphasising the importance of regional capital in building resilient startup communities. Victoria Fagbumi, national coordinator, followed with her perspective on how angel networks across Africa are shaping the continent’s entrepreneurial future.
The microphone then went to Dr. Dave Kalu, Abia State’s Commissioner for Science and Technology, who made one of the day’s most memorable confessions: “I’m here for selfish reasons.” He explained his desire to see the Imo Business Angel Network replicated in Abia, a reminder that regional collaboration and replication are part of the vision.
Madam Chinwe Nwoga, President of the Port Harcourt Chamber of Commerce (and the first woman to occupy the role in over a century), delivered a stirring and practical message on business leadership. She was joined by Tony Amadi, former PH COC President, who also gave a strong and encouraging remark.
Panels and Policy
The first panel, moderated by Onyinye Okonkwo, featured Victoria Fagbumi and Dr Dave Kalu, who explored how policy directly influences angel investors and startup founders. Their conversation pulled back the curtain on the frameworks, incentives, and barriers that often shape investment decisions, a refreshing dialogue that grounded theory in the realities of Nigeria’s startup space.
Lessons From the Trenches
One of the high points of the afternoon came from Chris Burry, Co-CEO of US Market Access Centre, San Francisco, who delivered a keynote titled “Capital as Fuel.” With humour and candour, Chris shared his own journey as a startup founder.
He admitted he has seen both sides, businesses that failed and others that scaled, and reminded the audience that resilience is often the thin line between both outcomes. “I stopped counting after my 700th pitch,” he said, “and of those, only 17 were yeses. But that didn’t stop me.”
His message here was clear to founders, they must learn the art of storytelling if they want to capture investor attention. Numbers and traction matter, but the way a founder frames their vision can be the difference between rejection and support. His lighthearted style and real-world lessons resonated deeply with the audience.
Structuring Capital: A Deep Dive
A second panel session, this time moderated by Uche Aniche, brought together Chris Burry, Steve Adelman (Manager at Nexus Partners), and Justina Mensah to tackle the topic: “Structuring Capital: Angel Syndicates, Investment Clubs, and Local Networks.”
This was no surface-level conversation. Panelists broke down how syndicates and clubs work, why local networks matter, and the importance of founders understanding not just how to raise money, but where their money comes from. For both angels and entrepreneurs, it was a masterclass in practical investing.
Pitches That Matter
The event also gave founders a platform to pitch directly to seasoned investors. startups like Shoptreo, Naila, BMJ Mobility amongst others were a few of those who took the stage, receiving live feedback that went beyond polite encouragement. For the entrepreneurs in the room, this was priceless, access to people who know both the sting of failure and the sweetness of success, and who are willing to share unfiltered advice.
Messages of Support
Closing the formal sessions, Fadila Tchouma, CEO of ABAN, delivered remarks on ABAN’s commitment to strengthening angel networks across Africa. Mr. Onyali Ipe, a member of the government in Imo State, also spoke, pledging support for initiatives that would root investment and innovation in the region.
More Than an Event
Beyond the speeches and sessions, what made the Owerri gathering remarkable was its intimacy. Attendees weren’t just listening to high-level talks; they were sitting with people who had built, failed, and succeeded. They were hearing the gritty truths of startup building, lessons that rarely make it to glossy media stories.
That it was a free event only deepened the gratitude many expressed. Startup founders and Angel Investors alike left with insights they couldn’t have bought elsewhere, proof that with the right structures, South-East Nigeria has the talent and ambition to grow its own thriving startup ecosystem.
Looking Ahead
The Imo Business Angel Network launch is more than symbolic. It is a call to action for local investors to back local talent, for the government to create enabling policies, and for founders to sharpen their pitches,presentation and storytelling.
As the community now looks forward to StartupSouthX and the IBAN Congress in Lagos on October 16, the Owerri gathering will be remembered as the moment Imo’s angel investment journey truly began.
It wasn’t just a pre-event. It was a foretaste of something highly impactful ahead and with the #Startupsouth main event coming up in Port-harcourt 2-3 October, it promises to be beyond imagination.
