The Small and Medium Enterprises Development Agency of Nigeria, has unveiled a new initiative tagged “SMEDAN Speed Pitch,” with the aim of boosting financial literacy and easing access to funding for small enterprises.
SMEDAN’s Director-General, Charles Odii, explained that the program is a component of the organization’s “GROW Nigerian” strategy, which is designed to support domestic manufacturing by providing SMEs with both financial and non-financial support. This support includes market access, knowledge enhancement, mentorship, and tools for long-term growth.
According to Peter Adeshina, Special Advisor on Media to the Director-General of SMEDAN, candidates will receive training to polish and persuasively showcase their unique company ideas, viability, and ability to open doors, such as both local and foreign investors.
About The Competition
Soon to begin, the competition’s first edition is a component of the NSME Engagement Series, which Jennifer Adighije, the President’s Senior Special Assistant for Entrepreneurship and Innovation/Digital Economy, is leading.
Businesses must be owned and operated by women, registered with the government, and open for business for at least three years in order to participate in the first edition. The deadline for applications is April 24.
The chosen candidates will go through a screening procedure in order to determine the top five candidates who will get the opportunity to present their pitches at the main event in Lagos.
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To be considered, those who are interested must post a three-minute video pitch on the internet that includes an introduction, a description of the product or service, an emphasis on how it solves a problem, and an argument for why it should be chosen.
Additionally, applicants should adhere to and tag SMEDAN’s official pages (@smedaninfo) and use the hashtag #SMEDANSpeedPitch.
The ultimate winner will secure a ₦1,000,000 prize to fortify their workforce, procure work tools, and broaden their business horizons. Runners-up will receive ₦300,000 and ₦200,000 respectively, in addition to complimentary Business Development support.