The Central Bank of Nigeria (CBN), has introduced a N500 million Tertiary Institution Entrepreneurship Scheme (TIES) grant to support the youth in tertiary institutions and graduates as well.
According to the regulatory body, the grant will promote entrepreneurship and reduce unemployment in the country.
The 5 top Nigerian universities and polytechnics with the best entrepreneurial ideas will be awarded the TIES grants as follows:
- First place: N150m
- Second place: N120m
- Third place: N100m
- Fourth place: N80m
- Fifth place: N50m
Criteria for application
The scheme will cover innovative start-ups and existing businesses that are owned by graduates of Nigerian universities and polytechnics in the following fields:
- Information technology: robotics, application/software development, data management, business process outsourcing
- Science and technology: renewable energy, medical innovation, robotics, waste management, ticketing systems, traffic systems
- Creative industry: beauty/cosmetics, entertainment, fashion, artwork, photography, publishing, culinary/event management
- Agribusiness: processing, production, logistics, storage
- Other activities as determined by the CBN.
NB: Priority will be given to entrepreneurial ideas with high potential for export, job creation, and transformational impact.
Eligibility for participation
The opportunity is only open to graduates of Nigerian universities and polytechnics with:
- First degree certificate (BSc/HND/ or its equivalent)
- Certificate of Participation issued by universities and polytechnics evidencing entrepreneurship training
- National Youth Service Corp (NYSC) discharge or exemption certificate
- Not more than 7 years post-NYSC.
How to apply
Interested applicants in the TIES grants can apply via the designated online portal and provide all the required documents.
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