Sterling Bank Nigeria on Tuesday February 12, 2019 doled out business funding to the tune of N64.5 million to winners of the The Pitch Nigeria Challenge Powered by SMEToolkit.
The competition which was sponsored by Sterling Bank Nigeria had 50 entrepreneurs from all over Nigeria participate in a boot camp after a vigorous selection process conducted by the Enterprise Development Centre (EDC) of the Lagos Business School.
The boot camp climaxed with a second level pitching event which involved all 50 entrepreneurs.
5 out the 50 entrepreneurs scaled through to the final stage of the competition which again was the final pitching event.
At the end of the competition, three winners emerged. We apologize that we cannot mention the names of the winners for now. This because of the Pitch Nigeria Show that is coming up soon.
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All the winners were awarded prizes.
The first place winner carted home N10 million. The second place winner smiled to the bank with N5 million while the second runner-up went home with N2.5 million instead of the N1 million announced earlier.
As a surprise package, all the other 47 contestants who couldn’t make it to the final three were awarded N1 million each by Sterling Bank.
The funding which takes the form of an interest free loan is expected to assist the entrepreneurs scale their businesses.
In a statement by the Managing Director of Sterling Bank at the dinner in honor of the winners of the Pitch Nigeria Challenge, Sterling Bank was committed to ensure that all the winners as well as the participants in the entrepreneurial boot camp of the Pitch Nigeria Challenge had access to the funding and mentorship required to take their businesses to the next level.
He mentioned that the doors of the Bank was open to support more and more entrepreneurs in their journey to greatness.
The EDC boss in his remarks stated that over 9,000 entrepreneurs from all over Nigeria applied to be part of the Pitch Nigeria Challenge.
Out of these, 1,000 entrepreneurs were shortlisted to take part in a 3-week online training.
Based on the performance of the learners, 200 of them were shortlisted to take part in a first level pitching event.
From the 200 candidates, 50 were shortlisted to take part in the entrepreneurship boot camp which led to the determination of the eventual winners of the maiden edition of the Pitch Nigeria Challenge.
All the entrepreneurs that attended the award ceremony expressed gratitude to the Bank and its partners as well as the Enterprise Development Centre for the investment made in them.
They also promised to make the best use of the opportunity given them through the training and the funding provided.
From all of us at Entrepreneurs’ Square, we say a very big congratulations to the winners of the Pitch Nigeria Challenge.
We wish you all success in your various business.
Good luck to you all.
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