FG, Partners Train, Give N9.5m To Start-ups

The Federal Government and two other partners, yesterday, gave out N9.5 million, training and mentorship to 10 smart start-up businesses in the South-East.

The start-ups, within their three-month of incubation and training by Ventures Platform Hub and Genesys Tech-Hub, have received the sum of N250,000 each.

Start-up Nigeria is an intervention of the National Social Investment Programmes (NSIP) meant to support private sector innovation hubs for the strategic increase of entrepreneurial and technological capacity across Nigeria.

It would provide training, mentorship and equity-free funding to selected start-ups in the North Central and South Eastern Nigeria.

At the grand finale, one of the start-up businesses, House of Uwe, that won the demo (demonstration), received the star-prize of N2.5 million and other nine start-up businesses got N500,000 each.

Enugu State Commissioner of Science and Technology, Dr Patrick Ikpenwa, while addressing the start-ups, lauded the Federal Government for its NSIP under the Office of the Vice-President, Prof. Yemi Osinbajo.

Represented by the Permanent Secretary, Mr Charles Maduekwe, the commissioner said, “There is no doubt that through this tech hub, gifted, young and talented undergraduates and early graduates from the South-Eastern region will benefit immensely in the innovation business solutions.”

The Director of Innovation and Entrepreneurship, Ventures Platform Hub, Mr Mimshach Obioha, said various start-up business groups had provided innovative solutions in governance, agriculture, commerce and finance.
The head of the House of Uwe team that won the N2.5 million star-prize for the demo, Mr Eberenna Nwajoku, said he was overwhelmed and surprised to be the winner.

Source: DAILYTRUST