Youth Enterprise with Innovation in Nigeria (YouWiN!) Business Plan Competition for Nigerians

YouWiN! (Youth Enterprise with Innovation in Nigeria) is an innovative business plan competition, by the Federal Government of Nigeria, aimed at job creation by encouraging and supporting aspiring entrepreneurial youth in Nigeria to develop and execute business ideas. Every Nigerian aged 18-40 years that wants to start a business or expand their existing business can participate.

The first round of the competition was awarded in 2011 with 1200 successful businesses. The 2012 (second) round of the entrepreneurial scheme – YouWIN Women, was designed exclusively for female entrepreneurs, age 45 or less.

Introducing YouWin 3!

The 2013 YouWIN Business competition (third edition) will be launched by the president, within the month of August, for both men and women entrepreneurs in Nigeria between ages 18 and 40.

Eligible groups
Citizens of Nigeria.

Participating Institutions
Open to all types of businesses as long it is viable and has a demonstrable capacity to create jobs.

For existing businesses, you must be registered with CAC. For new business ideas, you do not have to be registered with CAC. However, sponsors of new businesses that win awards in this competition will be required to register fully with CAC prior to receiving any award funds.

Scholarship benefits
Award recipients will receive between 1,000,000.00 (One million Naira only), and N10,000,000.00 (ten million Naira only), depending on their business needs.
Method of Application
Step 1: See Who is Eligible to Apply
To be eligible for the Business Plan Competition you must satisfy the following criteria:
•    You must be a proven citizen of Nigeria no older than 40 years (proof of identity: International passport/Drivers License/National ID/Voters card required)
•    You must have a post-secondary school qualification
•    Your proposed business venture must be within the national borders of Nigeria, and with the intention of employing Nigerian citizens.
•    Your proposed venture must not entail the production or distribution of weapons, alcoholic beverages, tobacco or/and gambling, or any activities in contradiction with the Nigerian constitution
•    You must prepare an innovative business concept summary
You must choose to participate in one award pool. There are 6 regional pools on the basis of geo-political zone as identified by market in which you want to do business.

Step 2: See How to Apply
The next step is your registration. Register here.

You will receive a confirmation email from YouWIN! with all the details you will need to log in. More on how to apply.

Step 3: Complete New Business Application
Once you have successfully registered you need to Log in and click on the New Business Application button on the right hand-side (the link will be visible once the competition is launched in August 2013).

You can save your application form as you go along, and come back to it at any time. Once you are satisfied with your application, you can use the Submit button on the form to send it. You can submit only ONE application.

Step 4 – Keep Informed
After the closing date you will be notified if you have been selected for the next stage of the competition.

•    YouWiN! is an equity contribution to your business. It is therefore NOT A LOAN but a grant.
•    Award recipients will be paid according to the needs of the business and specific mile-stones stated in the business plan.
•    Award recipients must be registered with CAC before disbursment of funds even though they do not need to be registered to apply. YouWin! will support the registration process.
•    Award recipients will opperate accounts using their registered companies with any of the participating commercial banks prior to disbursment.
•    Award recipients must sign a grant agreement with the managers of YouWiN!before disbursment of funds.

YouWIN 3! Competition Timeline
When will the next round application begin?
Date will be announced in the dailies and on the website.

The 2013 YouWIN Business competition (third edition) will be launched by the president, within the month of August, for both men and women entrepreneurs in Nigeria between ages 18 and 40.

You can join the discussion on Facebook, Linkedln and Twitter. YouWIN! will also post regular updates on the YouWiN! homepage.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s