30 Corps Members Win Unity Bank Entrepreneurship Challenge Grant
Nigerian lender, Unity Bank Plc, has distributed a N10 million business grant to 30 corps members who have emerged as winners in the eighth edition of its flagship entrepreneurship development initiative, known as the Corpreneurship Challenge.
The winners emerged after a business pitch that took place in 10 states – Rivers, Delta, Sokoto, Edo, Abuja, Akwa-Ibom, Osun, Kano, Bayelsa and Enugu recently.
At the Rivers State NYSC Orientation Camp in Nonwa Gbam Tai, winners included Moses Obianuju Gloria, a fashion entrepreneur whose business plan won a N500,000 grant for a fabric production venture; Emmanuel Godwin Adole, an aspiring commercial rice farmer who won a N300,000 grant; and Okotie Racheal Dokubere who won a N200,000 grant to support her fashion production outfit specializing in women’s office and outdoor wear.
In Delta State, where the Corpreneurship Challenge also debuted in this edition, Adegoke Blessing Hezekiah, a fish farmer, emerged as the big winner to claim the N500,000 grant, while Egbelelo Lucky Etanami, an entrepreneur de mode and Tob Tamaraumien Ruth, emerged the first and second runners-up to claim the N300,000 and N200,000 prizes respectively.
Other winners from other states were also drawn from applicants whose business plans included fish production, poultry farming, fashion, soap and cake making, printing, pig farming and the manufacture of beverages.
To emerge as winners, their business plans were evaluated on originality, marketability, future employability potential of the product, and knowledge of the business.
Speaking at the final in Delta State, Mr. Olufunwa Akinmade, Group Head of Retail, E-Business and SME Banking, Unity Bank Plc, said the competition has gradually evolved into the business plan competition Nigeria’s premium for emerging entrepreneurs.
“When we launched the initiative in 2019, we set out to inspire a new generation of entrepreneurs in Nigeria. So far, the initiative has resonated with the target audience and it is undeniable that it will continue to have a huge impact on job creation across the country.
Represented by Mr. Abu Igemohia Mohammed, the Regional Director of Edo/Delta Region, Akinmade reiterated, “As we argued, the grants are not a loan and we want the money to be directed to the profitable companies that have been selected. We continue to encourage winners to continue learning the rudimentary lessons needed to build a successful business. We emphasize that the budding entrepreneurs who participate in this initiative constantly reflect on the challenges they will face and put the same energy that they have all shown in preparing for this competition into their businesses as they face their year after service. coming.
He said the Bank would maintain the program to achieve record impact in supporting entrepreneurship and job creation.
The entrepreneurship challenge, which has earned the Bank national recognition for its impact on youth empowerment and job creation, continued to generate growing interest among corps members, attracting more than 2,000 applicants. and participating in each edition.
In partnership with NYSC Skill Acquisition and Entrepreneurship Development, SAED, the initiative highlights a business presentation that offers participants the opportunity to showcase their business plans and have a chance to win up to N500,000 in cash in the business grant.
So far, Unity Bank has invested over N100 million in the initiative which has now produced 88 winners since its launch.