Micro enterprises to get 100,000 Naira Grant every month from Seed40

Micro enterprises to get 100,000 Naira Grant every month from Seed40

In a bid to help grow the number of mentors committed to supporting the growth of micro enterprises in Nigeria, CCHUB’s founder, Bosun Tijani has launched an initiative that allows mentor to nominate any micro enterprise for a 100,000 Naira grant to boost the business. Called Seed40, the initiative was established to identify and invest in

In a bid to help grow the number of mentors committed to supporting the growth of micro enterprises in Nigeria, CCHUB’s founder, Bosun Tijani has launched an initiative that allows mentor to nominate any micro enterprise for a 100,000 Naira grant to boost the business.

Called Seed40, the initiative was established to identify and invest in micro enterprises through an informal network of mentors. ANY small business can be nominated by a mentor who is inspired and willing to devote time and expertise to help such business grow.

2017 is an important year for me and I have decided to mark it with a social experiment that might inform something exciting #seed40 1/3

— ‘Bosun Tijani (@bosuntijani) January 29, 2017

Read Also: Nairabet CEO, Akin Alabi to give 5 million Naira to 50 MSMEs

According to a statement from the organizers, the Seed40 initiative is a “social experiment aimed at investing in, and harnessing support for “extremely unlikely entrepreneurs.”

Accordingly, “extremely unlikely entrepreneurs” here would mean ANY small business owner operating on a very small scale, usually supported by micro-credit. That is, a business as small as a fried yam, or roasted plantain, could be nominated by an inspired mentor.

To benefit from this, a micro enterprise has to be nominated by a mentor who applies on behalf of the business owner. Direct application by entrepreneurs will be disregarded.

As part of the application process, the mentor uploads a 5-minute video talking about the business, how he/she (mentor) intends to support and in what ways will the 100,000 Naira grant help the business grow.

The scheme will only fund just one micro enterprise every month. Applications can be submitted anytime during the year.

Are you a mentor with a micro enterprise you would like to nominate? Then you can apply here.

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