NiBi Incubation Foundation is promoting Project T100NIBI as a pilot project to identify and select one hundred innovative ideas in conjunction with technical partners, mobilize finance from investors and provide offices, networks, business and technical expertise, coaching and mentoring for a period of two years in Abuja. This initiative will be replicated in other states and other African countries.
Eligibility Criteria for the Top 100 Nigerian Innovative Business Ideas Competition:
- An innovative idea is an idea that proffers a better way of doing something.
- A creative idea is an idea that creates something new of value
- A unique idea is an idea that is different. The idea stands out.
To qualify for Project T100NiBi:
- The business idea must be creative, innovative or unique
- The business will be run in Abuja
- The number of individuals coming up with the idea must not be more than three
- The individual/team should have done a preliminary research on the idea, its profitability, job creation potential, social and environmental impact.
- The Target Market should be easily identifiable.
- To identify 100 innovative business ideas in Nigeria and admit them as incubatees
- To equip the incubatees with adequate business skills
- To ensure the incubatees acquire requisite technical expertise
- To provide resources required for running the businesses
- To secure and leverage on strategic partnerships for the businesses
- To ensure the incubatees get technical and business experience
- 100 innovative business ideas will be incubated and developed into viable businesses.
- About 600 direct and 5,000 indirect jobs will be created in the pilot project through the 100 businesses and the technical partners.
- The success of the businesses will encourage more youths to consider entrepreneurship instead of white collar jobs.
- Flow of funds into small and medium scale businesses will be facilitated.
- The project will create network opportunities which will increase business openings.
- Poverty will reduce through wealth creation.
- Insecurity will reduce as more youths will be engaged through the jobs that will be created.
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