Youth Enterprise with Innovation in Nigeria Business Plan Competition - third edition (YouWiN 3!) for Nigerians (UPDATED)

YouWiN 3! Business Plan Competition

Competition Subjects: Business plans
Competition Level: All levels
Provider: Federal Government of Nigeria
Country to Study in: Nigeria

Scholarship Description
The YouWiN! (Youth Enterprise with Innovation in Nigeria) Programme, an innovative annual Business Plan Competition (BPC), is targeted at aspiring young Nigerian entrepreneurs.

The programme aims to create jobs by encouraging and supporting aspiring entrepreneurial youth in Nigeria to develop and execute business ideas. This is in line with the Federal Government’s drive to create more jobs for Nigerians.

The first round of the competition was awarded in 2011 with 1200 successful businesses. The 2012 (second) round of the entrepreneurial scheme – YouWIN Women, was designed exclusively for female entrepreneurs, age 45 or less.

Now introducing the third round of the entrepreneurial scheme - YouWin 3!.

YouWiN! 3 is the third edition and will feature men and women entrepreneurs in Nigeria between the ages of 18 to 45. Every Nigerian that wants to start a business or expand their existing business can participate.

The 2013 YouWIN Business competition (third edition) was launched by the president on November 25, 2013.

IMPORTANT UPDATE FOR YouWiN! APPLICANTS:
The Deadline for Submission Of YouWiN! 3 Concept Note has been EXTENDED! Please see the section on "Deadlines" below for more.

Eligibility
To be eligible for the Business Plan Competition you must satisfy the following criteria:

• You must be a proven citizen of Nigeria no older than 45 years (proof of identity: International passport/Drivers License/National ID/Voters card required)
• You must have a post-secondary school qualification
• Your proposed business venture must be within the national borders of Nigeria, and with the intention of employing Nigerian citizens.
• Your proposed venture must not entail the production or distribution of weapons, alcoholic beverages, tobacco or/and gambling, or any activities in contradiction with the Nigerian constitution
• You must prepare an innovative business concept summary

Eligible groups
Citizens of Nigeria

Participating Institutions
Open to all types of businesses as long it is viable and has a demonstrable capacity to create jobs.

For existing businesses, you must be registered with the Corporate Affairs Commission (CAC). For new business ideas, you do not have to be registered with CAC. However, sponsors of new businesses that win awards in this competition will be required to register fully with CAC prior to receiving any award funds.

Scholarship benefits
Award recipients will receive between 1,000,000.00 (One million Naira only), and N10,000,000.00 (ten million Naira only), depending on their business needs.

Method of Application

Step 1: Who is Eligible to Apply?
Are you eligible to apply? Please see 'Eligibility' above.

You 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 you want to do business.

Step 2: How to Apply
The next step is your registration. This is done by applying online. Register here.

You will receive a confirmation email from YouWIN! with all the details you will need to log in. More on how to apply.

Step 3: Complete New Business Application
Once you have successfully registered you need to Log in and click on the New Business Application button on the right hand-side.

You can save your application form as you go along, and come back to it at any time. Once you are satisfied with your application, you can use the Submit button on the form to send it. You can submit only ONE application.

Step 4 – Keep Informed
After the closing date you will be notified if you have been selected for the next stage of the competition.

DEADLINES:
The YouWIN 3! competition (third edition) was launched by the president on November 25, 2013.

YouWIN 3! Competition Timeline:
The 1st stage applications close on December 27, 2013.

YouWiN! Applicants: APPLICATION EXTENSION!!!

Submission Of YouWiN! 3 Concept Note has been Extended till 14/02/2014!!!

The deadlines for the subsequent application rounds will be announced in the dailies and on the official website in due course.

PLEASE NOTE:
This competition is a collaboration of the Ministry of Finance, the Ministry of Communication Technology (CT), the Ministry of Youth Development and the Ministry of Women Affairs and Social Development that will launch

The programme will be implemented in partnership with Nigeria’s private sector, who will be requested to provide funding support.

• 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. YouWin! 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.

You can join the discussion on Facebook, Linkedln and Twitter. YouWIN! will also post regular updates on the official YouWiN! homepage (link to it is below).

Contact
If you have any trouble registering please contact us

Application Deadline: 27 December 2013 14 February 2014 (stage 1)
Open to International students: No (ONLY Nigerians)

More Scholarship Information and Application