ABOUT COMPETITION
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.
This singular contest will ensure that brilliant business ideas do not die due to lack of funds.
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.
What we look for: Talented, creative and dedicated young people who have a business or an idea that they believe can become a successful and scalable company.
What’s the deal?
Accepted participants will gain access to seed funding of up to N100, 000, as well as skilled expertise to help them with their business strategy and growth. Qualified applicants with high potential businesses will be selected to enroll in the 3-month incubator program which will include additional training, mentorship and exposure.
FUNDING: Entrepreneurs selected to take part in Ignite are automatically qualified to receive a maximum of N100, 000 interest free loan.
TRAINING: All selected applicants are required to attend a 1 day business bootcamp to refine their business strategy
INCUBATION: Select entrepreneurs may qualify to take part in the 3-month business incubation program (please note that acceptance into Ignite Ideas is not an automatic acceptance into the incubator program). The incubation program includes additional training and business advisory for businesses that have potential to scale and create jobs.
COMMUNITY: All selected participants automatically become part of a community of change-makers, pioneers, explorers, problem-solvers and venture builders. To ensure the experience is enriching for all participants, we carefully select the right type of people to join this network. Within the network, we facilitate information sharing, resource sharing, peer feedback, and continuous exchange.
Interested entrepreneurs should visit igniteideas.org
We are currently accepting applications for IGNITE2, our second cohort for this program. Applications for this cohort close on NOV 23th 2015.
Entries must be submitted online within the specified timeframe and conform to specified guidelines and terms and conditions of participation clearly outlined on this website.
All entries will be reviewed by the Panel of Judges who consist of carefully selected accomplished professionals from all walks of life.
- Applicants must be of Nigerian nationality
- Applicants must be between the ages of 18 – 35. Failure to verify age will result in the application being declined.
- 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.
- Employees of The Chair Centre Group, Digital Jewels Limited, AGDC etc and their families are not eligible to apply.
- The Judges’ decisions are final.
Overview
| Program dates | Jan 1, 2015 - Sep 30, 2016 |
| Organizer | Ignite Ideas |
| Website | Visit website |
| Targets | Nigeria |
| Sectors |
Retail and wholesale, Agribusiness, Automotive, Banking, Clean technology, Computer hardware, Computer software, Construction, Creative, media and entertainment, Diversified services, E-commerce, EdTech, Education, Electronics, Financial services, Food and beverage, Healthcare, HealthTech, Insurance, Internet, Leisure and travel, Manufacturing, Mobile, Real estate, Renewable energy, Telecom, Transport and logistics, Utilities, Waste management and recycling, Water, sanitation and hygiene
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