Africa’s most agile company, Sterling Bank Plc has partnered with the Nigerian Economic Summit Group (NESG), Venture Capital for Africa, Verakki and GreenHouse Capital, to fund early-stage ventures with grants up to N10,000,000 at the #NES25 Startups Pitch holding on the 6th of October 2019 in Abuja.
Dapo Martins, Chief Marketing Officer at Sterling Bank disclosed that the shortlisted early-stage startups who make it to the final rounds and meet the pitching requirements will be invited to pitch before venture capitalists and investors at the summit.
According to him, the top three winners would win cash prizes ranging from₦2.5 million to₦10 million as well as on-going support from NESG and its partners through the NESG Innovation Fund. He added that a ₦1 million audience choice prize would also be awarded at the venue.
Each startup will have five minutes to pitch to prospective investors and 10 minutes to answer questions from them and it is expected that the session will also connect 10 start-ups with venture capitalists and investors.
Explaining the criteria for participation, Martins revealed that eligibility for application and participation is for businesses registered in Nigeria with the Corporate Affairs Commission (CAC) and doing business for no more than five years. Business focus are sectors of the economy that include agriculture, education, health, ICT, manufacturing, renewable energy, and transport.
“Each application must be accompanied by a business plan that should not be more than three pages”, he added.
The Nigerian Economic Summit Group (NESG) organises the Annual Nigerian Economic Summit in partnership with the Federal Government of Nigeria through the Federal Ministry of Budget and National Planning. It has become an annual dialogue and indeed the flagship event of NESG and the Federal Government that has provided a credible and widely recognised platform for top policymakers and corporate leaders.
In 2017, the NESG introduced a Start-ups Pitching Event as part of the annual Nigerian Economic Summit (NES). Many start-up entrepreneurs struggle to get the funds they need to grow their business and, in some cases, even require a mentorship, professional advisory services, among others.
Innovators and entrepreneurs from all over Nigeria would have an opportunity to pitch their start-ups and this is a platform for such businesses to collaborate and interact with individuals and organisations interested in promoting entrepreneurship and an opportunity to pitch to experienced investors and obtain great feedback and possibly capital.
Participation in the #NES25 Start-ups Pitching Event will be strictly by invitation and shall not be open to all summit participants.
Click here to register now
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