N8M Naira Grants for Entrepreneurs: In our current day today, it’s not an easy thing to secure funds for a start-up. Across Nigeria, not more than 10 young entrepreneurs have gotten the N8 million grants at the CrossPoint Innovate Pitch & Grant Conference in order to boost their businesses.
Moreover, the grant initiative was sourced from CrossPoint’s innovation, which is a training, mentor, and empowerment platform for young entrepreneurs.
This initiative had about 1,000 entries for the pitch competition, and on this 10 businesses were chosen to pitch for grants in order to support the growth of their business.
During the event, the convener of the initiative & the lead pastor in charge of the CrossPoint church – Ladipo Soyombo, said that the grant process came on due to his concern for young entrepreneurs who are currently struggling through the global pandemic in search of an opportunity to live in a normal condition.
N8M Naira Grants for Entrepreneurs – According to Ladipo Soyombo, he mentioned –
Since the COVID-19 pandemic and the social unrest that came in the aftermath of the EndSars, we saw that millions of our young people are eager to express themselves and be productive members of society, but the opportunities in Nigeria are few. We decided to engage with people to discover what to do and then embarked on training to help unleash people’s potential
Ladipo Soyombo said that the sum of N8 Million is to be given to the 10 entrepreneurs including the first three who pitched an outstanding idea on how to get more funds & grow their businesses.
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N8M Naira Grants for Entrepreneurs – Winners of the CrossPoint Innovative Grant
N8M Naira Grants for Entrepreneurs: After different types of pitches among the top 10 competitors, the Emergency Station by Elcutiee, Maximum Recycling, and Keramel Naturals, came out as First, Second, and Third place respectively during the CrossPoint innovative grant.
The First place got a grant of N2 million.
The Second place got a grant of N1.5 million.
Also, Third Place got a grant of N1 million.
Meanwhile, the remaining seven received grants of N500,000 each & equally. The keynote speaker Babatunde Fajemirokun stated that Nigeria is at a crossroads via a high misery index, which is quite high.
All these comprise the combination of a high unemployment rate, inflating, poverty rate, and people leaving the country in their numbers on a daily basis.
Also, he mentioned that the disorganized system, which was caused by the recent pandemic made reconsider the economics of business models to be as economic crisis, government policies, and a change in consumer taste & appetite that occurs normally and can lead to an operating environment, which will seem more volatile.
He realized that the main goal of starting up a business is to solve the problems of customers in a condition that it generates profits, and provides an ROI from the business start-up.
Babatunde Fajemirokun also stated that the best leaders are meant to create an environment where ideas & opinions can be discussed with ease, including assumptions that are challenged with capital offered efficiently.
Then, he instructed the entrepreneurs to use their grants in a manner that can possibly grow their business, and reach the extent of being among the best businesses globally.
Conclusion – FAQs based on the N8 Million Grants for Entrepreneurs
Who is the Lead Pastor of the CrossPoint Church?
During the event, the convener of the initiative & the lead pastor in charge of the CrossPoint church – Ladipo Soyombo
What were Ladipo Soyombo’s statements?
During the event, the convener of the initiative & the lead pastor in charge of the CrossPoint church – Ladipo Soyombo, said that the grant process came on due to his concern for young entrepreneurs who are currently struggling through the global pandemic in search of an opportunity to live in a normal condition.