YouWiN stands for Youth Enterprise with Innovation in Nigeria. It is an innovative business plan competition aimed at job creation by encouraging and supporting enterprising entrepreneurial women [of 45 years and below] in Nigeria to develop and execute business ideas. It is a collaboration of the Ministry of Finance, the Ministry of Communication Technology (CT), the Ministry of Youth Development and the Ministry of Women Affairs and Social Development. YouWiN is an equity contribution to the business, and is therefore not a loan, but a grant.
Specific objectives of the scheme as seen on the on its home page include:
- Attract ideas and innovations from young entrepreneurial aspirants from Universities, Polytechnics, Technical colleges, and other post-Secondary institutions in Nigeria;
- Provide a one-time Equity grant for 1,200 selected aspiring entrepreneurs to start or expand their business concepts and mitigate start up risks;
- Generate 80,000 to 110,000 new jobs for currently unemployed Nigerian youth over the three years during which the three cycles will be implemented;
- Provide business training for up to 6,000 aspiring youth entrepreneurs spread across all geo-political zones in Nigeria;
- Encourage expansion, specialization and spin-offs of existing businesses in Nigeria; and,
- Enable young entrepreneurs to access a wide business professional network and improve their visibility.
It was launched for the 2012/2013 session on the 3rd of September by the President of the Federal Republic of Nigeria, and first stage business concept submission closes on the 14th of October 2012. Notification of successful first stage candidates and invitation for training in each state of the nation will take place on the 30th of November 2012. Other information concerning the timeline for submissions can be accessed on www.youwin.org.ng.
Partners are Julius Berger, DFID, First Bank, Access bank, Stanbic IBTC and UBA bank.
So what is that dream you cannot wait to birth? Get going!