The Federal Government through the National Social Investment Programme (NSIP) has given six startups being incubated at the South-South Innovation Hub 5 million Naira grant to expand their startups.
Presenting the cheques to the startups in Benin City, Minister of State, Budget and National Planning, Prince Clem Agba, said the innovative businesses developed by the startups are laudable and would be showcased at national and international levels.
Prince Agba who was represented by the Permanent Secretary in the ministry, Ernest Umakhihe, said the government was committed to providing grants for startups to grow their businesses and become employers of labour.
“I am greatly excited and overwhelmed by the innovations of the startups. This will be showcased at the national and international levels and we will get more donors to support such initiatives, Agba said.”
In his remark, Edo State Governor, Mr Godwin Obaseki, stressed that youth empowerment is key to eradicating social vices in the country.
The governor who was represented by the Commissioner for Youths, Hon. Damian Lawani commended the innovators for their commitment and for developing solutions-driven businesses.
He assured that the state government was committed to partnering with individuals and groups, including Non-Governmental Organisations to empower youths in the state.
Edo Focal Person of NSIP, Ms Yuwa Aladeselu, noted that the South-South Innovation Hub has created an avenue for youths to develop their innovative ideas into businesses.
She said the grants would enable the startups to expand their businesses, employ more persons and deepen their market base.
Mr Samuel Oluwatobi Gege, Managing Director of Marybel Nigeria Ltd., a partner in the innovation programme, said 17 startups were given N250,000 each to develop their innovative ideas into businesses in the first phase of the grant programme.
He explained that six of the 17 startups who were given N250,000 each were given N5 million grant in the second phase of the grant programme to expand their customer base and create more employment.
247 Medics, Open Employment, Tech Hieve and Numbers were given N1 million each while Study Hub and Circum Pro were given N500,000 each.
