events
Bitnox Technology is hosting the October edition of Founders Friday Abeokuta on Friday, 30th October 2026. This month’s session, Terms & Offers, breaks down how to read and interpret a term sheet — essential knowledge for any founder thinking about raising capital. Expect 50+ founders, product showcases, and real conversations.
Founders Friday Abeokuta Returns This October: Terms & Offers
Founders Friday is back, and this October, Bitnox Technology is hosting.
On Friday, 30th October 2026, founders, builders, and operators from across Abeokuta will gather at Bitnox Hub, Oke-Ilewo, for an afternoon of practical conversation, product showcases, and genuine networking. The topic for the month: Terms & Offers — how to read and interpret a term sheet.
First, What Is Founders Friday Abeokuta?
Founders Friday is a monthly gathering of the Founders & Builders Community in Abeokuta. It happens on the last Friday of every month, and the idea behind it is simple: founders learn fastest from other founders.
Each edition brings together startup founders, developers, designers, product people, and early-stage operators in one room for an informal but focused session on a specific topic — fundraising, product, hiring, growth, legal, whatever the community needs most at that point. The format stays consistent:
Conversations — a practical session on the month’s topic, with open discussion rather than a lecture
Product Showcase — an open floor for founders to demo what they’re building and get honest feedback
Networking — unstructured time to meet people who are solving the same problems you are
Abeokuta’s tech ecosystem is growing quickly, but it is still small enough that relationships matter enormously. Founders Friday exists to make sure the people building here actually know each other. Hosting rotates among hubs and companies in the city, and this month it’s our turn.
This Month’s Topic: Terms & Offers
Raising money is exciting. Signing the wrong terms is expensive.
A term sheet is the document an investor gives you that outlines the proposed terms of an investment before any final agreement is drawn up. It is usually short — a few pages — and mostly non-binding. That brevity fools a lot of first-time founders into skimming it. In reality, almost everything that will determine how much of your company you keep, how much control you retain, and what happens if things go well (or badly) is decided right there.
In this session, we’ll walk through the clauses that matter most:
Valuation — pre-money vs post-money, and why the difference costs you equity
Investment amount — what’s actually being committed, and in what tranches
Equity stake — what the investor gets, and what it means for your cap table
Board composition — who gets to make decisions once the money lands
Liquidation preference — who gets paid first in an exit, and how much
Anti-dilution — what protects the investor if your next round is at a lower valuation
The goal isn’t to turn anyone into a lawyer. It’s to make sure that the next time a term sheet lands in your inbox, you understand what you’re reading, know which clauses to negotiate, and know when to call in proper legal counsel.
Who Should Attend
If you are building a startup, planning to raise capital in the next 12 months, currently in conversation with an investor, or simply want to understand how startup funding works, this session is for you. Early-stage founders will get the most out of it, but anyone in the ecosystem is welcome.
Over 50 attendees are expected, including a number of Abeokuta’s most active tech founders.
Event Details
Date: Friday, 30th October 2026
Time: 4:00 PM
Venue: Bitnox Hub, First Floor, Majek Kembo Plaza, 24 Lalubu Road, Oke-Ilewo Road, beside Chicken Republic, Ibara, Abeokuta
RSVP: luma.com/foundersfridaynig
Attendance is free, but we’d appreciate an RSVP so we can plan the space properly. If you’re building something and want to showcase it, mention it when you register.
Save the date, tell a fellow founder, and we’ll see you at Bitnox Hub.
