8 Million naira Grant For Entrepreneurs To Boost Their Businesses
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At the CrossPoint Innovate Pitch and Grant Conference, ten young entrepreneurs from around Nigeria were awarded N8 million in grants to help them grow their enterprises.
Crosspoint Innovate, a training, mentorship, and empowerment platform for young people and entrepreneurs, launched the grant project in its first year.
The pitch competition received 1,000 entries, from which 10 entrepreneurs were chosen to pitch for funds to help their company develop.
Ladipo Soyombo, the initiative’s leader and Lead Pastor of CrossPoint Church, said the grant process evolved out of his growing concern for young people and businesses battling with the worldwide epidemic and seeking opportunity to prosper.
“Since the COVID-19 epidemic and the social upheaval that followed the #endsars, we’ve seen that millions of our young people want to express themselves and contribute to society, but possibilities are few in Nigeria.” “We chose to interact with individuals to figure out what to do, and then we started training to help people realize their full potential,” he explained.
Soyombo said the awards will be worth N8 million, with the top three entrepreneurs who submitted the best concept receiving additional funding to help grow their firms.
Emergency Station by Elcutiee, Maximus Recycling Solutions, and Keramel Naturals took first, second, and third place for the CrossPoint innovate grant of N2 million, N1.5 million, and N1 million, respectively, after a series of spirited pitches from the top ten competitors, while the other seven runners-up received grants of N500,000 each.
The keynote speaker, Babatunde Fajemirokun, Managing Director, AIICO Insurance, who spoke on “Building a Thriving Business in Turbulent Times,” said Nigeria is at a crossroads, with a high misery index, which is a combination of high unemployment, inflation, poverty, and other factors, and people leaving the country in large numbers every day.
According to him, the pandemic’s disruptions have spurred a rethinking of business models’ economics, since economic crises, government policies, and changes in customers’ taste and hunger, which occur more regularly, can lead to a more unpredictable operating environment.
According to him, the pandemic’s disruptions have spurred a rethinking of business models’ economics, since economic crises, government policies, and changes in customers’ taste and hunger, which occur more regularly, can lead to a more unpredictable operating environment.
He stated that the purpose of doing business should be to answer customers’ issues in a way that creates revenues and gives a return on the initial investment.
The finest leaders, according to Fajemirokun, create an environment where ideas are openly shared and preconceptions are questioned, with money distributed effectively.
He did, however, encourage entrepreneurs to use the subsidies they were granted to expand their enterprises and aim to be among the world’s best.
8 Million naira Grant For Entrepreneurs To Boost Their Businesses
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