Business Clinic Awards N10m Grant To 8 Entrepreneurs

As part of efforts to support young entrepreneurs, Amplifier Business Clinic 2024 has given a N10 million grant to eight beneficiaries who have reached the grand finale.

The Amplifier Business Clinic, now in its 3rd cohort, has reached an exciting climax, with the graduation of 60 emerging entrepreneurs and eight outstanding participants reaching the finals.

The 2024 edition which commenced on August 17th, was organised in commemoration of International Youth Day (IYD) under the theme, “From Clicks to Progress: Youth Digital Pathways for Sustainable Development.”

It emphasised the vital role of digital innovation in fostering youth entrepreneurship and driving sustainable development.

From a large pool of over 400 applicants, 107 were shortlisted and embarked on the clinic’s journey, starting with an online training phase that covered topics such as Innovation Management, Entrepreneurship DNA, Social Media Strategy, and Business Risk Assessment.

Following the online training, 79 participants advanced to the physical stage, where they engaged in hands-on training on topics like Leadership Development, Business Plan Development, Pricing & Budgeting, Marketing and Sales Fundamentals, Financial Management, and Legal Considerations for Sustainable Business.

The highlight of the clinic was the pitch competition where 29 entrepreneurs presented their business ideas to a panel of judges, culminating in the selection of 8 winners.

The top prize of N2,500,000 was awarded to Maryam Atolagbe, founder of Machoice Ltd, while Eyitayo, founder of Sundry, claimed the second prize of N2,000,000, and Eniola Roberts, Founder of Ennie Wears, secured the third position with N1,500,000. The remaining five winners shared the balance of N4,000,000.

The graduation ceremony, held on August 27, 2024, at Campos Mini Stadium, Igbosere, Lagos Island, saw the presence of dignitaries such as Lagos State governor, Babajide Sanwo-Olu, Honourable Commissioner of Youth and Social Development, Mobolaji Ogunlende, and permanent secretary, Toyin Osanyin-Tolu.

During his speech, Governor Sanwo-Olu underscored the importance of supporting young entrepreneurs, stating, “Our vision is to uplift young entrepreneurs, leaving no one behind, regardless of their background. This initiative is a testament to our commitment to fostering a robust entrepreneurial ecosystem in Lagos.”

The Amplifier Business Clinic, executed by Pelse Consulting, continues to focus on creating sustainable businesses by providing strategic guidance and financial support to entrepreneurs. The Managing Partner of Pelse Consulting, Adeniji Oluwafemi Boboye, remarked, “Our goal is to see these businesses thrive not just locally in Lagos but on a global scale. We are committed to supporting these entrepreneurs at every step of their journey.”

As the program draws to a close, the next phase of the clinic will include a mentorship programme where graduates will be paired with experienced mentors to further sharpen their business strategies and enhance their growth.

The Amplifier Business Clinic stands as a model of how strategic training, mentorship, and financial empowerment can foster innovation, business growth, and sustainable development, positioning Lagos State’s youth at the forefront of entrepreneurship in Nigeria.

The Clinic focuses on leveraging digital pathways for business growth aligns perfectly with the International Youth Day theme, ensuring that young entrepreneurs are prepared to navigate and succeed in the evolving digital landscape.