₦airaland Forum

Ignite business idea competition is not worth it at all. I don't know why first bank and the organizers are very stingy. Can you believe that the prize money for winners is 100,000 naira to start a business in Lagos? What kind of business can 100,000 naira start? It is even a loan and not a grant. What got me annoyed further is that I was mailed that I was shortlisted among winners to come for training in Ikoyi. They said there will be no refreshment and writing materials for us. Can you imagine? They think transport fare to go for the training to Ikoyi is cheap in lagos? How much is writing materials and refreshment that first bank and the organizers can not provide for the winners at the training? Infact they are a joke. They had better learn from youwin, tony elumelu foundation for start up, and others about how to conduct business plan competition. You treat contestant with full respect. Rubbish competition. I am ignoring there training invite. Not worth it.

Not surprised, we dont value innovation and risk in this part of the world. Where Venture capitals in america and co are writing checks in millions of dollars , we are here doling out 100k ($480) ; Heck, this can't the even pay 1 month rent in downtown new York.