By; VITALIS UGOH, Calabar
Africa Plus Partners (APP) Nigeria limited, a Securities and Exchange Commission licensed private Equity firm and fund Managers of the Africa Infra Plus Fund (AIPF), has launched venture startup competition for Students in Nigerian Universities.
The student Venture prize worth N1.8million is seeking to support individual students who have venture ideas, and whose ventures have the potential to create impact at scale.
Interested university students across the country are expected to apply at no fee through online by visiting APP Student Venture Prizefrom October 6th, 2019 to November 10, 2019.
A student or group of students; a maximum of four in a group, that have been able to identify an opportunity or challenge and is thinking big about how to solve it will be given the opportunity to showcase their ideas for a prize.
Briefing newsmen in Calabar in the premises of modern hostel facility, called Windsworth Hostel, a Public-Private Partnership initiatives entered into by APP with the authorities of the University of Calabar, the Managing Director of APP and Chief Investment Officer of AIFP, Adeniran Ajakaiye explained that two weeks after the close of the online applications on November 6th, by November 25th, top 10 finalist students will be selected and notified.
Mr Adeniran noted that the finalists will be in a “Bootcamp”, all expenses paid for them, between December 6th and 14th 2019 to receive specialized workshops to help them prepare for the final pitch day, called “The Lion’s Den/Grand Finale”- The workshops will focus on pitch mechanics, Presentation, and substantive evaluation”, he added.
According to him, “the grand finale is called the Lion’s Den because the finalists will pitch front of an esteemed group of accomplished chief executives as well as APP management and directors. The winner from the 10 finalists will go home with N1, 000, 000. The second and third will receive N500, 000 and N300, 000 respectively”.
He emphasized that the prize money is simply for the efforts in participating and it is different from the funds that will be invested into the winning venture idea.
He further explained that APP will also provide an opportunity for the prize winners to have access to a deep and knowledgeable roster of mentors, industry contacts, and experienced entrepreneurs to give them support and assistance.
Giving more insight into the capacity of APP and the N20.5billion funds it manages through AIFP, the Managing Director of APP said the fund’s target sectors include: Power, transportation and basic infrastructure in Nigeria with oversight of West African countries. The key differentiating feature of the Fund relative to other infrastructure funds is a focus on small to mid-sized infrastructure projects.