Aspiring entrepreneurs have until January 30 to apply for Youth Enterprise with Innovation in Nigeria (YouWiN!), a government-sponsored programme that provides grants and support to young companies.
YouWiN! is now in its fourth year and is organised through collaboration between the Ministry of Finance, the Ministry of Communication Technology, the Ministry of Youth Development and the Ministry of Women Affairs and Social Development.
The annual business plan competition has thus far handed out between NGN1 million (US$5,200) and NGN10 million (US$52,000) to more than 2,700 startups.
Its organisers say the competition is in line with the government’s drive to create more jobs for Nigerians, and will be implemented in partnership with the private sector.
“The main objective of the YouWiN! programme is to generate jobs by encouraging and supporting aspiring entrepreneurial youth in Nigeria to develop and execute business ideas that will lead to job creation,” YouWiN! said.
“The programme will provide aspiring youth with a platform to showcase their business acumen, skills and aspirations to business leaders, investors and mentors in Nigeria.”
This year, YouWiN! plans to provide a one-time equity grant to 1,200 entrepreneurs, to allow them to start or expand their business concepts and mitigate startup risks.
These grants, it is hoped, will help generate between 80,000 and 110,000 new jobs for currently unemployed Nigerian youth over the three years.
Interested parties must apply online, while YouWiN! has also established a number of business clinics to provide applicants with assistance during the process and training on writing business plans. Details of locations can be found here.
