There is no doubt, that entrepreneurship is a pivotal driver of employment, income growth, and capacity development, especially in today’s global economy. Recognizing this, the Biodun and Ibikunle Foundation has launched its 2024 SEEDINVEST Acceleration Programme, aimed at fostering an entrepreneurial revolution in Nigeria and across Africa.
The SEEDINVEST Acceleration Programme is designed to empower micro and small businesses through a combination of asset grants, entrepreneurial training, and advisory services. This initiative seeks to address the business sustainability challenge in Nigeria, where many enterprises struggle to transcend generations.
Why SEEDINVEST Matters:
The SEEDINVEST Acceleration Programme addresses critical gaps in Nigeria’s entrepreneurial ecosystem:
- Sustainability: By providing both financial and educational support, it aims to create businesses that can thrive beyond the first generation.
- Skill Development: The intensive training component equips entrepreneurs with essential skills for long-term success.
- Economic Growth: Supporting small businesses contributes directly to job creation and economic diversification.
- Innovation Boost: The program encourages innovative thinking and problem-solving among Nigerian entrepreneurs.
- Network Building: Participants gain access to a valuable network of mentors, advisors, and fellow entrepreneurs.
Key Benefits
- Intensive Training: Participants will engage in a two-month acceleration program, gaining crucial business management skills.
- Financial Support: The opportunity to win a One Million Naira (N1,000,000) asset grant for business growth and development.
- Long-term Impact: By supporting individual businesses, the programme aims to contribute to poverty eradication, job creation, and improved overall well-being in Nigerian communities.
Eligibility Requirements
To qualify for the SEEDINVEST Acceleration Programme, applicants must meet the following criteria:
- Business Registration: Must be registered with the Corporate Affairs Commission.
- Operational History: A minimum of six months in operation.
- Future Planning: Possess a 5-year business plan.
- Banking: Maintain a business account with any Nigerian commercial bank.
- Tax Compliance: Have a valid Tax Identification Number (TIN).
- Regulatory Compliance: Provide product certification from relevant bodies where applicable.
- Verifiable Address: Business location must be easily verifiable.
Application Process
Interested and eligible entrepreneurs can apply through the Biodun and Ibikunle Foundation website at https://biodunandibikunle.org/application-form/ to complete the application form
The application form requires detailed information, including:
- Confirmation of a business bank account.
- Upload of current year’s bank statement (6 months).
- Submission of a 5-year business plan.
- Explanation of reasons for applying and expected benefits.
- Specification of equipment needed if selected as a beneficiary.
- Current and projected revenue figures.
- Current staff count.
- Social media handles.
- Consent for the use of pictures/videos on the foundation’s media channels.
For more details, visit Biodun and Ibikunle Foundation website at https://biodunandibikunle.org/seedinvest/
Application Deadline
Interested entrepreneurs have until July 21, 2024, to submit their applications.
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