The Ugwumba Center for Leadership Development in Africa has launched the 2024 TETFUND Enterprise Challenge, a significant competition aimed at empowering young entrepreneurs in Nigeria. This initiative offers a unique opportunity for young Nigerians to transform their innovative ideas, skills, and passions into successful business ventures or social enterprises. With a total prize pool of N10 million, the competition awards substantial financial support, ranging from N2 million for the first-place winner to N100,000 for the top finalists.
Purpose of the TETFUND Enterprise Challenge
The TETFUND Enterprise Challenge is crafted to inspire creativity and resilience among Nigeria’s young entrepreneurs. It challenges participants to develop sustainable business models capable of thriving in the competitive market. All applicants undergo a rigorous selection process, which includes a compulsory boot camp. Here, they receive essential training and support to refine their business ideas. The most promising concepts will then move on to the pitching competitions, where they stand a chance to secure both financial backing and technical assistance from the Ugwumba Center.
Eligibility Criteria
To participate in the challenge, applicants must:
- Be Nigerian citizens between the ages of 18 and 40.
- Have a business idea with the potential to grow into a successful venture or social enterprise.
- Open to all sectors, encouraging diverse and innovative entries.
Competition Timeline
- Call for Applications: August 16 – September 16, 2024
- Boot Camp Admission: September 18, 2024
- UEC 2024 Open Day: September 20, 2024
- Boot Camp: September 23 – October 18, 2024
- First Preliminary Pitching Competition: October 21 – 30, 2024
- Top 20 Startups Announcement: November 04, 2024
- Second Preliminary Pitching Competition: November 06 – 20, 2024
- Top 10 Finalists Announcement: November 26, 2024
- Grand Finale in Abuja: December 03, 2024
How to Apply
Interested candidates must submit their applications by September 16, 2024. The application process is simple and can be completed online by visiting the Ugwumba Center for Leadership Development in Africa website.
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