The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) says its new initiative, “SMEDAN Speed Pitch,” aims at promoting financial literacy and facilitating access to funding for small businesses.
Director General of SMEDAN, Charles Odii explained that the programme aligns with SMEDAN’s ‘GROW Nigerian’ strategy, geared towards bolstering local production by equipping SMEs with financial and non-financial support, such as market access, knowledge enhancement, mentorship, and tools for sustainable growth.
In a statement issued by the Special Adviser on Media to the Director General of SMEDAN, Peter Adeshina, participants will undergo training to develop and clearly articulate unique business innovations, viability, and potential to unlock opportunities, including private investments, in the country and across the globe.
Scheduled to kick off on May 1, 2024, the inaugural edition of the pitch competition is part of the NSME Engagement Series, hosted by the Senior Special Assistant to the President on Entrepreneurship and Innovation/Digital Economy Jennifer Adighije.
The competition is opened to only female-owned businesses, which has been registered and operational for at least three years.
Shortlisted applicants will undergo a test to determine the top five performers who will get the chance to present their pitch at the main event in Lagos.
The winner will receive a prize of ₦1,000,000 for workforce support, procurement of work tools, and business expansion.
Runners-up will be awarded ₦300,000 and ₦200,000 respectively, in addition to complimentary Business Development support.
RN
