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Discussion Starter #1 (Edited)




The Youth Enterprise with Innovation in Nigeria (You WiN!) Programme is a collaboration of the Ministry of Finance, the Ministry of Communication Technology (CT), and the Ministry of Youth Development that will launch an annual Business Plan Competition (BPC) for aspiring young entrepreneurs in Nigeria, in line with the Federal Government’s drive to create more jobs for Nigerians. The programme will be implemented in partnership with Nigeria’s private sector, who will be requested to provide funding support.


Objectives of the programme

The main objective of the Youth Enterprise with Innovation in Nigeria (You WiN!) Programme is to generate jobs by encouraging and supporting aspiring entrepreneurial youth in Nigeria to develop and execute business ideas that will lead to job creation. The programme will provide aspiring youth with a platform to show case their business acumen, skills and aspirations to business leaders, investors and mentors in Nigeria.

Specific Objectives of the Programme include to:



  • 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.

  • 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. You/wiN 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.
All applicants for the Business Plan Competition will be required to satisfy all of the following criteria to be eligible for consideration:

  • The applicant is a proven citizen of Nigeria, no older than 35 years (proof of identity international passport/voters card)
  • The applicant is proposing a business venture within the national borders of Nigeria, and with the intention of employing Nigerian citizens.
  • The proposed venture does not entail the production and distribution of weapons, alcoholic beverages, tobacco or/and gambling, or any activities that is in contradiction with the Nigerian constitution
  • Applicants have prepared an innovative business concept summary
  • The promoter should be willing to make an equity contribution in kind, but does not need to have long experience in managing a business
  • The applicant 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 the applicant wishes to do business.
http://www.youwin.org.ng/whoqualified.php
 

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Discussion Starter #3
FG Launches N50bn Job Creation Fund


Wed, 12/10/2011 - 2:15am
GEORGE AGBA and GLORIA EZEIRU

President Goodluck Jonathan yesterday flagged off a N50 billion seed fund for job creation (YouWin) scheme, saying that the programme was designed to tackle youth unemployment in the country.

Jonathan said, at the event in Abuja, that his administration was committed to creating job opportunities for the youth by empowering them to become job providers and not job seekers.
He said the YouWin programme conceived for the purpose aims to create between 80,000 and 110,000 sustainable good jobs over the next four years.
Said the president: “In the course of the campaign for the April 2011 elections, I identified unemployment as one of our biggest challenges that we must address to unlock our vast potential. My concern is, let’s identify those that have potential so that we can empower them.

“This year when we met in Malabo, it was discovered that Africa was one of the continents where youth population is very high. In the United States of America and other continents they have population control measures especially in the area of child bearing, but we discovered that in Africa there are no such control measures.

“And I believe that at that rate we will be able to create jobs faster. And that was why when we created the budget for this year we set aside a N50 billion fund for job creation. Today we have come up with this programme to see how we can help the young people who have the creative ability and turning such creative ability into money.”

He however called on state governors and the National Assembly to collaborate with the federal government in order to expand the programme.

Earlier, the minister of finance, Dr. Ngozi Okonjo-Iweala, stated that the scheme was not all about winning but focuses on empowering those with good business ideas to put them into use, while those without good ideas would undergo training to grow their businesses.

He said the programme was geared towards replicating what has been done in other developed economies.

According to her, “You know that unemployment is a big problem in Nigeria. We thought it was not all about talking but getting things done. It was a challenge for us trying to come up with some ideas; we are trying to do something that’s been done in other parts of the world. We want to empower our youth to start thinking of how to create jobs, not how to get a job.”

“It’s not all about winning in the competition, but it’s about empowering them to move their business forward. The programme is focusing on empowering those with good business ideas to put them into use, while those without good ideas will undergo training to boost their ideas in order to move their business forward. We will link them with banks to source for the capital they need. But more importantly, we will make sure that we monitor this programme vigorously.”

YouWin is a business plan competition aimed at job creation by encouraging and supporting entrepreneurial youth in Nigeria to develop and execute business ideas.
http://leadership.ng/nga/articles/6454/2011/10/12/fg_launches_n50bn_job_creation_fund.html
 

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Hope this lasts.... Cause I can list tens of other "poverty eradication" schemes that have been inaugurated between 2001-2011.
 

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how can 1, 200 youth who are obviously amateurs create 80 000 jobs? another ploy to waste money by the fg, instead you use 50bn to start dying industries like manufacturing, that will create more jobs in less time, there are 200000 graduates every year and businesses fail and you are relying amatuers to generate employment :nuts:
 

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The program has been postponed as of recent:

Some believe that turn out for the program was much lower that expected, due to the fact the cut off date has been extended several times.

I'll try to look for an article or something...
 

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by the way i don't have faith in it, 80% of those getting funding will not run succesful businesses in the near future, we were speaking of hand outs, this is the mother of all hand outs, give it to people already standing on there feet, most of those getting funding are starting anew, business concepts are the easiest thing to write up, practice is something else, this should not be about winning and losing, attracting ideas and innovation should start at the top, not the bottom
 
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