THIS information was disclosed by the CBN in a report, titled ‘Guidelines for the Implementation of Tertiary Institutions Entrepreneurship Scheme’, which was released on Wednesday, October 20, 2021.
According to the bank, “the Scheme is designed to create a paradigm shift among undergraduates and graduates from the pursuit of white-collar jobs to a culture of entrepreneurship development for economic development and job creation.
“Five top Nigerian polytechnics and universities with the best entrepreneurial pitches/ideas shall be awarded as follows: first place – #150m; second place – #120m; third place – #100m; fourth place – #80m; and fifth place – #50m.”
CBN reiterated that activities to be covered under the scheme would include innovative start-ups and existing businesses owned by graduates of Nigerian polytechnics and universities in areas such as agribusiness, information technology, creative industry, as well as science and technology.
The agribusiness would include production, processing, storage and logistics of agricultural products, while information technology would include application/software development, business process outsourcing, robotics and data management.
It said the creative industry would include entertainment, artwork, publishing, culinary/event management, fashion, photography, beauty/cosmetics; while science and technology would include medical innovation, robotics, ticketing systems, traffic systems, renewable energy, and waste management.
Criteria for participation are as follows;
Applicants under the scheme shall be graduates of Nigerian polytechnics and universities with:
i. First-degree certificate (BSc/HND/ or its equivalent);
ii. National Youth Service Certificate (NYSC) discharge or exemption
certificate;
III. Certificate of Participation issued by polytechnics and universities
evidencing entrepreneurship training; and
IV. Not more than 7 years post-NYSC.
It noted that priority would be given to innovative entrepreneurial activities with high potential for export, job creation and transformational impact.
