In more than 30 years of teaching, research supervision and administration of academic programs in many Nigerian universities, Professor Steve Ibenta was confronted with the challenge of thousands of brilliant and talented young graduates of all disciplines with viable business proposals who are wasting in the country due to weak institutional support, limited access to finance, weak entrepreneurial ecosystem or total lack of economic opportunities. This is the key motivation for the establishment of the Foundation after his retirement from active engagement with the University in 2025.

Professor Steve Ibenta is a distinguished Nigerian academic, Professor of Banking and Finance, and former Dean of Faculty, former Director of University Consultancy Services, University-industry partnerships and International Linkage programmes, and former Chairman of Academic Staff Union and other sensitive Senate Committees at Nnamdi Azikiwe University, Awka, in addition to his recognized leadership roles in the Church, the society and his community. He is a notable researcher and university administrator and an expert in corporate financial decisions and investment analysis and a public intellectual, known for his advocacy on human capital development, industrialization and innovative policies for economic advancement of developing economies.

He also served as an Economic Adviser to the Federal and State governments and Chairman of a Board of MDA in Anambra State of Nigeria. He is an ardent advocate of 'Entrepreneurial Mindset'; with emphasis on job creation, technological innovation, skill acquisition and entrepreneurship development to reduce brain drain and improve the quality of life for young people in Nigeria.