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IGNITE PARTNERS WITH LAGOS STATE TO PROVIDE FUNDS FOR ENTREPRENEURS-APPLY HERE
To help address the issues of funding for the budding entrepreneurs, AGDC, under the IGNITE initiative, partners with The Chair Centre Group and Lagos State Government, to commission the conduct of a crowd sourced contest called IGNITE BUSINESS IDEAS CONTEST aimed at identifying One Thousand One hundred (1,100) innovative and viable business ideas.
Each of the One Thousand one hundred (1,100) winners will receive a sum of N100, 000 (One hundred thousand naira only) as seed capital to progress their business ideas and also benefit from 1 year business management mentoring by some members of the screening & selection committee.
Out of the 1,100 winners, The Chair Centre Group will provide the seed capital for 100 winners while Lagos State Government will provide seed capital for the remaining 1,000 winners.
The submitted business ideas will go through a screening process by a Screening and Selection Committee carefully selected from varying industries across the nation.
This singular contest will ensure that brilliant business ideas do not die due to lack of funds.
By so doing, The Chair Centre Group and Lagos State Government will motivate the budding entrepreneurs, help address needs in the society and make dreams come alive.
Entries must be submitted online within the specified timeframe and conform to specified guidelines and terms and conditions of participation clearly outlined on this website.
All entries will be reviewed by the Panel of Judges who consist of carefully selected accomplished professionals from all walks of life.
Shortlisted entries will be invited for interviews to further review the ideas
At the end of the screening and selection process, One Thousand One Hundred (1,100) best business ideas will receive the sum of 100,000 (One hundred thousand naira only) seed capital. This capital will be routed through First Bank Micro Finance Bank and will be interest free for the 21 month tenure. After the first 3 months, monthly repayments of N5, 000=00 only will be expected for 18 months until the capital is fully repaid.
A good relationship with the Micro Finance Bank will provide a foundation for a long term banking relationship with the Bank and subsequently the parent Bank.
The selected winners (1,100) will also enjoy a one-year business mentorship opportunity from great and successful business men and women in the country
Find out how to apply