BOI/AGDC/First Bank Youth Ignite Initiative for Young Nigerian Entrepreneurs, 2017


In light of the recent economic downturn, development strategies that create new jobs and support the growth of businesses are of greater need than ever. Microenterprises play a critical role in this quest as they account for a larger share of newly created jobs. However, only a fraction of these start-ups survive for more than two years or even develop into the high-growth firms.
Amongst the biggest barriers to their sustained growth are lack of access to training, development support, and access to funding. The “Youth Ignite” Project (under the Bank of Industry’s (BOI) Microenterprise Finance Program) seek to address these challenge by supporting 1 million entrepreneurs to create 5 million jobs over the next 5 years.

Title: BOI/AGDC/First Bank Youth Ignite Initiative 2017 for Young Nigerian Entrepreneurs

Description

  • BOI in Partnership with AGDC presents Youth Ignite Initiative – a platform where innovative ideas are brought to life.
  • The main objective of the project is to create new jobs through entrepreneurship by supporting 1 million entrepreneurs over the next 5 years to create 5 million jobs.
  • Prerequisites for the contest

Looking for:

  • Talented, creative and dedicated young people who have an existing business or idea that they believe in and are committed to bringing to life.

Eligibility

  • Applicants must be of Nigerian nationality
  • Applicants must be between the ages of 18 – 35.
  • Failure to verify age will result in the application being declined.
  • Applications must articulate a specific business problem to solve or opportunity to address.
  • Applicants must be clear on the benefits from the loan.
  • Employees of Bank of Industry, FirstBank, AGDC, Digital Jewels Limited, etc. and their families are not eligible to apply.
  • The Judges’ decisions are final.

Benefits

  • Accepted participants will gain access to loan of up to Two Hundred Thousand naira (N200, 000) as well as skilled expertise to help them with their business strategy and growth.
  • All selected applicants are required to attend a business boot camp to refine their business strategy
  • All selected participants automatically become part of a community of change-makers, pioneers, explorers, problem-solvers and venture builders.

Shortlisted ideas/business to will access the following

Duration of the Programme

  • Loan cycle – 12 months (3 months’ moratorium, 9 months’ repayment)

Closing Date
13th March, 2017

How to Apply
Interested entrepreneurs should visit www.youthignite.ng website to apply
Entries must be submitted online within the specified timeframe and conform to specified guidelines and terms and conditions of participation clearly outlined on this website.
All entries will be reviewed by the Panel of Judges who consist of carefully selected accomplished professionals from all walks of life.


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