Nigeria faces a serious challenge. On one hand the country has been labelled the largest economy in Africa and one of the fastest growing markets globally, with an abundant supply of natural resources and an enviable projected demographic dividend. Conversely, the country is plagued by extreme income inequality, high poverty rates and unemployment, poor access to basic health and social services and a low standard of living relative to its global (and even African) counterparts. Government efforts to address the socio-economic crisis have thus far been largely ineffective, and private sector intervention is crucial for the impact to be felt.
With a budget of N6,000,000 you are required to create a business plan for a social impact initiative – a business which is aimed at generating a measurable and beneficial impact in the Nigerian society and/or environment alongside a financial return.
In so doing, you are encouraged to select a specific geographical area, and problem within the community to tackle, and to propose a practical, workable business solution with social impact. Submissions will be judged largely on the basis of the depth of impact and viability of the proposed solution.
The YTA Challenge 2015 will run for a total period of 6 weeks. The competition comprises of 3 stages:
Sign up with your name and email address.
Submit a concept note of not more than 1500 words, summarizing your response to the challenge question. A maximum of 10 ideas will progress to the next stage.
The panel, consisting of highly placed individuals in various sectors of the private sector, reserves the right to choose the winners at their sole discretion. The panel also reserves the right to choose fewer than the predetermined number of winners if, in the panel’s discretion, an insufficient number of eligible entries are received. Incomplete entries and entries not complying with all rules are subject to disqualification. ARM reserves the right to change these terms at any time. The prizes for the winner of the competition is a scholarship for a postgraduate programme or developmental programme with a maximum value of N6 million, and a cash prize of N6 million for the implementation of the business plan. No prize or cash equivalents are offered. Both prizes are only valid for 24 months after which the organizers reserve the right to revoke the scholarship. The choice of developmental programme if selected by the winner has to be approved by ARM, and the Company will monitor the implementation of the business plan. Prizes are non-transferable. The winner is solely responsible for all applicable taxes related to the acceptance of the prizes.
Open to students currently enrolled in their penultimate or final year of study in a full-time course at any university or recognised tertiary institution, recent graduates that have concluded full-time study in the last year and past interns of Asset & Resource Management Company and its subsidiaries
Only one winner will be selected. The prizes are a Scholarship for Postgraduate Course/Development Programme and Cash Prize to implement the winning business idea. The scholarship covers tuition fees and living expenses necessary for the student to complete his/her degree. The winner will also receive a certificate.
TERMS AND CONDITIONS
All participation in the competition must be individual. Only one entry is accepted per participant.
Desired Skills and Experience
Fresh Graduates with excellent grades.