Entrepreneurship

💼 Benson Nebo Foundation Entrepreneurship & Innovation Programme (BNF–EIP)

“Empowering Youth, Creating Opportunities, Inspiring a Better Enugu.”

🎯 Overview

The Benson Nebo Foundation Entrepreneurship & Innovation Programme (BNF–EIP) is a structured initiative designed to identify, train, mentor, and fund young entrepreneurs across Enugu State and the South East region.

Through a transparent and rigorous selection process, the Foundation ensures that the most deserving individuals receive the skills, guidance, and seed capital they need to build sustainable businesses that contribute to economic growth and community development.

The programme targets youths between 18–35 years with innovative business ideas or existing businesses (less than 5 years old) operating within the South East region.

🔑 Programme Phases

The BNF–EIP is implemented in six (6) key phases:

1. Application Phase

2. Screening & Verification Phase

3. Shortlisting Phase

4. Training & Mentorship Phase

5. Business Plan & Pitch Phase

6. Seed Capital Disbursement & Alumni Onboarding

🗂️ Phase 1: Application Phase

Every year, the Foundation opens its application portal on www.BensonNeboFoundation.org for aspiring entrepreneurs from 1st February to 31st March.

Applicants are required to register online and complete a detailed application form providing:

• Personal information

• Business idea or existing business details

• Evidence of identity and residence within the South East

• A brief business assessment form

Eligibility Criteria

To qualify, applicants must:

• Be 18 years or older.

• Be an indigene or resident of Enugu or any South East state.

• Have a business idea or an existing business not older than 5 years.

• Not have previously benefitted from any Benson Nebo Foundation funding programme.

• Submit a valid government-issued ID (NIN, voter’s card, driver’s licence, or international passport).

After successful submission, applicants receive an automatic acknowledgment email confirming receipt and eligibility status.

🔍 Phase 2: Screening & Verification Phase

All eligible applications are reviewed by independent experts in business development and enterprise evaluation.

The screening process includes:

1. Business Idea Review: Assesses innovation, feasibility, and sustainability.

2. Identity Verification: Confirms the authenticity of applicant information and location.

3. Compliance Check: Ensures ethical business practices and local regulatory compliance.

Applicants who meet all requirements are shortlisted for the next stage.

🏅 Phase 3: Shortlisting Phase

After verification, successful applicants are shortlisted based on:

• Feasibility: clarity and practicality of the business model.

• Market Opportunity: potential for local and regional growth.

• Financial Viability: cost structure, profitability, and funding needs.

• Innovation: originality and problem-solving capacity.

• Leadership Quality: entrepreneur’s motivation and community commitment.

A public announcement of shortlisted candidates will be made via the Foundation’s website and social media platforms.

📚 Phase 4: Training & Mentorship Phase

Shortlisted participants are enrolled into the BNF Entrepreneurship Academy, where they receive intensive 6-week hybrid training (online and physical).

Training Modules Include:

• Entrepreneurship & Business Fundamentals

• Financial Management & Bookkeeping

• Marketing & Branding Strategies

• Digital Skills & E-commerce

• Leadership & Team Building

• Social Impact & Community Development

Each participant is assigned a mentor from the Foundation’s network of business professionals and partners.
Mentors guide participants through strategy planning, market entry, and long-term growth.

💡 Phase 5: Business Plan & Pitch Phase

Participants develop a comprehensive business plan, financial projection, and a 2–3-minute pitch video demonstrating their business concept.

Submissions are evaluated by a panel of judges, including industry experts, entrepreneurs, and financial professionals.

Top-performing participants are rated Investment Ready and move on to the funding stage.

💰 Phase 6: Seed Capital Disbursement & Alumni Onboarding

Participants who complete the training and meet all funding requirements receive non-refundable seed capital grants from the Benson Nebo Foundation to launch or scale their businesses.

Required Documentation for Funding:

1. Valid government-issued ID.

2. Registered business certificate (CAC).

3. Evidence of tax registration (if applicable).

4. Business bank account details.

5. Mentor endorsement form.

Grant Amounts:

• ₦500,000 – ₦2,000,000 (depending on business type and viability).

Upon receiving the grant, beneficiaries are officially inducted into the BNF Entrepreneurs Alumni Network, gaining access to continued mentorship, partnership opportunities, and business promotion support.

🌟 Aims & Objectives of the BNF Entrepreneurship Programme

Aims:

To empower young people with the skills, knowledge, and financial support to start or grow their businesses, creating jobs and contributing to the economic development of Enugu and the South East region.

Objectives:

1. Develop Entrepreneurial Capacity: Equip youth with essential business and leadership skills.

2. Promote Financial Independence: Help young people build sustainable income-generating ventures.

3. Foster Innovation: Encourage creative problem-solving that addresses local needs.

4. Reduce Youth Unemployment: Channel the energy and creativity of young people toward productive enterprise.

5. Encourage Women’s Participation: Ensure inclusive participation of women and vulnerable groups.

6. Build Strong Business Networks: Create a community of young entrepreneurs who can collaborate and mentor others.

7. Enhance Local Economic Growth: Strengthen small businesses that contribute to Enugu’s development.

8. Support Sustainable Development Goals (SDGs): Especially SDG 1 (No Poverty), SDG 8 (Decent Work and Economic Growth), and SDG 9 (Industry, Innovation, and Infrastructure).

🏁 EXPECTED IMPACT

• Over 100 young entrepreneurs trained annually.

• Creation of 1,000+ jobs across Enugu and South East.

• Strengthened community resilience through entrepreneurship.

• Establishment of a BNF Alumni Business Network for ongoing collaboration and mentorship.

💬 Our Mission:

“Empowering Entrepreneurs Today, Building a Stronger Enugu Tomorrow.”