Unity Bank’s ‘Corpreneurship’ boosts startups

In its quest to support the federal government job creation initiative, the Unity Bank Plc through its flagship programme, the ‘Corpreneurship’ competition has hinted of plans to extend the opportunity to prospective participants across the country.

Making this pledge recently was the Group Head, Retail and SME Banking, Unity Bank Plc, Mr. Olufunwa Akinmade.

He spoke at the grand finale of the challenge for the National Youth Service Corps (NYSC) 2020 Batch B, Stream 1B corp members in Lagos.

Speaking at the grand finale of the challenge for the NYSC 2020 Batch B, Stream 1B corp members in Lagos, the Group Head, Retail and SME Banking, Unity Bank Plc, Mr. Olufunwa Akinmade, said the competition was to encourage more youths with clear intentions to expand or start profitable ventures.

“Corpreneurship is what we started last year; we started last year with season one. We launched it in Lagos and in three other states which include Edo, Ogun, and Abuja. So, today we are in four locations as we speak right now. It has been one year we have been running this and it has been hugely successful.”

On expectations from the winners, Akinmade said: “Our expectations are two folds; that they manage the money well such that at the end of the year in addition to the N500,000, N300,000, N200,000 that they won today, they will double it. “Second, we want people, who at the end of the year, can become employers of labour. This is our first steps towards reducing unemployment in the market. It is a small step but a big one and so we expect them to be able to say I have two, three people working with me,” he said.

A total of seven youth corps members pitched their business plan in agribusiness, fashion design, baking and confectionaries, etc. The contestants’ business plans were assessed on originality, marketability, future employability potential of the product and knowledge of the business.

In choosing the winners the bank considered the originality, marketability, future employability potential of the product and knowledge of the business of the contestants and announced three NYSC members as winners.

A Zobo beverage processing plant business plan by Ejidike Vitalis, a Pharmacy graduate from Nnamdi Azikiwe University, Awka emerged the best plan, winning the N500,000 grant.

Other winners include a fish farm business plan by Aromire Yusuf which clinched the N300,000 business grant, while Sanusi Adeola’s Garri Processing plant business plan won the third place to take home N200,000 business grant.