Mofe Binitie is the co-founder of the Oxford Green Partnership (“OGP”). OGP is an Oxford MBA spinout that leverages data and design to develop fintech products focused on the green economy. Their first product is a digital platform that allows investors to fund conservation projects using a market-based mechanism. By utilising data analytics, cloud solutions and AI, the platform will provide the technology infrastructure required for the investing & funding process: payment processing, escrow, reporting (compliance & performance), data room and secure documentation storage.
Mofe Binitie brings half a decade of experience consulting for global multinationals as a consultant for EY to the Oxford Green Partnership. He is a digital product operations specialist whose current focus is on emerging fintech. Mofe has an MBA from the University of Oxford and is a World Economic Forum Global Shaper
What is your background? What made you decide to become an entrepreneur?
OGP started out as a class project analysing Green Funding flows. The data uncovered was humbling; in profoundly adverse ways climate change will disrupt the way we live – 700 animal species are at risk of extinction, 22.5million people will be displaced and 250,000 will die due to malnutrition, malaria and heat stress. We will need an estimated US$750billion to US$950billion to prevent this dire future from happening. So far, US$100billion has been set aside for climate change mitigation & adaptation, less than 10% of this reaches developing countries who are worst hit by the increase in climate-related weather events and resulting conflict from scarcity. I founded OGP in 2018 with a classmate to help bridge this funding gap by leveraging technology, data & design to build new fintech products that will improve access to private capital for green projects.
What is your definition of entrepreneurship?
Turning an idea into a product/service that provides value to all stakeholders.
How and when did you know your idea was good enough to develop it?
After graduation, I had to decide between going back to my old employer or pushing my idea. I decided to take the plunge because I knew I’d always regret it if I didn’t.
What would you say are the top 3 skills that needed to be a successful entrepreneur? Why?
Resilience, patience and speed (paradoxically)
What is your favourite part of being an entrepreneur?
Seeing an idea come to life
What individual, company or organization inspires you most? Why?
Hayden Wood & Amit Gudka of Bulb Energy, for building a challenger energy company that provides 100% green energy at an affordable price without compromising on delivering exceptional customer service.
If you had 5 minutes with the above individual/ company/organization, what would you want to ask or discuss?
How they’ve scaled Bulb into countries with widely divergent industry structures & regulatory regimes without compromising on delivering exceptional service at an affordable price
What would you say have been some of your mistakes, failures or lessons learned as an entrepreneur?
Trying to run before I could walk
How have you funded your ideas?
We have received grants from a number of partners and I have funded the rest of our operations from my day job as a Product Operations Manager.
Are there any sector-specific awards/grants/competitions that have helped you?
Oxfordshire Local Enterprise Partnership Innovation grants have been particularly helpful in supporting us develop new product lines
What is good about being an entrepreneur in Oxfordshire? Bad?
You have access to the best minds and talent in the world
If a new entrepreneur or startup came to you looking for entrepreneurship resources, where would you send them? (Anything Oxfordshire especially!)
The Oxford Foundry, The Said Business School Entrepreneurship Centre and Oxfordshire Local Enterprise Partnership
Any last words of advice?
It’s a long journey, be ready for unexpected turns and twists.