The Sterling Bank “The Pitch Nigeria powered by SMEToolKit Challenge” is a challenge designed to develop and strengthen the entrepreneurial & managerial capabilities of entrepreneurs in Nigeria.
We are focusing on the following areas:
d. Renewable Energy
h. ICT businesses
The selection process would be in three (3) levels:
1. One thousand (1,000) successful applicants will go through 3 weeks online class
2. 200 of the participants will be invited for the second level
3. After a selection process, 50 SMEs will be invited to a three (3) day boot camp as part of the Sterling bank “SME Academy”.
After a final pitching session, 3 finalists will win up to N10 Million in funding and business support.
What kind of businesses can apply?
We work with small businesses; this includes businesses across all sectors. The majority of Pitch Nigeria entrants should have started making sales. Pre-revenue businesses can enter The Pitch, however, they need to be able to demonstrate traction in what they are trying to achieve.
The Pitch Nigeria powered by SMEToolkit Challenge judges consider these main points:
- Team: How strong is the founding team in terms of skills, experience, and vision?
- Product or service: Does the business solve a problem consumers care about and what traction has it gained so far?
- Market: How big is the addressable market, how will you beat the competition and what is the scope for growth?
- Fund Management: Participants must show a level of investment readiness and Interest in Access to Finance
- Expansion plan: Do you have a good strategy for expanding your business, what is your employment generation capacity?
- Book-keeping: Must have evidence of proper financial record and tax payment
- Payback plan: Participants must be able to demonstrate the ability to repay the interest-free funding
1. You must be a business owner (both start-up and existing businesses)
2. 18 years to 65 years
3. Fill the online application form
Applications start from 5th October to 22nd October 2018. Click here to register your startup.