President Goodluck Ebele Jonathan today launched Youth Enterprise with Innovation in Nigeria (You WiN!) competition, an initiative organized jointly by Federal Ministries of Finance, Youth Development and ICT at the Banquet Hall, Aso Villa, Abuja.
According to the organizers, the goal of the competition is to generate jobs by encouraging and supporting young entrepreneurs to develop business ideas that will lead to job creation.
YOUWiN will serve as a springboard for youth entrepreneurs to showcase their business acumen, skills and aspirations to business leaders, investors and mentors in Nigeria.
Objectives of the Programme include to:
- Attract ideas and innovations from young entrepreneurial aspirants from Universities, Polytechnics, Technical colleges, and other post-Secondary institutions in Nigeria;
- Provide a one time Equity grant for 1,200 selected aspiring entrepreneurs to start or expand their business concepts and mitigate start up risks;
- Generate 40,000 to 50,000 new jobs for currently unemployed Nigerian youth over the three years during which the three cycles will be implemented;
- Provide business training for up to 6,000 aspiring youth entrepreneurs spread across all geo-political zones in Nigeria;
- Encourage expansion, specialization and spin-offs of existing businesses in Nigeria; and,
- Enable young entrepreneurs to access a wide business professional network and improve their visibility.
Qualification for Participation in YouWiN!
All applicants for the Business Plan Competition must meet following criteria:
- The applicant is a proven citizen of Nigeria, no older than 35 years (proof of identity international passport/voters card)
- The applicant is proposing a business venture within the national borders of Nigeria, and with the intention of employing Nigerian citizens.
- The proposed venture does not entail the production and distribution of weapons, alcoholic beverages, tobacco or/and gambling, or any activities that is in contradiction with the Nigerian constitution
- Applicants have prepared an innovative business concept summary
- The promoter should be willing to make an equity contribution in kind, but does not need to have long experience in managing a business.
For more information on how to get involved, please visit www.youwin.org.ng