No fewer than 30 members of the National Youth Service Corps (NYSC) would be rewarded after Unity Bank Plc increased the prize money for winners of its flagship Entrepreneurship Development Initiative, otherwise known as Corpreneurship Challenge, to N16 million per stream.
Consequently, participants who emerge winners in the business pitch will henceforth win N800,000, N500,000, and N300,000 business grants for the first, second, and third 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.
Launched in 2019 with pilots in three states – Lagos, Edo, and Ogun – and the Federal Capital Territory, 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.
Unity Bank, in a statement on Thursday, March 7, 2024, said at the recently concluded edition of the Corpreneurship Challenge for 2024 NYSC Batch A, Stream 1 NYSC, 30 winners emerged, including upcoming entrepreneurs developing innovative solutions in several business value chains such as poultry farming, fashion, and pastries, among others.
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The bank noted that the winners emerged after participating in the business pitch across the 10 NYSC orientation camps in Rivers, Delta, Anambra, Abia, Oyo, Ogun, Kebbi, Niger, Sokoto, and Zamfara states.
Speaking at the NYSC orientation camp in Rivers State, the Divisional Head of Retail and SME Banking, Unity Bank, Adenike Ambimbola, commended the participating NYSC members for the quality of their business plans and pledged the bank’s commitment to sustaining the entrepreneurship development scheme.
Congratulating the winners, Ambimbola said: “Unity Bank is proud to associate with 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 recognise 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, the Head of SME Banking, Unity Bank, Dr. Opeyemi Ojesina, expressed delight at the bank’s Corpreneurship Challenge’s growing profile as a leading business incubation platform and catalyst for entrepreneurship development in Nigeria.
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