FOLAWIYO ENTREPRENEURSHIP CENTRE MAIDEN BUSINESS IDEA COMPETITION

FOLAWIYO ENTREPRENEURSHIP CENTRE MAIDEN BUSINESS IDEA COMPETITION

• By Admin
• COLLEGE
• Jun 1, 2025 01:55 pm

FOLAWIYO ENTREPRENEURSHIP CENTRE MAIDEN BUSINESS IDEA COMPETITION

Participant Guidelines and Selection Process

1. Objective:

This competition is designed to encourage and support innovative business ideas from staff and students of Yaba College of Technology. It offers a platform to showcase entrepreneurial creativity, receive mentorship, and win cash prizes to support your startup journey.

2. Eligibility Criteria:

• Must be a current staff or student of Yaba College of Technology.


• Must submit a unique and original business idea.


• Teams or individuals may apply (a team can have a maximum of 3 members).

3. Submission Guidelines:

Participants must:

• Submit a detailed proposal in either Word or PDF format.


• The proposal should clearly outline the business idea and cover the following:


• Title of the Business Idea


• Executive Summary


• Problem Statement


• Proposed Solution


• Target Market


• Business Model


• Competitive Advantage


• Financial Projections


• Implementation Plan


• Team Profile (if applicable)

Submission Deadline: 5th June, 2025

4. Selection Process:

Stage 1: Initial Screening

• All submitted proposals will be reviewed for completeness, relevance, and originality.


• Proposals that meet the basic requirements will move to the next stage.

Stage 2: Evaluation by Panel

• A panel of experienced judges will evaluate proposals based on: 


• Innovation and creativity (20%)


• Feasibility and sustainability (20%)


• Market potential and scalability (20%)


• Business model clarity (20%)


• Presentation and clarity of proposal (20%)

Stage 3: Pitch Presentation

• Shortlisted participants will be invited to pitch their idea in person or virtually.


• Each participant/team will have 5–10 minutes to present, followed by a Q&A session.

5. Prizes:

1. 1st Prize: NGN 200,000


2. 2nd Prize: NGN 150,000


3. 3rd Prize: NGN 100,000

All winners will also receive mentorship opportunities and possibly connections to funding or incubation.

6. Additional Notes:

• All ideas must be original. Plagiarism will lead to disqualification.


• Ensure the proposal is clearly written and professionally formatted.


• Late submissions will not be considered.


• Participation certificates will be issued to all shortlisted candidates.

Contact:

For inquiries or assistance, please contact:

Email: fecyct@yabatech.edu.ng

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