The Ekiti Enterprise Challenge is a competition organized to encourage the entrepreneurial drive of businesspeople in Ekiti State. Entrepreneurs with ideas that can generate significant revenues, lead to the employment of many people, and scale beyond the state are invited to apply.
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Selected participants will pitch their idea at the challenge pitch event which will take place during the UN Global Entrepreneurship Week, from November 16-22.
The entrepreneur with the winning idea will receive ₦1 million in prize money. The three runners up will get ₦500,000, ₦300,000, and ₦200,000 respectively.
Intending participants can apply for this competition if they meet these conditions:
- Resident in Ekiti and have a business that is established and operational in the state.
- Must be between 18 and 35 years old.
- The business must have passed through the ideation stage, must be at least 12 months old, and already generating revenue.
- The business should have a clear, sustainable growth model and must have a potential for exponential growth.
- Registered with the CAC and possess a corporate bank account.
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Businesses in a wide range of sectors are invited to apply: technology, agriculture, fashion, tourism, art and craft, leatherwork (including shoe production), furniture, interior design, music and entertainment, waste management, and recycling.
- Apply for the competition on the official portal. This will be open until September 30.
- The organizers will review entries and select the 50 best applications.
- Each of the selected applicants will receive an invitation to a five-day Enterprise Development Bootcamp, where they will be prepared for the pitch competition.
- The Bootcamp will take place in October. Business coaches and social enterprise development consultants will train participating businesses and prepare them for the final pitch.
- The pitch will take place in November, featuring twenty finalists. A panel of judges will screen the ideas presented and select the winners.
- Winners will receive their prizes and get a year’s worth of business support.
The deadline for entering this competition is Wednesday, September 30.
If you would like to apply for the Ekiti Enterprise Challenge 2020, click here.
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