As part of efforts to contribute to the growth of entrepreneurship and boost job creation in Nigeria, Unity Bank Plc has announced the third edition of its Entrepreneurship Development Initiative, also known as Corpreneurship Challenge for the National Youth Service Corps, NYSC 2020 Batch B, Stream 1B corps members.
Unity Bank Corpreneurship Challenge features a mentorship programme in which participating Corps members engage in developing business plans to make a sales pitch that could earn them matching grants. It is thus a challenge that presents an invaluable opportunity for corps members with outstanding business ideas to receive 12-million-naira worth of grant to pursue their ideas.
In a statement, the retail lender stated that the pilot scheme is currently being held in 4 states which include Lagos, Edo, Ogun and the FCT, while efforts are on top gear to even expand the entrepreneurship initiative to 10 more locations in the second phase.
To ensure the success of the scheme, Unity Bank, in collaboration with Skill Acquisition Entrepreneur Development (SAED) of the NYSC has embarked on sensitisation of the corps members deployed to the selected states at their various orientation camps to facilitate participation in the Corpreneurship Challenge.
Commenting on the initiative, Divisional Head, Retail, SME & E-Business, Mr. Olufunwa Akinmade said: “The Corpreneurship challenge was launched in 2019 as a value addition to the youth market. Over the period, twenty-four serving corps members have benefited from the programme and have been empowered through funding ranging between 200,000 to 500,000 Naira in grant to start and grow their businesses.
“Through the Corpreneurship Challenge, Unity Bank has set out on a journey to contribute its quota to job creation by empowering young people through financial literacy aimed at creating prosperity.The Unity Bank Corpreneurship Challenge is instituted to promote entrepreneurship development, savings culture, creativity, business acumen and wealth creation.”
He added: “Indeed, the encouraging feedback that has been received from Corps Members that received Business Grant in the 1st and 2nd edition after successful pitch in the Corpreneurship Challenge indicates that the initiative is creating the needed impact in society.
“Our value proposition is to therefore reach out and equip more corps members by improving the quality of the mentoring programme in the corpreneurship challenge and in the process, build increased capacity amongst the Youths who will become a catalyst to Nigeria’s economic development.”