The competition, already in its 7th edition, produced the 30
winners during the final business pitch for the 2021 Batch C Stream I corps
members, which took place simultaneously across 10 NYSC camps in Lagos,
Bayelsa, Ogun, Benin, Enugu, Sokoto, Akwa Ibom, Osun, Kano and Abuja.
Conceived as an Entrepreneurial Development Initiative in
2019, a part of the lender’s strategic drive to penetrate the youth market, the
Bank doles out cash prizes of N200,000 as a business grant for each of the
second runner up, N300,000 business grant for the first runner ups and a star
prize of N500,000 for each of the Corpreneurship Challenge winners.
In this latest edition, some of the winners included Madukwe
Juliana Uchenna, who claimed the star prize, while Michael Ngbede Barnabas and
Akinpelu Fadekemi Itunu emerged as the first and second runner ups in the
Bayelsa camp.
In Lagos, Olawale Moshood Mohammed, Ifeanyi David Agwu and
Aderonke Victoria Ogunyade emerged winners to claim the cash prizes.
The competition has continued to elicit massive interest
among the corps members and attracts no fewer than 1,000 applications on each
edition. In this edition, 100 applicants were shortlisted, out of which, 30
emerged winners to claim the various cash prizes.
The contestants’ business plans which ranged from fish
production, poultry farming, fashion, soap and cake making, printing, piggery
to beverages were assessed on originality, marketability, future employability
potential of the product and knowledge of the business.
One of the winners, a graduate of the University of Lagos,
whose business plan on fingerlings farming won the star prize in Lagos NYSC
camp commended Unity Bank for the opportunity, as he said the grant will be
utilised to expand his business to bridge the growing deficit in fish supply in
Nigeria.
He said: “I pitched about fingerling farming and that was
because of the 2.5 million metric tonnes deficit in fish supply in Nigeria.
That has encouraged me to try to bridge the gap and I really appreciate Unity Bank
for this opportunity.
I am very happy that they created this avenue to help
entrepreneurs like myself, which will really go a long way to improve the
economy of the country. This has been a family business and this grant will
really help us to expand the business and work towards bridging the deficit.”
Speaking during the finale in Lagos, the Group Head, Retail,
E-Business and SME Banking, Unity Bank Plc, Mr. Olufunwa Akinmade, said the
competition is gradually maturing as Nigeria’s premium business contest for
emerging entrepreneurs.
“We are satisfied with the level of progress we have made
with the Corpreneurship Challenge. In every edition, we are excited to see that
the level of interest keeps growing stronger and we are impressed with the
quality of business ideas that the corps members keep churning out.
“As we have maintained, the grants are not a loan and we
want the money to be directed towards profitable ventures.
The winners must devote their time to learning the
rudimentary lessons necessary to building 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.”
Speaking further, Akinmade maintained that the Bank will
sustain the programme in order to achieve a record impact on entrepreneurship
support and job creation.
He said: “This is a programme that will stand the test of
time, but all we are doing is to support NYSC corps members to start their own
business no matter how small and then grow with it. Unity Bank is there and we
are offering them a startup capital as well as business mentorship.”
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