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Akinmade said the winners emerged during the final business pitch in the fourth edition of the contest for NYSC 2020 Batch B corps members, which took place simultaneously across four NYSC camps in Lagos, Ogun, Benin, and Abuja.
He said that the cash prizes included a N200,000 business grant for each of the second runner up, N300,000 business grant for the first runner ups and a star prize of N500,000 for each of the four winners.
The official, during the finale, said the competition was to encourage more youths with clear entrepreneurial intentions to expand or start profitable ventures.
“The grants are not a loan and we want the money to be directed towards profitable ventures. First, you must learn that making mistakes is part of business.
In Lagos, Moses Bolanle, Iran-Ola Oluwosulu and Zainab Muhammed emerged winners to claim the cash prizes.
The initiative attracted massive interest among the corps members, as over 300 applications were received but only forty were shortlisted for the pitching session from where the twelve winners emerged.
The contestants’ business plans which ranged from fish production, poultry farming, fashion, piggery to beverages were assessed on originality, marketability, future employability potential of the product and knowledge of the business. Recall that Unity Bank debuted the Entrepreneurial Development Initiative in 2019, to specifically target corps members, as part of efforts to contribute to job creation in Nigeria.
A Zobo beverage processing plant business plan by
Ejidike
Vitalis, a Pharmacy graduate from Nnamdi Azikiwe University, Awka emerged the best plan, winning the N500,000 grant.
Other winners include a fish farm business plan by
Aromire Yusuf which clinched the N300,000 business grant, while Sanusi Adeola’s Garri Processing plant business plan won the third place to take home N200,000 business grant.
A total of seven youth corps members pitched their business plan in agribusiness, fashion design, baking and confectionaries, etc.
The contestants’ business plans were assessed on originality, marketability, future employability potential of the product and knowledge of the business.