Unity Bank Empowers 400 Graduates and Invests N100m In The Corpreneurhip Challenge
No less than 400 recent graduates have been beneficiaries of Unity Bank‘s entrepreneurship development program, the Corpreneurship Challenge, in the last five years. This demonstrates the bank’s dedication to fostering economic growth by supporting the upcoming generation of Nigerian entrepreneurs.
Commenced in 2019 with trials in four states – Lagos, Edo, Ogun, and Abuja, and expanded to 10 states in 2020, the Corpreneurship Challenge initiative is endorsed in collaboration with the NYSC Skills Acquisition and Entrepreneurship Development, SAED. The program includes a business pitch competition where participants, predominantly recent graduates engaged in the one-year mandatory NYSC service, have the chance to present their business proposals and compete for business grants.
Recently, the bank raised the prize money to 16 million Naira per cycle, enabling winners of the business pitch to receive N800,000, N500,000, and N300,000 in business grants for the 1st, 2nd, and 3rd positions respectively, in contrast to previous editions where N500,000, N300,000, and N200,000 were awarded to the winners of the Corpreneurship Challenge.
Reflecting on the success of the initiative, Mr. Olufunwa Akinmade, the Divisional Head of Digital Banking and Fintech Partnerships at Unity Bank, highlighted the positive impact of the Corpreneurship Challenge in supporting young entrepreneurs and addressing economic challenges in Nigeria. He emphasized the importance of sustaining the program to further enhance job creation and empower the youth.
Mrs. Adenike Ambimbola, the Divisional Head of Retail and SME Banking, also acknowledged the significant role of the Corpreneurship Challenge in promoting youth empowerment and job creation through mentorship, skills development, and financial support. She emphasized the innovative approach of the initiative in driving positive change over the past five years.
The Corpreneurship Challenge train has traveled extensively across Nigeria since its inception, visiting 10 States per stream to help turn the aspirations of recent graduates and budding entrepreneurs into tangible achievements, thereby contributing to the development of the SME sector in Nigeria.
The most recent installment took place in 10 States, such as Taraba, Kogi, FCT, Lagos, Yobe, Ogun, Ebonyi, Enugu, Adamawa, and Imo State, resulting in the emergence of three winners in each State, totaling 30 winners for this edition.
