A National Youth Service Corps entrepreneurial challenge sponsored by Unity Bank Plc has awarded cash prizes and business grants worth up to N10 million to 30 participants.
The ‘Corpreneurship’ Challenge competition rewards NYSC members who submit promising business proposals as part of the award conditions.
According to a statement issued by Unity Bank, the winners were selected from the Batch B Orientation Course held in Lagos, Ogun, Benin, Akwa Ibom, Kano, Sokoto, Enugu, Osun, and Kwara states, as well as Abuja.
The release forward states that the financial rewards comprised a ₦200,000 business grant for third-place winners, a ₦300,000 business grant for second-place winners, and a ₦500,000 prize for overall winners.
In collaboration with the NYSC Skills Acquisition and Entrepreneurship Development, the bank announced that it had invested over ₦80 million in the program, which it said had produced 58 winners since it began in 2019.
Mr Olufunwa Akinmade, Divisional Head, Retail, SME Banking, and E-Business Directorate, Unity Bank, said during the conclusion in the FCT NYSC camp that the competition has shown to be terrific instrument for empowering fresh graduates in the country.
He said, the “Corpreneurship” Challenge is a creative entrepreneurial development initiative by Unity Bank in conjunction with the National Youth Service Corps, and it is aimed at driving job creation through entrepreneurship. With rising youth unemployment in the country, it is just common sense to consider the entrepreneurship alternative.
“As the corps members join the labour market after their youth service, not every one of them will get the opportunity for a paid employment. But with what Unity Bank is doing, many of them will get the support they need to start a small business and even become employers of labour”.