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S008: How I Started BudgIT – with Seun Onigbinde

September 14, 2016
Seun Onigbinde

S008: How I Started BudgIT – with Seun Onigbinde

BudgIT Founder, Seun Onigbinde, was stuck as an executive at First Bank for three years. In the light of this, he started looking for a way out. He got his opportunity when his startup idea came second in a hackathon organized at the Co Creation Hub, Lagos, and has not looked back since then. Seun shares in this episode how he came to meet his cofounder, Joseph and how they both built BudgIT to where it is today.

In this episode, you will learn

  • how the idea for a data visualization platform for budget and public data (which we know now as BudgIT) came about,
  • how he met his partner, Joseph  Agunbiade,
  • how the name “BudgIT” came up,
  • how they raised over 2 million dollars to fund their startup,
  • what BudgIT has accomplished so far, and
  • the most discouraging and encouraging feed backs he has gotten so far.

About BudgIT

BudgIT is a civic organization that uses technology to ensure transparency and accountability in government spending. It now has over 2000 unique data requests from private, corporate and development entities/individuals.

Because of this, BudgIT is now widely regarded as a trusted hub for public finance data in Nigeria. Consequently, Forbes listed it as one of the top five exciting startups to watch out for in 2013.

BudgIT
BudgIT, Lagos, Nigeria (Photocredit: techpoint.ng)

The Problem BudgIT Solves

Many people are critical of governance in Nigeria and a host of other African countries. However, there have been little or no data to back up many claims despite the continued public cry. BudgIT Founder, Seun Onigbinde, shares in this podcast, how his social venture provides this information using infograhs. This information includes government financials such as budgets, expenditures, etc.

In Conclusion,

There are many reasons why you should listen to the words of BudgIT Founder, Seun Onigbinde. But worthy of note in this podcast is how he has used both constructive and negative feedbacks to grow stronger. Also Listen to this podcast with Seun Onigbinde, to learn what new steps BudgIT is taking to ensure sustainability.

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About Swiych

Swiych is Podlobe’s interview based channel focused on bringing you entrepreneurs, business owners, and enthusiasts, whose experience you can learn from. Hosted by Samuel Adeoye (a.k.a Se7en), Swiych is a 10-15 minute weekly podcast show.



Today's Guest

BudgIT founder, Seun Onigbinde reveals the story behind the success of his startup. Seun left his job as an executive of First Bank to start his social enterprise, BudgIT. Seun Onigbinde graduated as an Electrical Engineer from the University of Agriculture, Abeokuta before proceeding to the Graduate School of Business, Standford University. Onigbinde is an Ashoka Fellow and has won several renowned awards.

Episode Takeaways

In this episode, you will learn

  • how the idea for a data visualization platform for budget and public data (which we know now as BudgIT) came about,
  • how he met his partner, Joseph  Agunbiade,
  • how the name “BudgIT” came up,
  • how they raised over 2 million dollars to fund their startup,
  • what BudgIT has accomplished so far, and
  • the most discouraging and encouraging feed backs he has gotten so far.

Bonus Track

Bonus Tracks are short cuts (1 to 5 mins long) from our interview with guest that are not included in the main podcast. We find them useful, but cannot include them in the main podcast because of our show length policy.

CHALLENGES BUDGIT FACES

Resources

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