In light of the recent economic downturn, development strategies that create new jobs and support the growth of businesses are of greater need than ever. Then, here comes the Bank of Industry Youth Ignite Initiative Project. The Youth Ignite Initiative Project is under the Bank of Industry’s Microenterprise Finance Program. It seeks to address these challenges by supporting 1 million entrepreneurs to create 5 million jobs over the next 5 years.
Furthermore, the Youth Ignite Initiative project has as its main objective: to create new jobs through entrepreneurship by supporting 1 million entrepreneurs over the next 5 years to create 5 million jobs.
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How To Apply Youth Ignite Initiative
To apply for the Youth Ignite Initiative program, here are the steps to take. Note that:
- Interested entrepreneurs should visit www.youthignite.ng.
- Click on “Register An Account”.
- In the opened space, fill in your email and password (your password must contain number, lower and upper case letters). You can read about strong passwords here. Afterwards, click on “Next”.
- Fill in your “Personal Details” in the next opened page.
- Click on “Next”. Then complete the details click on “Register”.
- A verification link will be sent to your email address used in registration. Open your email and click on “Verify Your Account”.
- Follow the link and log into your account.
- Finally, once logged in, click on “Submit Application”.
Also See: Tony Elumelu Foundation Enterprenuership Program
- 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 consists of carefully selected accomplished professionals from all walks of life.
- Participants in the Graduate Entrepreneurship Fund (GEF) and Youth Entrepreneurship Support (YES) programmes are not eligible.
Prerequisites For Youth Ignite Initiative Project
This program focuses on talented, creative and dedicated young people who have an existing business or idea that they believe in and are committed to bringing to life.
Application Closes: May 9, 2017
Terms & Conditions
- 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.
- Also, Applicants must be clear on the benefits from the loan.
- Also, Employees of Bank of Industry, FirstBank, AGDC, Digital Jewels Limited, etc. and their families are not eligible to apply.
- The Judges’ decisions are final.
Duration of the Programme
Loan cycle – 12 months (3 months’ moratorium, 9 months’ repayment)
Proposed Amount For Project Funding
Entrepreneurs upon meeting the required criteria and judges review would have access to a “loan” value as required by their businesses capped at N200,000.00 (Two Hundred Thousand Naira) to start or grow their businesses. Successful businesses that are able to prove their concept (through the amount of jobs created, revenue generated, etc.) are then able to access the “scale up loan” up to the tune of Five Hundred Thousand Naira (N500,000).
Make do of the limited time and apply for this Bank Of Industry (BoI) Youth Ignite Initiative Project opportunity. Thanks for coming!