On Monday, 7th March 2016 Enterprise Challenge 2016 held its Final Board Interview. The event held between 0900hrs – 1600hrs at Asia-Africa meeting rooms, Eko Hotel, Ademola Adetokunbo, Victoria Island, Lagos.  The interview was moderated by a panel of six judges who hold top positions in different companies.

Members of the Panel are Adetomi Soyinka, Director Education & Skills, British Council Justin Bell, Airport Manager, Virgin Atlantic Airways Antoinia Norman, CEO, Branson Centre of Entrepreneurship Abosede George-Ogan, Corporate Citizenship Manager, Samsung Electronics West Africa Richard Tanksley, Head, Pulse NigeriaJimi Ogunnusi, Managing Director BQM Consulting, Business Mentor (Princes Trust)

The panel interviewed the 20 participants who made it through to the Enterprise Challenge Boot Camp.  Each participant pitched their business idea/solution to the board in ten minutes. The panel of judges asked questions for five minutes.  Each candidate was judged based on the following: structure, level of creativity, sustainability of business idea/solutions and market appeal.

The 20 participants are

1. Ike-Onu Nkechinyere Sophia

2. Anifowose Hassan Taye

3. Swithin-Nwuba Kaetochi

4. Keturah Oghenerukome Ovio-Onoweya

5. Obasanya Titilayo Olutobi

6. Adeyanju Toluwanimi Olabisi

7. Omokhegbele Elvis Aiseosa

8. Sillas Okwoche

9. Ogunwale Olusegun Emmanuel

10. Aderonke Aderinoye Abosede

11. Okeke Chiakodi Vera

12. Afere Alaba Lawrence

13. Odeyemi Lolade Yetunde

14. Kolade Habeebullah Opeyemi

15. Olanrewaju Scholastica Chinelo

16. Adiuku-Brown Obioha Ngozichuckwu

17. Ogar Joseph Utsu James

18. Adeyemi Oyenubi

19. Adaeze Nnamani

20. Wobu Nnodim Eliot

PROJECT OVERVIEW 

The Format Keeping in line with the environmental context and the new government’s strategy to drive change within all sectors, this programme proposes to identify a new ‘breed’ of home-grown entrepreneurs. These individuals, will act as change agents and through their work support the policies and strategies for economic diversification as well as drive the needed change and development within the Nigerian business environment.

Participants were asked to examine the less-active sectors of the Nigerian economy which will potentially attract government investment over the next four years (e.g. Agriculture, Creative Industries, non extractive industries / mining etc.) Participants are expected to pitch ideas for services or products within these sectors.

Target Audience: Young Nigerians domiciled in Nigeria aged 18–35

Competition Timeline:

Task 1 -The Essay: What’s your Pitch?  This was the essay question: ''As part of its strategy to foster economic growth, the Nigerian government has revealed its ambition to diversify its income streams by focusing on the development of the less active sectors of the economy. Areas of priority are manufacturing, trade, agriculture, non-extractive industries, creative industries, mining etc. If you have an idea, product, plan or already existing solution that can transform and accelerate growth in these areas we would love to hear from you. Send us your pitch in 450 words or less demonstrating how your idea or existing business / solution impacts on economic growth and results in job creation.''

Task 2 - The Video Pitch88 applicants with the most inspiring essays were asked to pitch their ideas for a product or service (either already existing, in the process of development) which fits in the theme already outlined above. To promote sustainability, the product or business will be based on the business and developmental needs in their various local environments. Each individual was required to upload their videos onto the YouTube page for consideration.

Boot Camp

This year the programme has been redesigned to ensure greater impact and benefit for a wider audience. The capacity building aspect of the programme is being run locally by an external delivery partner - Branson Centre of Entrepreneurship and managed by British Council. The objective behind this is to ensure that a wider pool of people have access to the capacity building sessions in comparison to the first cycle when just the two winners did.

The top 20 programme applicants from the video pitch are currently attended the 3-day boot camp in Lagos Nigeria. The training has been designed as a 3 day boot camp which will focus on the foundational/ basic aspects of entrepreneurship / business management.   Although the delivery partner - Branson Centre of Entrepreneurship, provided an international perspective and knowledge, the British Council provided access to some local entrepreneurs who shared their experiences in line with local context and operating in the local environment.

Task 3- Pitch to the Judges

The 20 applicants faced the panel of judges to pitch their ideas real time.

PRIZES  

The top 2 individuals will win the opportunity to meet with Sir Richard Branson at the Virgin Headquarters on a date to be confirmed by Virgin Atlantic. Further information about the proposed prizes can be found below.

First Prize:

  • Business grant worth 2 million naira.
  • An opportunity to meet with chairman of the Virgin group, Sir Richard Branson (inclusive of flights and accommodation).
  • Two return premium economy tickets to the UK.  
  • Opportunity to meet with entrepreneurs with similar interests and business within the UK.
  • Attend a 5 day entrepreneurship foundation course at the Branson Centre of Entrepreneurship in South Africa.
  • Access to high level mentors within the Nigerian business environment for a 3 month period post competition    

Second Prize:

  • Business grant worth 1 million naira.
  • A development trip to Samsung City -Samsung Headquarters in South Korea (inclusive of flights and accommodation).
  • Two 2 return economy tickets to the UK.  
  • Access to high level mentors within the Nigerian business environment  

The winners will be announced today, March 8, 2016.

The event is sponsored by Zenith Bank, British Council, Virgin Atlantic and Samsung.