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Lawmaker Yishawu awards N5 million to startups in business pitch competition
October 7, 2023
Giving this assertion at the Youth Entrepreneur Program 2.0 Business Pitch organised by a lawmaker representing Eti-Osa 1, in the Lagos State House of Assembly, Engr. Gbolahan Yishawu disclosed that entrepreneurs can use the opportunity to communicate and network with the competition’s judges, mentors, and fellow participants, especially if it is an in-person competition.
According to him, business pitching is an opportunity for entrepreneurs to develop a well-organized and well-researched business plan. Adding that having a clear and accurate understanding about what the competition is looking for and how the competition works is also important.
“Entrepreneurship business pitch is an opportunity to build skills, creativity and marketing skills and in other categories, highlighting the problem and providing solutions that gives your company an edge over other competitors”, he said.
Speaking on the Youth Entrepreneurship Programme Business Pitch 2.0, Yishawu maintained that the idea was borne out of the fact that people have great financial idea, drive and creativity but lack of financial capability would not allow them.
“Another point is that those who have the idea do not know the process to follow when it comes to presenting business idea. And for those who do not win the competition, they would be engaged to understand what they are expected to do.
“Youths should know that there is need to package themselves and be marketable for the future. With a perfect business idea and presentation, they could get funders in future. I believe most of them would have learnt from other people’s presentation to be better of next time so that they can be marketable to investors.
“I believe many investors are looking for businesses to invest into, this platform is an avenue to connect to corporate investors. This is a way of creating jobs for SMEs within the system.
“We have been consistent with youths empowerment because they are the future of the country. We have done Data Analytics, Digital Marketing among others.
“There are vocational training centres that we have been running for more than 12 years and as long as we are representing the people, it will be sustained.
“This is the second business pitch, we have been able to correct some of the issues people had in presenting their ideas. People have business ideas but they do not know how to present it. Some of them are yet to know how to package their idea but I have put it upon myself to talk to the consultant so that they can be trained on how to focus on the solution and make a business out of it.
“The second business pitch has been improved upon and even the participants have been tutored and guided on how to focus on their business idea”, he said.
“There were 57 business ideas but 10 groups were shortlisted and the winner of the business pitch was given N3million. While the second and third place got a consolation cash gift of N750,000.00 and N500,000.00 respectively.
The team leader of Mayazee group, Zainab Musa, graduate of Kwara State Polytechnic appreciated the organiser of the programme.
“When I pitched for the first time, I took the third position and I got a cash gift of N150,000.00. I was not expecting it but I believed that whatever God wishes will come to pass. And for the second pitch, I just came to present my business idea and I never believed I was going to take the first position.
“When I saw other participants and the way they were pitching, I did not believe I was going to win. My business idea that I pitched was sandwich.
“It was my Dad that started the business and I helped him to manage the business. I was working for my dad for a long time but I decided to start up my business and with the help of my team, my business idea took the first position and I am assuring you that with the sum of N3million, we would be able to acquire another outlets”, she concluded.
