Nigerian lend, Unity Bank Plc has splashed a N10 million business grant to 30 corps members who emerged the winners of the eighth edition of its flagship Entrepreneurship Development Initiative, known as ‘Corpreneurship Challenge’.
The winners emerged after a business pitch that took place across 10 states – Rivers, Delta, Sokoto, Edo, Abuja, Akwa-Ibom, Osun, Kano, Bayelsa and Enugu recently.
At the Rivers State NYSC Orientation camp at Nonwa Gbam Tai, the winners included Moses Obianuju Gloria, a fashion entrepreneur whose business plan won N500, 000 grant for a fabric production company; Emmanuel Godwin Adole, a budding commercial rice farmer who won N300, 000 grant; and Okotie Racheal Dokubere who took home N200, 000 grant to support her fashion production outfit specialising in office and outdoor outfits for women.
In Delta State, where the Corpreneurship Challenge also debuted in this edition, Adegoke Blessing Hezekiah, a fish farmer emerged as the overall winner to claim the N500,000 grant, while Egbelelo Lucky Etanami, a fashion entrepreneur and Tob Tamaraumien Ruth, emerged the first and second runner up to claim N300,000 and N200,000 prizes respectively.
Other winners from other states were also drawn from contestants whose business plans included fish production, poultry, fashion, soap and cake making, printing, pig farming and beverage making.
Prior to their emergence as winners, their business plans were assessed on originality, marketability, future employability potential of the product and knowledge of the business.
Olufunwa Akinmade, Group Head, Retail, E-Business and SME Banking, Unity Bank Plc, stated during the Delta State finals that the competition had steadily evolved into Nigeria’s premier business plan competition for burgeoning entrepreneurs.
“When we started the initiative in 2019, we had set out to inspire a new generation of entrepreneurs in Nigeria. So far, the initiative has resonated with the target audience and there is no gainsaying the fact, that this will continue to have a huge impact on job creation across the country.
Represented by Mr. Abu Igemohia Mohammed, the Regional Manager, Edo/Delta Region, Akinmade reiterated, “As we have maintained, the grants are not a loan and we want the money to be directed towards the profitable ventures which have been selected. We continue to encourage the winners to continue to learn the rudimentary lessons necessary to build a successful business. We emphasize that the budding entrepreneurs who take part in this initiative constantly think about the challenges they will face and put the same energy they all have displayed in preparing for this contest in their businesses as they face their post-service year ahead.”
According to him, the Bank will continue the initiative in order to have a record-breaking impact on job creation and entrepreneurship assistance.
Every iteration of the Corpreneurship Challenge has drawn over 2000 candidates and increased participation, garnering the Bank national acclaim for its influence on young empowerment and employment creation.
The initiative primarily includes a business pitch presentation in collaboration with the NYSC Skill Acquisition and Entrepreneurship Development, SAED, which gives participants the chance to present their company proposals and be eligible to win up to N500, 000 in cash as part of the business grant.
Unity Bank has already contributed more than N100 million to the project, which has resulted in 88 winners since it began.
