Unity Bank Empowers 400 Fresh Graduates
…Invests Over N100 Million in Corpreneurhip Challenge
By Patience Ikpeme
Unity Bank’s entrepreneurship development initiative, known as the Corpreneurship Challenge, has successfully benefited over 400 fresh graduates in the past five years.
The bank’s commitment to driving economic growth by supporting the next generation of Nigerian entrepreneurs is evident in this initiative.
Launched in 2019 with pilots in four states – Lagos, Edo, Ogun, and Abuja – the Corpreneurship Challenge has since expanded to 10 states in 2020. This initiative is promoted in partnership with the NYSC Skills Acquisition and Entrepreneurship Development (SAED).
Participants, mostly fresh graduates fulfilling their one-year compulsory NYSC service, have the opportunity to present their business plans and compete for business grants in a business pitch presentation.
Recently, Unity Bank increased the prize money to 16 million Naira per stream, allowing winners of the business pitch to receive N800,000, N500,000, and N300,000 for the 1st, 2nd, and 3rd positions respectively. This is a significant increase compared to previous editions, where winners received sums of N500,000, N300,000, and N200,000.
Reflecting on the impact of the initiative, Mr. Olufunwa Akinmade, the Divisional Head of Digital Banking and Fintech Partnerships at Unity Bank, who was instrumental in designing and launching the initiative, stated that the Corpreneurship Challenge has proven to be a successful enterprise development and empowerment initiative. He emphasized its ability to support budding entrepreneurs in the target demographic and address significant economic challenges in Nigeria.
The Corpreneurship Challenge has gained recognition as one of the leading sector-agnostic business incubators in Nigeria. Unity Bank remains committed to continuing the program to create even more significant impact and boost job creation, with young entrepreneurs at the forefront.
Mrs. Adenike Ambimbola, the Divisional Head of Retail and SME Banking, also emphasized the positive impact of the Corpreneurship Challenge over the past five years. She praised its innovative approach to youth empowerment, job creation, mentorship, skills development, and financial support.
Since its launch, the Corpreneurship Challenge has traveled across Nigeria, making stops in 10 states per stream to turn the dreams of fresh graduates and aspiring entrepreneurs into reality. It has played a crucial role in supporting the growth of the SME sector in Nigeria.
The recent edition of the Corpreneurship Challenge was held in 10 states, including Taraba, Kogi, FCT, Lagos, Yobe, Ogun, Ebonyi, Enugu, Adamawa, and Imo State. Thirty winners emerged from these states, further supporting entrepreneurship and economic growth in Nigeria.
