Successfully pitch and receive takeoff grant and 1 year business support from Octo5

Successfully pitch and receive takeoff grant and 1 year business support from Octo5

Keeping with its earlier promise to lead the conversation about addressing the huge needs of Nigeria's over 24 million millennials, Nigerian real estate company Octo5 Holdings has announced a micro-business support initiative to help young entrepreneurs prepare for a post-COVID-19 world.

Successfully pitch and receive takeoff grant and 1 year business support from Octo5

Tagged the Millennials Micro Business Incubation Plan (M2Biz) the initiative will support micro-businesses with equipment or cash between N25,000 and N100,000. Successful participants in the contest will also receive free legal and accounting services from a business management organisation that will be announced by Octo5 Holdings in the coming days.

Successfully pitch and receive takeoff grant and 1 year business support from Octo5

Successfully pitch and receive takeoff grant and 1 year business support from Octo5

Mr Babajide Odusolu, CEO of Octo5 Holdings while speaking of the initiative said: "Our goal is to support micro-businesses, which SMEDAN has termed as those with annual revenue below N500,000, with capital and business support to help them survive or scale". The company also stated that this contest is the first phase of its long-term strategy to help businesses at the bottom of the pyramid grow.

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Broadcaster and media entrepreneur, Mr Dayo "D1" Adeneye, who hosted the Octo5 Holdings CEO in an Instagram live session on Saturday said he believes the initiative will deliver critical impact for MSMEs as businesses are coming to terms with the economic realities of the COVID-19 pandemic. "While some companies are tightening their fists and laying off staff in the face of a global economic crisis, it is inspiring to see brands like Octo5 Holdings provide support for micro-businesses and cottage industries."

Successfully pitch and receive takeoff grant and 1 year business support from Octo5

To take part in the challenge; upload a 1-minute video of yourself on Instagram and Facebook stating how N25,000, N50,000, N75,000 or N100,000 can change your business and what you require the funds for. All entries must be posted on either Facebook or Instagram with the hashtag #Octo5MicroSupport and you must tag, like and be following @Octo5co on Instagram and Facebook. Entries will open on April 18th and will close by April 20th. Participants MUST be between the ages of 19 and 34 as of April 18th.

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Winners of the first stage of the contest will be announced by Tuesday, April 21st, after which semi-finalists will be required to send in stage 2 videos explaining their business and requirements. The winners of this stage will be judged by a combination of likes on their videos and the decision of a panel of judges to be chosen by Octo5 Holdings. Prizes will be given out on a date to be announced once COVID-19 restrictions on movement are lifted.

Head of corporate communications and strategy at Octo5 Holdings, Miss Adenike Alao said the two stages of the contest are to ensure that only those who would most benefit and grow their business for impact are chosen. "This is not a regular giveaway or contest; we are looking to support millennial entrepreneurs who will, with our support, become employers of labour and help lift other millennials out of poverty."

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Source: Legit.ng

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