Unity Bank Plc has increased the prize money for winners of its flagship Entrepreneurship Development Initiative, known as Corpreneurship Challenge to N16 million per stream.
This, it said, was in a bid to boost start-up capital and place more resources at the disposal of aspiring young entrepreneurs in Nigeria, retail lenders.
Consequently, participants who emerge winners in the business pitch will henceforth win N800,000, N500,000, and N300,000 Business grants for the 1st, 2nd, and 3rd positions respectively as against the previous editions in which the sum of N500,000; N300,000 and N200,000 were handed out to respective winners in the Corpreneurship Challenge.
Speaking at the NYSC Orientation Camp in Rivers State, the divisional head, Retail and SME Banking, Adenike Ambimbola commended the participating Corps Members for the quality of their business plans and pledged the Bank’s commitment to sustaining the Entrepreneurship Development Scheme.
While congratulating the winners, Ambimbola said: “Unity Bank is proud to associate with the Skill Acquisition and Entrepreneurship Development (SAED) scheme of NYSC in providing interventions and support to budding entrepreneurs with promising ventures through the business grants to help turn these ideas into reality. We recognize the importance of investing in our youths and empowering them to drive positive change within our economy.”
Also speaking at the grand finale held in Delta State NYSC Orientation Camp, head of SME Banking, Unity Bank, Dr. Opeyemi Ojesina expressed delight at the Unity Bank Corpreneurship Challenge’s growing profile as a leading business incubation platform and catalyst for entrepreneurship development in Nigeria.
He said: “Over the past five years, Unity Bank has steadfastly supported the Corpreneurship Challenge, witnessing its profound impact on youth empowerment and job creation nationwide. The programme has earned a reputation for its innovative approach, seamlessly integrating financial backing, mentorship, and skill development to nurture aspiring entrepreneurs.”
Ojesina further underscored the invaluable mentorship offered to participants, connecting them with seasoned professionals who provide crucial insights, guidance, and a roadmap for success. He emphasised Unity Bank’s belief that true empowerment extends beyond financial aid to the cultivation of entrepreneurial acumen.
Launched in 2019 with pilots in 4 states – Lagos, Edo, Ogun, and Abuja and scaled to 10 States in 2020, the Corpreneurship Challenge initiative is promoted in partnership with the NYSC Skills Acquisition and Entrepreneurship Development, SAED.
The initiative features a business pitch presentation where participants have the opportunity to present their business plans and stand a chance to win business grants.
