Twelve members of National Youth Service Corps (NYSC) have won cash prizes totalling N4 million in the Unity Bank’s flagship business plan competition ‘Corpreneurship Challenge’ .

Olufunwa Akinmade, the bank’s senior official, disclosed this in a statement made available to the News Agency of Nigeria (NAN) on Tuesday in Lagos.

Mr. Akinmade said the winners emerged during the final business pitch in the fourth edition of the contest for NYSC 2020 Batch B corps members, which took place simultaneously across four NYSC camps in Lagos, Ogun, Benin, and Abuja.

He said that the cash prizes included a N200,000 business grant for each of the second runner up, N300,000 business grant for the first runner ups and a star prize of N500,000 for each of the four winners.

The official said the competition was to encourage more youths with clear entrepreneurial intentions to expand or start profitable ventures.

“The grants are not a loan and we want the money to be directed towards profitable ventures, Mr. Akinmade said.

“It is important to constantly think about the challenges you will face. Put the same energy you all have displayed in preparing for this contest in your businesses as you face your post-service year ahead.”

He said  that the Bank would sustain the programme in order to achieve record impact on job creation.

“Our expectations are in two folds: that they manage the money well such that at the end of the year in addition to the N500,000, N300,000, N200,000 that they won today, they will double it.

“Second, we want people who, at the end of the year, can become employers of labour. This is our first step towards reducing unemployment in the country,” Mr. Akinmade said.

Some of the winners, according to the statement, include Evelyn Esumai, Aisosa Erica and Ozuoka Moses in Abuja camp, while Akomolade Blessing, Okafor Augustine and Edokpayi Harrison emerged the winners in the Benin camp.

In Lagos, Moses Bolanle, Iran-Ola Oluwosulu and Zainab Muhammed emerged winners to claim the cash prizes, the statement said.

Over 300 applications were received, but only 40 were shortlisted for the pitching session from where the 12 winners emerged.

The contestants’ business plans which ranged from fish production, poultry farming, fashion, piggery to beverages were assessed on originality, marketability, future employability potential of the product and knowledge of the business.

(NAN)