Kelvin Bowoto
Unity Bank Plc has boosted the prize money for winners of its flagship Entrepreneurship Development Initiative, known as the Corpreneurship Challenge, to N16 million for each stream. This, it stated, was done in order to increase start-up capital and put additional resources at the disposal of Nigeria’s budding young entrepreneurs.
As a result, participants who win the business pitch will now receive N800,000, N500,000, and N300,000 business grants for first, second, and third place, respectively, as opposed to previous editions in which N500,000, N300,000, and N200,000 were awarded to respective winners in the Corpreneurship Challenge.
Speaking during the NYSC Orientation Camp in Rivers State, Adenike Ambimbola, the divisional head of retail and SME banking, praised the Corps members for the excellence of their business plans and reaffirmed the bank’s commitment to the Entrepreneurship Development Scheme. While congratulating the winners, Ambimbola stated, “Unity Bank is proud to partner with NYSC’s Skill Acquisition and Entrepreneurship Development (SAED) scheme in providing interventions and support to budding entrepreneurs with promising ventures through business grants to help turn these ideas into reality. We understand the value of investing in our kids and empowering them to generate positive change in our economy.”
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Speaking at the grand finale at Delta State NYSC Orientation Camp, Unity Bank’s head of SME Banking, Dr. Opeyemi Ojesina, expressed satisfaction with the Unity Bank Corpreneurship Challenge’s growing reputation as a leading business incubation platform and catalyst for entrepreneurship development in Nigeria. He stated, “Over the last five years, Unity Bank has steadfastly supported the Corpreneurship Challenge, witnessing its profound impact on youth empowerment and job creation nationwide.” The program has gained a reputation for its creative approach, which seamlessly integrates financial support, mentorship, and skill development to grow prospective entrepreneurs.”
Ojesina emphasized the vital mentorship provided to participants, linking them with seasoned professionals who provide critical insights, direction, and a path to success. He underlined Unity Bank’s stance that true empowerment goes beyond financial aid and includes the development of business skills.
The Corpreneurship Challenge program was launched in 2019 with pilots in four states—Lagos, Edo, Ogun, and Abuja—and will be expanded to ten states by 2020. It is being pushed in collaboration with the NYSC Skills Acquisition and Entrepreneurship Development (SAED) program. The project includes a business pitch presentation, during which participants can present their business proposals and compete for business grants.
Techrectory with Agency Report.
