A Nigerian technology company, FunZ, has unveiled a N25 million entrepreneurship contest aimed at challenging young Nigerians to develop innovative business ideas. Alongside the competition, the company launched an event ticketing app designed to connect event organizers with prospective attendees.
The app allows event organizers to upload upcoming events while enabling users to purchase tickets directly on the platform. It integrates advanced fintech solutions for secure payments and real-time transactions, offering a seamless ticket-buying experience.
Speaking at the launch, FunZ founder and CEO Nate Ikechi said the business game was created to empower young Nigerians who have viable business ideas but lack the capital to start. The contest is open to Nigerians aged 18 to 40, with a registration fee of N100. It aims to onboard 100,000 participants in its first stage, narrowing down to 16 finalists through a voting process similar to reality TV shows. The finalists will be grouped, and the team with the most impactful business idea will win the grand prize.
“We want to provide young Nigerians with an opportunity to showcase their entrepreneurial ideas, even if they don’t already have a business,” Ikechi said. “This initiative is about helping them bring those ideas to life with funding and mentorship.”
During the app’s live demonstration, Ikechi highlighted its unique features, emphasizing how it enhances ticket purchasing and streamlines event organization.
Keynote speaker Eddy Lawani praised the innovation, stating that it would address bottlenecks in Nigeria’s event and entertainment industry. However, he also warned that security risks, internet glitches, and potential hacking threats must be managed to maintain trust in the platform.
FunZ aims to merge entrepreneurship with technology, providing young Nigerians with opportunities to turn ideas into profitable ventures while simplifying access to entertainment through its ticketing app.
