Unity Bank Plc, a leading retail lender in Nigeria, has announced an increase in the prize money for winners of its Corpreneurship Challenge, a flagship Entrepreneurship Development Initiative aimed at empowering young entrepreneurs across the country.
The bank has raised the prize money to 16 million Naira per stream, offering substantial financial support to aspiring business owners.
Under the new prize structure, participants who emerge winners in the business pitch will receive increased grants, with the 1st, 2nd, and 3rd positions now awarded N800,000, N500,000, and N300,000 respectively.
This marks a significant boost from previous editions, reflecting Unity Bank’s commitment to fostering entrepreneurship and providing vital resources to innovative startups.
Launched in 2019 in collaboration with the NYSC Skills Acquisition and Entrepreneurship Development (SAED) scheme, the Corpreneurship Challenge has expanded its reach to 10 states, offering a platform for young entrepreneurs to showcase their business plans and compete for grants.
The initiative aims to support emerging entrepreneurs in various sectors, including agriculture, fashion, and food production.
At the recently concluded edition for the 2024 NYSC Batch A, Stream 1, 30 winners emerged from across 10 NYSC Orientation Camps in different states.
Among the winners were entrepreneurs developing innovative solutions in poultry farming, fashion, pastries, and other business value chains.
Speaking at the grand finale held in Rivers State, Mrs. Adenike Ambimbola, Divisional Head of Retail and SME Banking at Unity Bank, commended the participating Corps Members for their outstanding business plans and reaffirmed the bank’s commitment to entrepreneurship development.
Mrs. Ambimbola emphasized the importance of investing in youth empowerment and supporting budding entrepreneurs to drive economic growth.
Dr. Opeyemi Ojesina, Head of SME Banking at Unity Bank, expressed satisfaction with the growing impact of the Corpreneurship Challenge as a leading business incubation platform in Nigeria.
He highlighted the program’s holistic approach, which combines financial backing, mentorship, and skill development to nurture entrepreneurial talent.
Since its inception in 2019, Unity Bank has invested over N120 million in the initiative, supporting 369 winners in realizing their business ideas.
The bank’s dedication to youth empowerment was recognized in 2021 when it received the “Icon of Youth Empowerment” award from the NYSC.
The Corpreneurship Challenge continues to attract interest among corps members, with over 4,000 applicants participating in each edition.
