Co-founder Ifeoluwa of AWA Bike, an Ingressive Capital portfolio company solving transportation problems in Africa shares his experience as a startup founder and some lessons for aspiring entrepreneurs.
1. Hello, it’s great to have you on Ingressive Capital, can you tell us a bit about yourself?
I’m Ifeoluwa Ogundipe, I’m a Lawyer by education with a Bachelor’s degree in Law from the University of Lagos and a Masters in International Law (LLM) from Queen Mary University London. I also have an MBA from Grenoble Ecole de management with previous work experience in Law, Finance and Private equity.
2. What was growing up like and how did your childhood experiences impact the person you are today?
Growing up was full of different experiences, which I’m grateful to my parents for as they tried their best to make me see life from different cultures and build a competitive spirit by helping me get involved in a lot of sports.
I think the fact that I have experienced many cultures and countries has helped me in trying to see how solutions from other cultures can work here in Nigeria.
3. Let’s talk about your business, did you ever foresee it being birthed and growing up to this scale?
Not really to be completely honest but in entrepreneurship, one must always remain cautiously optimistic; hence a part of me will say yes. I’ve always been one with an innovative mindset and willing to try completely different things, I tried my hands on a couple of things in University and after that didn’t really work out but I am grateful to God for Awabike and the continuous growth.
4. How did your entrepreneurship journey begin and have been the most rewarding aspects for you?
My entrepreneurship journey began in my University days, I tried to run a nationwide electronics delivery/haulage service but that did not really scale and the during my MBA program in Grenoble, France was when I had my Eureka moment because I had to use a bicycle for the entirety of the program which was a shared service and I thought to myself, “what if I implemented this back home?” and that’s how everything kicked off. The most rewarding aspect for me is actually seeing how this product eases the pain customers face in their daily commute. It’s also rewarding to see what was just a dream to become a reality.
5. Are there moments you want to run back to the safety of paid employment and what keeps you going on such days?
Well honestly, yes but on such days, I remind myself that the Awabike dream is much bigger than me and it’s very important to keep moving.
6. Name 2 things you appreciate about your industry?
The innovative capacity of the stakeholders in the micro mobility tech space is amazing. Also, the fact that most of this innovation is being driven by highly intelligent youths is also pleasing.
7. What are the most important lessons you have learned in your line of business?
Put simply, it’s Resilience. It’s also important to grow a thick skin as there would be lots of disappointment and people would tell you things you either don’t want to hear or that are hurtful. Planning is also key, but the execution is equally as important.
8. How has Ingressive Capital impacted your business?
Ingressive has been very helpful and I’m glad they’re a part of our business. From cash investments to on-demand business support and advice, to networking and access to personnel or opportunities that can drive business growth. Ingressive has been very helpful in all of these areas
9. What excites you most about the work you do? Is there a case study you can share with us that can demonstrate the kind of impact you’re excited to be making?
The impact; Definitely the impact. It’s really about being able to go to the areas where we are operational and see first-hand how individuals use our product. I remember after our launch in LASU, going back to the campus and seeing people make their trips easily and flexibly using our product. It felt really good to be providing a product required by the market
10. Tell us about your journey and what key moments in your life/career have led you here?
I believe every step of my career so far has led me to this moment. Most especially because I use a mix of experience garnered from my personal and professional life in my daily activities. From law to banking to private equity, I’ve had to draw from each and every experience on my journey as an entrepreneur so I believe the various experiences were in preparation for this role.
11. What do you wish more people knew about your business?
That we are not an Okada hailing company lol. Many times, people hear AWA Bike and ask me if it’s an Okada hailing company.
12. What excites you about being a part of Ingressive Capital?
The fact that I belong to a supportive group, where I can also meet high-level like-minded individuals and discuss common interests with the aim of becoming a successful company
13. Challenges within your industry?
Regulation, Infrastructure, and Security
14. Describe a time that you failed while building your business/career, and what did you do to bounce back?
Haha there are so many stories and it’s hard to pick a particular one. More importantly, failure is something we should always be prepared to accept; the norm with us is to treat it as a bad thing, but it actually is one of the most important contributors to the learning process. the bad thing, but it actually is one of the most important contributors to the learning process. Entrepreneurs must always be prepared to fail, learn and then get it right.
15. What excites you about being an entrepreneur?
The fact that as entrepreneurs, especially in a country like Nigeria, we have the opportunity to create businesses that would drive the future of the country.
16. 3 books you recommend for entrepreneurs?
The Lean Startup by Eric Ries, The Entrepreneur Mind by Kevin D. Johnson and Rich Dad, Poor Dad by Robert Kiyosaki
17. 3 words that describe you?
Confident, Resilient and Innovative.
18. What would you say to your younger self?
Keep going, life is going to get a lot more interesting.
19. Finish this sentence; the career I choose allows me to?
Be whatever I want to be. There is no specific way to end up in a certain role or career. As long as you can see it, then it’s achievable. Go ahead, if there’s a career you want to try (especially if you’re young) try it!
20. What is the best career advice you have received?
I’m not sure as I didn’t have people to advise me on careers when I was younger. I just sort of went with it.
21. If you had to host 3 iconic people for dinner, who has a sit at your table?
Elon Musk, Jason Njoku and Mr. Eazi
22. Where can we find you on social media?
I’m not really active on social media, but you can definitely find me on LinkedIn – Ifeoluwa Ogundipe and Twitter – @iyiolaog
23. Any advice to entrepreneurs just starting out?
Focus on your work and the quality, no compromise for quality and treat your people well. Also, be resilient and never give up because challenges will come but you have to stay focused and resilient.
