Good day.
I want to bring to your notice the Ignite Ideas Contest and I think it is worth sharing for the budding entrepreneurs

The details below:

ABOUT COMPETITION
The Ignite Ideas Contest is an initiative spearheaded by AGDC, with implementing support from Generation Enterprise, sponsorship from The Chair Center and the Lagos State Government, and collaboration from partners such as Digital Jewels and First Bank.

The contest aims to identify, incubate and fund 1,100 viable business concepts in Lagos State.

Each of the One Thousand one hundred (1,100) winners are eligible N100, 000 (One hundred thousand naira only) as seed capital to progress their business ideas and also benefit from business management mentoring by experts.

The submitted business ideas will go through a screening process by a Screening and Selection Committee carefully selected from varying industries across the nation.

This singular contest will ensure that brilliant business ideas do not die due to lack of funds.

By so doing, The Chair Centre Group and Lagos State Government will motivate the budding entrepreneurs, help address needs in the society and make dreams come alive.


Program Details

With over 200 businesses funded in our first batch: IGNITE1, we are seeking to enroll in the second batch of entrepreneurs who will make up the cohort of IGNITE2.

What we look for: Talented, creative and dedicated young people who have a business or an idea that they believe can become a successful and scalable company.

What’s the deal?

Accepted participants will gain access to seed funding of up to N100, 000, as well as skilled expertise to help them with their business strategy and growth. Qualified applicants with high potential businesses will be selected to enroll in the 3-month incubator program which will include additional training, mentorship and exposure.

FUNDING: Entrepreneurs selected to take part in Ignite are automatically qualified to receive a maximum of N100, 000 interest free loan. The loan has a 3-month moratorium, and must be repaid within a 12-month period (following the 3 month moratorium). Entrepreneurs who perform well and build credit-worthiness during that time may qualify for additional funding and support.

TRAINING: All selected applicants are required to attend a 1 day business bootcamp to refine their business strategy

INCUBATION: Select entrepreneurs may qualify to take part in the 3-month business incubation program (please note that acceptance into Ignite Ideas is not an automatic acceptance into the incubator program). The incubation program includes additional training and business advisory for businesses that have potential to scale and create jobs.

COMMUNITY: All selected participants automatically become part of a community of change-makers, pioneers, explorers, problem-solvers and venture builders. To ensure the experience is enriching for all participants, we carefully select the right type of people to join this network. Within the network, we facilitate information sharing, resource sharing, peer feedback, and continuous exchange. At the end of the program, members continue to stay engaged through the Ignite Ideas Alumni Network housed on Linkedin.

How to apply

Entries must be submitted online within the specified timeframe and conform to specified guidelines and terms and conditions of participation clearly outlined on this website.

All entries will be reviewed by the Panel of Judges who consist of carefully selected accomplished professionals from all walks of life.

Shortlisted entries will be invited for interviews to further review the ideas.

At the end of the screening and selection process, the finalists have the option to enroll into the incubation program, or receive funding without incubation.

A good relationship with the Micro Finance Bank will provide a foundation for a long term banking relationship with the Bank and subsequently the parent Bank.

Terms & Conditions

Applicants must be of Nigerian nationality
Applicants must be between the ages of 18 – 35. Failure to verify age will result in the application being declined.
Applications must articulate a specific business problem to solve or opportunity to address. The ideas must be original, address a clear market gap.
Applicants must be clear on the benefits from the prize money and the viability of idea must be established.
Employees of The Chair Centre Group, Digital Jewels Limited, AGDC etc and their families are not eligible to apply.
The Judges’ decisions are final.

How to Apply

Interested and qualified applicants should follow the link below to apply

Apply at http://www.igniteideas.org or by clicking the sign up button on the Ignite Ideas Facebook https://www.facebook.com/igniteideascontest

Follow Ignite Contest on Twitter: @IgniteContest

Batch 2 applications open from October 20th – November 16th 2015.

"Successful people understand the value of time”.

Help budding entrepreneurs take advantage of this opportunity lalasticlala

Rubbish business idea competition. What business can 100,000 naira start in Lagos. You invite shortlisted applicant for training in Ikoyi, this friday and you still tell them that there is no refreshment and writing materials for them. You think transport fare to Ikoyi is cheap.
Organizers of Ignite Ideas had better learn from business idea competitions like tony elumelu foundation, youwin, etc. No wonder few nigerians showed interest in applying for ignite ideas. For your information, I am shortlisted but I will not come for the training cause your 100,000 loan is peanut. It can not start my business idea.
For God sake, it is even a loan and not a grant. Nonsense competition.