Africa’s leading video streaming platform, StarNews Mobile and World Black Finance Forum (GBEF), announced today a call for applications for the launch of their Business Competition at Hare, Nigeria.
Made in collaboration with MTN and United Nations Agency for International Development (USAID)the initiative will empower Nigeria’s most promising businesses classified as Small and Medium Enterprises (SMEs) with invaluable investment and partnership opportunities from the US.
Details
Kept for 10 weeks from April 8 to June 14, hosted exclusively on the StarNews Biz Channel on the StarNews platform, this competition offers a platform for budding entrepreneurs to showcase their businesses and gain national exposure.
With subscribers voting for their favorite candidates, the Top 20 contestants they will grab the spotlight and make their mark on the business landscape.
About the Contest
The StarNews Business Contest in partnership with GBEF offers a unique opportunity for thriving Nigerian SMEs to access mentoring, funding, partnerships and socio-economic development tools through the Global Black Economic Forum.
With the prospect of securing monetary rewards through StarNews worth up to NGN 5,000,000gaining access to the StarNews investor network and the opportunity to gain national exposure by having their business on the StarNews online platform.
The top three winners will also receive mentoring from GBEF’s Academy for Advancing Excellence and become part of GBEF’s ecosystem of global leaders committed to social and economic justice across the Black Diaspora. Past GBEF conference speakers from the entertainment industry include Wyclef Jean (Haitian Musician & Activist), Debra Lee (Former CEO of Black Entertainment Television – BET), and Ceci Kurzman (Founder of Nexus Management Group).
Applications will closing on April 5, 2024.
By The Numbers
According to the US Embassy and Consulate in Nigeria, over 80% of Nigeria’s startups are incorporated in the United States and more than 60% of venture capital funding to Nigerian startups represented by the US.
Only in 2023, Nigerian startups raised a total of $398 million However, this meant a 66% reduction in funding. compared to 2022 due to the global economic recession, reinforcing the massive need for fresh injection of capital and business support for Nigeria’s emerging SMEs.
What they say
Speaking of starting the contest, Guy Kamgaing, founder and CEO at StarNews Mobile, says “The StarNews Business Contest is a passion project close to our hearts at StarNews Mobile. It is about discovering the most promising entrepreneurs and creators in Nigeria, opening them up to global opportunities and providing them with the resources and tools to achieve their goals. By partnering with MTN, USAID and GBEF, we want to be an empowerment platform for these SMEs by helping them give back to the communities that support them.”
Alphonso David, President and CEO of the Global Black Economic Forum; notes that“Our partnership with StarNews Mobile is a critical resource as we continue to build the collective power of entrepreneurship across the Diaspora. Building a sustainable ecosystem of black entrepreneurs in the United States and across the African continent is essential to creating a future that makes economic opportunity and financial freedom a reality for all.”
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