Three of the winners at Delta NYSC Orientation camp pose
for a photo with their cheques after emerging as winners
In a bid to boost start-up capital and place more
resources at the disposal of aspiring young entrepreneurs in Nigeria,
retail lender, Unity Bank Plc has increased the prize money for winners of
its flagship Entrepreneurship Development Initiative, known as
Corpreneurship Challenge to 16 million Naira per stream.
Consequently, participants who emerge winners in the business pitch will
henceforth win N800,000, N500,000, and N300,000 Business grants for the
1st, 2nd, and 3rd positions respectively as against the previous editions
in which the sum of N500,000; N300,000 and N200,000 were handed out to
respective winners in the Corpreneurship Challenge.
Launched in 2019 with pilots in 4 states – Lagos, Edo, Ogun, and Abuja and
scaled to 10 States in 2020, the Corpreneurship Challenge initiative is
promoted in partnership with the NYSC Skills Acquisition and
Entrepreneurship Development, SAED. The initiative features a business
pitch presentation where participants have the opportunity to present their
business plans and stand a chance to win business grants.
At the recently concluded edition of the Corpreneurship Challenge for 2024
NYSC Batch A, Stream 1 NYSC service, 30 winners emerged including upcoming
entrepreneurs developing innovative solutions in several business value
chains such as Poultry farming, Fashion, and Pastries, among others, after
participating in the business pitch that took place across the 10 NYSC
Orientation Camps in Rivers, Delta, Anambra, Abia, Oyo, Ogun, Kebbi, Niger
Sokoto and Zamfara States.
At the Delta State NYSC Orientation Camp in Issele-Uku, Folorunsho Kolade
who pitched a Poultry farming business plan emerged as the overall winner
to claim the N800,000 grand prize; Samuel Ayodotun. J. whose innovative
footwear venture idea, Basky Footprint took the second spot to win the
N500,000 cash prize; while another corps member, Udoji Chibuike Peter,
whose venture plan on the footwear fashion value chain also emerged as the
second runner-up to claim the N300,000 grant.
Also, at the NYSC Orientation Camp at Nonwa Gbam Tai, Rivers State, Dan
Betobong Samuel’s business plan on food production claimed the top spot to
clinch the N800,000 grand prize; while Linda Christopher’s Lily Pastries’
business plan emerged as the first runner-up to claim the N500,000 grant.
Esther Jacob’s business pitch on the poultry value chain emerged as the
second runner-up to win the N300,000 cash grant.
Speaking at the NYSC Orientation Camp in Rivers State, the Divisional Head,
Retail and SME Banking, Mrs. Adenike Ambimbola commended the participating
Corps Members for the quality of their business plans and pledged the
Bank’s commitment to sustaining the Entrepreneurship Development Scheme.
While congratulating the winners, Mrs. Ambimbola said, “Unity Bank is proud
to associate with the Skill Acquisition and Entrepreneurship Development
(SAED) scheme of NYSC in providing interventions and support to budding
entrepreneurs with promising ventures through the business grants to help
turn these ideas into reality. We recognize the importance of investing in
our youths and empowering them to drive positive change within our
economy.”
Also speaking at the grand finale held in Delta State NYSC Orientation
Camp, Dr. Opeyemi Ojesina, Head of SME Banking, Unity Bank expressed
delight at the Unity Bank Corpreneurship Challenge’s growing profile as a
leading business incubation platform and catalyst for entrepreneurship
development in Nigeria.
He said, “Over the past five years, Unity Bank has steadfastly supported
the Corpreneurship Challenge, witnessing its profound impact on youth
empowerment and job creation nationwide. The programme has earned a
reputation for its innovative approach, seamlessly integrating financial
backing, mentorship, and skill development to nurture aspiring
entrepreneurs.”
Ojesina further underscored the invaluable mentorship offered to
participants, connecting them with seasoned professionals who provide
crucial insights, guidance, and a roadmap for success. He emphasized Unity
Bank’s belief that true empowerment extends beyond financial aid to the
cultivation of entrepreneurial acumen.
So far, Unity Bank has invested over N120 million in the initiative, which
has now produced 369 winners since it was launched in 2019.
In 2021, the leadership of the NYSC bestowed on Unity Bank the “Icon of
Youth Empowerment” award in recognition of the impact of the initiative.
The Corpreneurship Challenge continues to elicit growing interest among the
corps members, attracting over 4,000 applicants and participation in every
edition.
