Michael Olorunfemi John, a 500 level
student in the Department of Transport Management Technology, Federal
University of Technology, Akure (FUTA) has been awarded a $10,000 seed capital
grant by the Tony Elumelu Entrepreneurship Foundation Programme (TEEP) for
emerging entrepreneurs. Michael emerged one of the 1,000 African entrepreneurs
selected from the 45,000 who presented applications for start-up grants.
The Former Team Leader of
ENACTUS (SIFE FUTA) struck the
chord for a spot in the 2nd edition of the grant award by a presentation of an
ICT driven agricultural business plan which is proposed to bridge the gap
between rural farmers and urban end users among other things.
The grant which is aimed at empowering and assisting young
entrepreneurs commence the process of production and supply, as well as the
creation of jobs is split into two tranches. The first is a $5,000 access free
grant while the second would be translated into a $5,000 equity share facility
or a flexible non-profit oriented loan facility.
The grant would be disbursed after the foundation’s
mentorship programme organized for beneficiaries from 51 African countries
between the ages of 21 and 40, commencing in May, 2016.
The TEEP is a foundation that aims at gathering investment
and entrepreneurs who will bring both the ability to attract capital and
necessary support for those who will help Africa harness its enormous potential
in creating extra ordinary opportunities across the continent.
source: here
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