Foreign investors to boost youths entrepreneurship

…Promises €5000 rewards for top seven start-ups

Nigeria Tech startups with viable ideas to transform the economy and lifestyle may be in line for financial support tagged ‘Next Economy Crowdfunding’ courtesy, investors from Netherland.

The programme Manager, Next Economy, Thijs van Bemmel, at a ICT workshop held in Lagos, said the initiative is funded by the Dutch Foreign ministry through the one per cent club which aims to empower African youth in developing their talents and skills required to contest in the 21st century and create a future for themselves.

‘The Next Economy’s thrust is the ability of African youths to dream and bring their concepts to reality thereby changing their lives, and those around them and eventually with enough push for Africa at large,” he said,

The Next Economy carries out its objectives by promoting three schemes aimed at encouraging the holy triad of employability, entrepreneurship and business skills needed for a successful career and entrepreneurship.  

The schemes are tagged ‘Make It Work’, ‘Get It Started’ and ‘Grow Your Business’ respectively.For the Director of Programmes (Open living labs), Cocreation Hub Lagos, Femi Longe, who also supports the initiative, the Crowdfunding is targeted at early stage start-ups, small and medium scale enterprises and entrepreneurs in need of funds to kick-start or scale up their businesses and bring their ideas to reality.

“Crowdfunding has a lot of potential as a unit of generating capital, but that it is necessary for whoever is designing to campaign to create value and ask themselves what value they are creating that will make people willing to donate to their cause in good faith,” he said,

The scheme is currently running in three African countries including Nigeria, The Next Economy collaborates with facilitators already on ground individual countries to carry out its prerogative. For example, in Nigeria The Next Economy partners with CoCreation Hub, Fate Foundation and SOS Village amongst others.

The Next Economy is currently running these programs in Lagos and Abuja, which admits participants on a quarterly basis. The Crowdfunding Bootcamp kick started in conjunction with Cocreation hub on Saturday.

The most successful campaign of the day and the most favourite campaign of the day win €500. After the campaign period of 30 days, a jury will reward the top 7 startups with extra funding of €5000, €3000, €2000 and €1000 for the last 4 respectively.