The Ibasten Entrepreneurship Development Initiative Pitching Contest for Nigeria’s South West Geopolitical Zone has ended in Lagos.
The contest which featured young entrepreneurs from all the states in the South West geopolitical zone took place on Saturday March 16, 2019.
Among the panel of judges was the Managing Director of Ibasten Oil and Gas, Mr. Austin Ibadin. Mr. Ibadin expressed excitement at the impressive turnout of entrepreneurs from all over the geopolitical zone.
Speaking after the event, the Ibasten Oil and Gas boss remarked how excited he was about the quality of ideas presented by the entrepreneurs at the Pitching Contest.
He said the Ibasten Entrepreneurship Development Initiative (IEDI) was the Corporate Social Responsibility arm of Ibasten Oil and Gas. The initiative according to him was established to promote entrepreneurship in Nigeria.
It also has the mandate of connecting young entrepreneurs to business funding opportunities be it grant, loan or equity investment.
Mr. Ibadin restated the company’s continued commitment to support the IEDI to expand growth opportunities for entrepreneurs. He also called on other corporate entities to come up with similar initiatives that would promote entrepreneurship in Nigeria.
The pitching contest featured presentation from entrepreneurs in Agriculture, manufacturing, ICT, fashion etc.
86% of the businesses that pitched at the event were existing businesses while the rest 14% were still at the conceptual stage.
According to the National coordinator of Ibasten Entrepreneurship Development Initiative, Mr. Emmanuel, the event would capture entrepreneurs across Nigeria.
Emmanuel said the pitching event will continue across other zones after which entrepreneurs will be exposed to in-depth mentoring.
Following the thorough mentoring program, entrepreneurs will be linked to various funding opportunities that will allow them access the funding they need to grow their businesses.
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Some if the entrepreneurs who participated in the pitching contest expressed excitement and believe that their ideas would receive support. The also expressed their desire to be part of similar entrepreneurship development programs by the IEDI.
The dates for the South south and South East Pitching Competition will be announced soon.