Open call for applications – Tertiary Institutions Entrepreneurship Scheme An initiative targeted at empowering graduates of Nigerian Polytechnics and Universities with entrepreneurial skills for Entrepreneurship development, Economic development and Job creation.
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The Central Bank of Nigeria, as part of its effort to boost economic growth and reduce unemployment among graduates of Nigeria Polytechnics and Universities, introduced the Tertiary Institutions Entrepreneurship Scheme. The Scheme is designed to create a paradigm shift among undergraduates and graduates from the pursuit of white collar jobs to a culture of entrepreneurship geared towards job creation, economic growth and sustainable development.
The Central Bank of Nigeria(CBN) therefore developed the Tertiary Institutions Entrepreneurship Scheme (TIES), in partnership with the academia( Universities and Polytechnics) to unleash the potential of the Nigeria graduate entrepreneurs (gradpreneurs) by providing re-orientation, training and an innovative financing model that will enhance the entrepreneurial ecosystem with transformational impact on the economy.
The broad objective of the Scheme is to enhance access to finance by undergraduates and graduates of polytechnics and universities in Nigeria with innovative entrepreneurial and technological ideas. Other specific objectives of the Scheme include:
A comprehensive monitoring of specific benchmarks and key performance indicators (KPIs) under the Scheme shall be undertaken regularly. The KPIs (specific and relevant) shall include:
The activities to be covered under the Scheme shall include innovative start-ups and budding businesses owned by graduates of Nigerian polytechnics and universities in the following areas:
NOTE: Trading activities shall not be eligible for financing under the Scheme.
The Scheme shall be implemented through three (3) components:
Term Loans
This shall be in the form of soft business loans. Only graduates of Nigerian polytechnics and universities that have undergone entrepreneurship training shall be eligible to participate under this Component.
The group shall apply as a business entity registered with the Corporate Affairs Commission (CAC) and certified true copies (CTC) of relevant forms submitted.
Interested applicants should Visit the Official Website for Further Details to apply.
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