Unity Bank has increase the prize money for its Corpreneurship Challenge to N16 million per stream.
According to the bank, this move aims to provide more resources and boost start-up capital for young entrepreneurs in Nigeria.
The winners of the challenge will now receive N800,000, N500,000, and N300,000 for the 1st, 2nd, and 3rd positions respectively.
Launched in 2019, the Corpreneurship Challenge initiative has seen significant growth, with 30 new winners emerging in the latest edition.
These winners showcased innovative business ideas in various sectors such as poultry farming, fashion, and pastries.
The competition took place across 10 NYSC Orientation Camps in different states, with participants presenting their business plans to win business grants.
Unity Bank’s commitment to supporting entrepreneurship development was evident at the recent edition of the challenge, where deserving entrepreneurs like Folorunsho Kolade, Samuel Ayodotun, and Udoji Chibuike Peter emerged as winners.
The bank’s Divisional Head, Adenike Ambimbola, praised the quality of the business plans presented by the Corps Members and reiterated the bank’s dedication to empowering young entrepreneurs.
Dr. Opeyemi Ojesina, Head of SME Banking at Unity Bank, highlighted the impact of the Corpreneurship Challenge in fostering youth empowerment and job creation.
The initiative has received accolades from the NYSC, with Unity Bank being honored with the “Icon of Youth Empowerment” award in 2021.
The program has attracted over 4,000 applicants in each edition, showcasing its growing popularity and success in nurturing aspiring entrepreneurs.
Unity Bank’s investment of over N120 million in the initiative has produced 369 winners since its inception, demonstrating the bank’s commitment to supporting entrepreneurship in Nigeria.
The Corpreneurship Challenge continues to serve as a leading platform for business incubation and mentorship, providing crucial support to budding entrepreneurs and empowering them to drive positive change in the economy.
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