Monday, 9 November 2015

Win 100,000 in The Ignite2 Business Ideas Contest for Nigerians

TYPE OF CONTEST: Business Idea Contest
BRIEF DESCRIPTION: With over 200 businesses funded in our first batch: IGNITE1, we are seeking to enroll in the second batch of entrepreneurs who will make up the cohort of IGNITE2.
The Ignite Ideas Contest is an initiative spearheaded by AGDC, with implementing support from Generation Enterprise, sponsorship from The Chair Center and the Lagos State Government, and collaboration from partners such as Digital Jewels and First Bank.
The contest aims to identify, incubate and fund 1,100 viable business concepts in Lagos State.
Each of the One Thousand one hundred (1,100) winners are eligible N100, 000 (One hundred thousand naira only) as seed capital to progress their business ideas and also benefit from business management mentoring by experts.
The submitted business ideas will go through a screening process by a Screening and Selection Committee carefully selected from varying industries across the nation.


1. Applicants must be of Nigeria nationality between the Age bracket of 18-35. Failure to verify age will result in the application being declined.
2. Applications must articulate a specific business problem to solve or opportunity to address. The ideas must be original, address a clear market gap. Applicants must be clear on the benefits from the prize money and the viability of idea must be established.
3. Employees of The Chair Centre Group, Digital Jewels Limited, AGDC etc and their families are not eligible to apply.

RULES AND REGULATIONS: Full rules and regulations can be found here
PRIZE: Entrepreneurs selected to take part in Ignite are automatically qualified to receive a maximum of N100, 000 interest free loan. The loan has a 3-month moratorium, and must be repaid within a 12-month period (following the 3 month moratorium). Entrepreneurs who perform well and build credit-worthiness during that time may qualify for additional funding and support.


DEADLINE: November 16, 2015

MORE INFORMATION: For more information click here

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