Following the gradual recession of the #Covid19 pandemic in the country, we are glad to announce a new date for our 2020 edition of the idea pitching and grant competition called the #UgwumbaEnterpriseChallenge.
This cheering news was released by our President, Ugwumba Uche Nwosu this morning while addressing the press in his Abuja office, after a week-long working visit to Owerri, Imo State.
According to him, “the earlier suspension of the Challenge was a hard decision for us and we are grateful to God that the lockdown has been eased and that economic activities are gradually picking up again in the country. As part of our own contributions to the economic development of the country, we hereby announce that the grand finale of the 2020 Ugwumba Enterprise Challenge is now scheduled to hold on Monday, December 07, 2020 at the Abuja International Conference Center. In this edition, we expect states to produce teams that will compete for our startup grants after passing through an intensive 7 days Online Boot Camp and selection processes.”
Speaking further, the Executive Director of the Center, Remy Chukwunyere informed that his boss has graciously increased the number of grant awards to 10 cash prizes, with the star prize fixed at N1m, followed by a 2nd star prize of N700k, 3rd star prize of N500k, 4th star prize of N300k, 5th star prize of N200k and Consolation prizes of N100k each for the 6th to 10th positions.
According to Mr. Remy Chukwunyere, the theme of this year’s edition is “Team Building: A Critical Need for the Survival of Startups”, which was designed to encourage founders build teams to ensure the survival of their startups.
He thereafter announced that submission of applications will begin on October 01, 2020 and declared that one of the major qualifications for participation in the challenge is that those submitting their business ideas must form teams to be able to apply. This is the 3rd edition of the Ugwumba Enterprise Challenge, so we expect to empower over 3,000 youths from across the country this year, he concluded.