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Why We’re Attracted to Founders with Clear Direction for their Startup – Ifeoluwa Adepoju
Ifeoluwa Adepoju, a lawyer with over 6 years of legal experience. She is an LLM graduate of Business Law and currently heads the legal and compliance team at Future Africa. Ifeoluwa has worked with over 50 startups giving her current role in a VC firm and in her capacity in the tech ecosystem. In this interview with Ugo Onwuaso, she shares her experience assisting startups set up structures, scale and fund-raising processes. Excerpts:
Ifeoluwa Adepoju,
What actually led you to pick interest in startups?
I’ve always been drawn to startups because they’re like the underdogs with big dreams. Imagine this: a small group of people with a brilliant idea, working hard to turn it into something amazing. That kind of energy and determination is contagious.
Before I moved into the VC space, I have worked with many founders and their needs to get the right team, the right agreements, getting them ready to becoming investable, starts right from the formation of the company.
There’s this one startup I worked with early on. They had this revolutionary concept, and I got to be a part of their journey. We faced challenges together, including legal complexities, and celebrated victories.
Seeing them grow from a small idea to a successful venture was incredible, and it fueled my passion for helping startups thrive.
It’s like being part of a story where every small decision can make a huge impact. That’s why I love startups – they’re full of potential, surprises, and the thrill of making things happen.
A lot of startups struggle to raise funds. What do you think is responsible for this?
It is one thing to have a great idea; it is another to tell your story. The impact of storytelling is great when it comes to storytelling. One thing that makes each compelling story about how their product or service addresses a real market need is crucial in attracting investor interest.
Investors are not just looking at numbers; they want to be captivated by a story that resonates with the problem the startup aims to solve.
When startups can articulate their journey in a compelling way, it humanizes the business, making it relatable and memorable.
The power of storytelling lies in creating an emotional connection, helping investors understand not just what the startup does, but why it matters. a well-crafted narrative helps startups stand out in a crowded market. It differentiates them, making them more memorable amidst numerous pitches.
Successful fundraising often starts with a captivating story that leaves a lasting impression on potential investors, compelling them to be a part of the startup’s journey.
What are the things startup founders must bring to the table to convince VCs to make investment decisions?
Clear Vision and Mission: A well-defined vision and mission that communicates the startup’s purpose and long-term goals. VCs want to invest in founders who have a clear direction for their company.
Transparency and communication
Coachable founders and Capable Team: A skilled and dedicated team with relevant expertise. VCs invest not only in ideas but also in the people behind them and people who are teachable
Traction and Milestones: Demonstrable traction and achieved milestones, showcasing that the startup has made progress and has the potential for scalability. This could include user growth, revenue, partnerships, or product development milestones.
Market Understanding: In-depth knowledge of the target market, including a thorough understanding of competitors, potential challenges, and the overall industry. VCs want to see that founders have conducted comprehensive market research.
Effective Storytelling: The ability to tell a compelling story. Founders should be able to communicate their journey, challenges faced, and how they overcame them. Storytelling helps create an emotional connection with investors.
Scalability Plan:
There is ongoing debate as why VCs prefer to invest in a Deleware Corporation than an LLC. What is your take on that?
Registering a company in Delaware, whether as an LLC (Limited Liability Company) or a Corporation, is a popular choice for many businesses due to Delaware’s favourable business-friendly laws for startups.
LLCs are “pass-through entities,” meaning that profit (or loss) is passed through to the owners as income, and is taxable as such. VCs want no part of this as they are not investing solely to have any of the profits or losses of these businesses pass through to them.
Instead, VCs want to invest in C corporations, where the profit and loss are ascribed to the business and not the owners, allowing losses to be used to offset future revenues for tax purposes.
This does not mean that some VCs are not opened to taking on these risks and there are other options available to the VCs as well which I am writing on and should be published soon.
When is a startup due to have a board ?
It is never too early or late. What matters is having the right members who have the same goal and passion with you. You can wait till you become big and still not.
This year we have witnessed some startups shutting down business/operations. Some due to financial mismanagement, economic situations, lack of skills. But for you, do you think there are foundational challenges with startups, especially in Africa?
Beyond the personal mismanagement by founders, where fundraising is sometimes viewed as an opportunity for personal financial gain rather than contributing to the company’s overall objectives, I’ve identified additional critical factors.
One major concern is the regulatory environment, which often lacks the conducive conditions necessary for a thriving business in many African startup ecosystems.
Furthermore, the engagement of shareholders and venture capitalists (VCs) post-investment is crucial. The lack of follow-up by investors can pose a significant challenge.
This emphasizes the importance of a robust board that includes experienced mentors. With the right board members providing guidance and mentorship, startups stand a better chance of navigating challenges and achieving scalable growth.
As Africa stands at the threshold of a digital revolution, Carbon AI has officially announced the AI in Action 2026 conference, scheduled for January 22, 2026, at the Lagos Oriental Hotel.
In a statement in Lagos, Debola Ibiyode, Convener of AI in Action 2026 and CEO of Carbon AI, disclosed that the AI in Action 2026 conference aims to move beyond the typical industry hype to focus on practical, homegrown innovation under the theme: “Driving Productivity, Innovation, and Sustainability—Building the Future in AI Together.”
“AI in Action 2026 is designed as a high-impact platform where deep-tech innovation meets real-world application. The conference will specifically explore how Large Language Models (LLMs), Agentic AI Frameworks, and Generative AI can be harnessed to power Africa’s transformation,” she noted in the statement.
Debola also emphasizes that the time for mere discussion has passed, stressing that AI in Action 2026 is for people who want to do more than just talk about AI; it’s for those ready to build, apply, and lead.
“We aren’t chasing hype or funding; we are chasing real impact. Our mission is to empower budding founders to turn ideas into deployable solutions while championing responsible AI adoption that creates measurable social and economic change across the continent,” she added.
The statement explains that the conference features a curated experience designed to foster genuine collaboration. It includes keynote speeches and panels that offer deep dives into Generative AI, Agentic Frameworks, and their intersection with global sustainability.
Attendees can participate in practical workshops with hands-on sessions focused on building, deploying, and scaling AI tools. The event also features a startup and product showcase that highlights cutting-edge, African-built AI solutions.
Additionally, dedicated mentorship and networking sessions will connect early-stage founders with seasoned practitioners and industry leaders.
The event is a call to action for a diverse cross-section of the ecosystem, including Software and AI Engineers, Data Scientists, Business Leaders, Educators, Policymakers, Students, and ICT Infrastructure companies, enabling AI deployment, including datacenter providers. By bringing these groups together, the conference seeks to ensure the AI revolution is inclusive, ethical, and sustainable.
AI in Action 2026 Now offers tiered sponsorship packages for organizations looking to position themselves at the forefront of Africa’s technological future. Sponsors will gain direct access to a unique demographic of decision-makers and the next generation of AI talent.
“Africa’s digital revolution must be homegrown. Whether you’re building solutions, shaping policy, or mentoring young innovators, this is your platform. Together, we’re not just discussing the future, we’re building it,” she concluded.
President Donald Trump has warned that the United States could carry out further military strikes in Nigeria if Christians continue to be killed, reigniting a sensitive debate over religious violence and foreign intervention in Africa’s most populous nation.
President Donald Trump
Trump made the remarks in an interview with The New York Times, published on Thursday, while responding to questions about a US military strike carried out in Nigeria on Christmas Day.
At the time, the US military said the operation targeted Islamic State militants in north-west Nigeria and was conducted at the request of the Nigerian government.
Nigeria, however, described the operation as a joint counterterrorism effort, stressing that it was aimed at armed groups designated as terrorists and “had nothing to do with a particular religion”.
“I’d love to make it a one-time strike,” Trump was quoted as saying. “But if they continue to kill Christians, it will be a many-time strike.”
Pressed on comments by his own Africa adviser that extremist groups such as Islamic State and Boko Haram have killed more Muslims than Christians in Nigeria, Trump acknowledged that Muslims were also victims but insisted that Christians were being targeted disproportionately.
“I think that Muslims are being killed also in Nigeria. But it’s mostly Christians,” he said.
Trump has repeatedly raised alarms about the safety of Christians in Nigeria, beginning in late October when he warned that Christianity faced what he described as an “existential threat” in the country. He has accused Nigerian authorities of failing to adequately protect Christian communities and has openly threatened US military intervention if the violence continues.
Nigeria has firmly rejected claims of systematic persecution of Christians. The government maintains that the country’s security challenges are complex and largely driven by insurgency, banditry and criminal violence rather than religious targeting.
With a population of more than 230 million people, Nigeria is almost evenly divided between Christians, who are concentrated mainly in the south, and Muslims, who predominate in the north. Islamist insurgencies, particularly Boko Haram and its offshoots, have plagued parts of northern Nigeria for more than a decade, killing thousands and displacing millions.
Nigerian authorities have repeatedly pointed out that militant attacks have claimed the lives of both Muslims and Christians, arguing that framing the violence along religious lines oversimplifies the crisis and risks inflaming tensions.
Following Trump’s earlier threats, the Nigerian government said it was willing to continue cooperating with Washington in combating terrorism but rejected language suggesting that Christians alone were under threat.
The latest comments are likely to strain diplomatic relations further, as Nigeria balances its partnership with the United States against concerns over sovereignty, security cooperation and the portrayal of its internal conflicts on the global stage.
OpenAI maker of ChatGPT is rolling out a health-focused feature to the generative artificial intelligence (AI) tool that’s used by nearly a billion users.
Named ChatGPT Health, the new feature aims to provide users with health and wellness information. This, as health is one of the most common ways people use ChatGPT, according to OpenAI.
In a blog post, Microsoft-backed OpenAI says de-identified analysis of conversations show that over 230 million people globally ask health and wellness-related questions on ChatGPT every week.
ChatGPT Health will also “securely” connect medical records and wellness apps to ground conversations with a user’s own health information, making responses more relevant and useful.
“Designed in close collaboration with physicians, ChatGPT Health helps people take a more active role in understanding and managing their health and wellness – while supporting, not replacing, care from clinicians.”
According to OpenAI, health information is often scattered across portals, apps, wearables, PDFs, and medical notes making it hard to see the full picture, and people are left to navigate a complex healthcare system on their own.
“ChatGPT Health builds on these so responses are informed by your health information and context. You can now securely connect medical records and wellness apps – like Apple Health, Function, and MyFitnessPal – so ChatGPT can help you understand recent test results, prepare for appointments with your doctor, get advice on how to approach your diet and workout routine, or understand the trade-offs of different insurance options based on your healthcare patterns.”
According to the company, ChatGPT Health is designed to support, not replace, medical care, adding that it is not intended for diagnosis or treatment. “Instead, it helps you navigate everyday questions and understand patterns over time – not just moments of illness – so you can feel more informed and prepared for important medical conversations.
“To keep your health information protected and secure, Health operates as a separate space with enhanced privacy to protect sensitive data. Conversations in Health are not used to train our foundation models. If you start a health-related conversation in ChatGPT, we’ll suggest moving into Health for these additional protections.”
OpenAI adds that access to ChatGPT Health has started with a small group of early users to learn and continue refining the experience, adding that users with ChatGPT Free, Go, Plus, and Pro plans outside of the European Economic Area, Switzerland, and the UK are eligible.
“As we make improvements, we plan to expand access and make Health available to all users on web and iOS in the coming weeks.
“Medical record integrations and some apps are available in the US only, and connecting Apple Health requires iOS.”
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