ABOUT EEC 2020ABOUT EKITI ENTERPRISE CHALLENGE 2020
Ekiti Enterprise Challenge (EEC 2020) is a Social Impact Driven Community based enterprise Pitch competition designed to be an annual event for Brilliant Creative, Gifted, Talented and innovative entrepreneurs who resides and are established in Ekiti Communities with business ideas which have potential to create decent work and sustainable jobs, grow exponentially and scale beyond Ekiti local Market to a National and Global Market.
The vision and impact deliverable of Ekiti Enterprise Challenge is to identify, discover, support and mentor creative and innovative young Ekiti entrepreneurs with business ideas that have potential to grow exponentially beyond Ekiti Local Market and scale up their market reach. The Ekiti Enterprise Challenge planned to hold during the UN Global Entrepreneurship Week between November 16 – 22, 2020.
The winning enterprise will receive a Grant Prize of One Million Naira (N1, 000,000) while 3 runner ups will awarded consolation Prizes of Five Hundred Thousand Naira (N500,000), Three Hundred Thousand Naira (N300,000) and Two Hundred Thousand Naira (N200,000) respectively.
ABOUTHOW WILL EEC 2020 HOLD?
Call for application for Ekiti Enterprise Challenge 2020 will commence on 1st of September 2020 and Close on 30th September 2020. In October 2020 after the close of applications, a team of independent business development consultants will review the applications and shortlist successful young entrepreneurs that will be invited to attend a 5 Days Enterprise Development Bootcamp, where they will be groomed and prepared for the final stage which will be assessed by a panel of Judges who will select the winners for the Ekiti Enterprise Challenge 2020.
OUR DRIVEWHY EKITI ENTERPRISE CHALLENGE?
Ekiti Enterprise Challenge is part of our commitment in giving back to the society by investing in young entrepreneur. It is our expectation that Ekiti Enterprise Challenge will help in restoring Ekiti Values by raising the next generation of Ekiti young entrepreneur who will make Ekiti Great again by establishing sustainable businesses that have potential to create decent jobs and economic growth which are inline with The United Nations Sustainable Development Goals 1, 8, 9,11 & 17
ApplyWho Can Apply
1. Business Established & Resident in Ekiti State
Intending participants must have business established and resident in any of the communities in Ekiti State
2. Applicant Between 18-35 Years Age Bracket
EEC is open to Young Entrepreneurs residents in Ekiti State who fall within the 18 to 35 year age bracket
3. Business Must Have passed through ideation stage
Business idea passed through ideation stage, be at least 12 months old, and already generating revenue
4. Business Have Potential For Exponential Growth
Must have innovative product & services with sustainable business model that has potential to grow exponentially and scale beyond local market to national & global market
5. Business registered with CAC & have corporate bank account
Business Must have been registered with CAC must have a corporate bank account with a corporate Governance Structure
Clarity Business Model with Leadership Capacity To Deliver
Clarity Business Model with Leadership Capacity to deliver the proposed business value proposition
CategoriesCategories For Application
Below are Categories of Business For Applications We Are Looking For
- Innovation Technology
- Agriculture & Food Processing
- Fashion Designing
- Tourism, & Hospitality
- Art & Crafts
- Shoes and Leather Works Production
- Furniture & Upholstery
- Interior Designs & Decorations
- Confectionaries & Event Management
- Entertainment & Music Productions
- Green Enterprises, Waste Management & Recycling
In October 2020 Submitted application will be reviewed and background check will be conducted by a board of Screening Committee to select the 50 best application that will be invited to a 5 Days Enterprise Development & Mentorship Program where they will be groomed and prepared for the Final stage of the Pitch Competition
After the review of applications, 20 young entrepreneurs with scalable and sustainable business model with potential for exponential growth will be invited to a 5 Days Enterprise Development & Mentorship Bootcamp where they will connect with business coaches and social enterprise development consultants who will groom and prepare them for the Final stage of the Enterprise Pitch Challenge.
After the Judges have selected the winners, Prizes and Awards will be presented to the finalists in the follow Categories: First Place Winner – N1,000,000 + 1 Year Business Support/Growth Opportunities Second Place (5) Winners of N250,000 each + 1 Year Business Support/Growth Opportunities
For Further Enquiry
Suite 7, Adedoyin Plaza C/O iWorks Hub, Ado Ekiti, Ekiti State