Sterling Bank offers N10m to innovative entrepreneurs
The Pitch, a type of Shark Tank challenge for budding entrepreneurs powered by Sterling Bank, debuted on YouTube with an offer of N10 million in seed capital.
The 13-episode show provides aspiring and emerging entrepreneurs with the opportunity to pitch their ideas for seed funding. It fosters innovation and supports new businesses to unleash their potential.
Developed in partnership with the Enterprise Development Centre (EDC) of the Pan-Atlantic University, The Pitch received over 8,000 applications from entrepreneurs across the country. Entries were screened with 1000 applicants benefitting from entrepreneurship training through the EDC learning platform. The training was put together to help beneficiaries develop financial management and corporate governance skills required for their firm’s survival and growth.
Abubakar Suleiman, CEO, Sterling Bank and Executive Producer of The Pitch, said the entrepreneurship course which preceded The Pitch would help all participants grow their companies. “It was a capacity building programme for aspiring entrepreneurs who want to learn about business, and for emerging entrepreneurs who are intent on growing their business.”
Abubakar added that 200 out of the 1000 beneficiaries of the entrepreneurship training will have the opportunity to present their business ideas and businesses to experts for funding. They are aspiring and emerging entrepreneurs with innovative solutions and projects requiring funding that have skilled up on financial management and corporate governance through the entrepreneurship training programme.
Gbenga Adegoke, Project Manager, The Pitch, said the goal of the programme is to stimulate the economy by creating sustainable businesses which will equally create new employment opportunities. He added that The Pitch will help startups and small business owners run better businesses.
“The Pitch was developed to provide aspiring and emerging entrepreneurs with the opportunity to bring their dreams to fruition. It allows them to pitch their ideas or businesses to experts with the goal of convincing them to invest N10 million in their idea or business,” Adegoke disclosed.
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