Union Bank of Nigeria has reaffirmed its commitment to nurturing local enterprise through its Made in Naija initiative, with a recent sponsorship of the RISE Business Challenge at the University of Lagos, Akoka. The competition was held as part of the 6th Annual Youth Leadership Conference, a platform designed to inspire and empower young Nigerians.
Dubbed Turning Point 6.0, the Resilience, Innovation, Social Responsibility, and Entrepreneurship (RISE) Challenge is a collaboration between Union Bank and the conference convener, Mr Olusegun Odufuwa, to empower youth-led businesses with financial and mentorship support through a pitch competition.
The bank noted that the event targets at uplifting young men and women with requisite entrepreneurial skills, the event aligns with one of the Bank’s primary objectives of encouraging Made in Naija and the next generation of Nigerian innovators and business leaders, culminating in positive social impact and sustainable economic growth.
The competition also aims to identify and reward outstanding business ideas demonstrating viability, sustainability, and social impact. This year’s RISE Challenge winners were chosen after a rigorous selection process involving participants sending their proposals for a team of judges and business experts to assess. The final four selected competitors then pitched their ideas individually to a panel of judges, who chose the winners based on innovation, social impact, sustainability, and financial viability.
The first, second and third places received cash prizes of N1,000,000, N750,000, and N250,000, respectively. During the event, Head SME of Union Bank of Nigeria, Ayokunumi Abraham, said: “Union Bank is passionate about supporting Made in Naija and youth-led businesses to scale for sustainable growth.”
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