The fifth edition of Unity Bank Plc’s flagship business plan competition, Corpreneurship Challenge, which took place across 10 states last week, saw thirty serving members of the Nigeria Youth Service Corps (NYSC) emerge as winners.
The final business pitch in the fifth edition of the contest for NYSC 2021 Batch A Stream II Orientation Course, which took place simultaneously across ten NYSC camps in Lagos, Ogun, Benin, Abuja, and Akwa Ibom, revealed the 30 winners who earned cash awards totaling N10 million.
Ogun, Kano, Sokoto, Enugu, and Osun were among the other NYSC camps where winners emerged. The financial awards included a N200,000 business grant for each of the second runner-ups, a N300,000 business grant for the first runner-ups, and a N500,000 star reward for each of the ten champions, as in previous editions.
Monday Love Sheba, Adeoye Janet, and Essien Nsikak were among the Bayelsa camp winners, while Agu Ogechukwu Lilian, Obichukwu Victor, and Abiona Elizabeth were among the Akwa Ibom State camp winners.
Olisa Sofia, Chiamaka Goldleen, and Ifeanyi Onoh were the champions in Ogun and received cash prizes. In Sokoto, Ekpenyong Paul Gabriel was likewise declared the winner.
Over 1000 applications were received for the initiative, but only 100 were selected for the pitching session, from which the thirty winners emerged.
Originality, marketability, future employability potential of the product, and expertise of the industry were all factors in judging the contestants’ business proposals, which included fashion, fish production, poultry farming, retail chains, piggery, and drinks.
Recall that Unity Bank inaugurated the Entrepreneurial Development Initiative in 2019, to especially target corps members, as part of efforts to contribute to employment development in Nigeria. The project has produced 48 wins since 2019 when it launched.
Mr. Olufunwa Akinmade, Divisional Head, Retail, SME Banking and E-Business Directorate, Unity Bank Plc, said the competition has shown to have a major impact on youth development in the country during the finals in Akwa Ibom NYSC camp.
“The Unity Bank Corpreneurship has a very positive impact, not only for the corps members but for the entire youth population in Nigeria. It is a way to support the young men and women who are just graduating from university to grow.
“You will agree that it is not easy today to come out of the university and get a paid job, and so at this tender age, it is good that they imbibe that culture of entrepreneurship, and then with the financial support that they get from Unity Bank and the knowledge that they have acquired through the competition, they will be able to grow from job seekers to employers of labour.”
Source: The Vanguard.