Entrepreneurs to win $20,000 seed funding at mentor matchup challenge 4.0
Entrepreneurs will get a chance to pitch their businesses to investors, seed-funding of up to $20,000 and the top 3 finalists will have an express enrolment into the 2022 Unicorn Incubation Programme powered by Platform Capital at the Mentor Matchup Challenge 4.0.
Top winner will go home with up to $10,000.
The Mentor Matchup Challenge event, an initiative of 234finance.com, is set to bridge the practical knowledge gap between successful entrepreneurs and the younger generation of entrepreneurs.
This year’s edition which is in partnership with BlackCopper and Platform Capital will be taking place at the Lagos Oriental Hotel on the 6th of December 2021.
The event features panel discussions, intimate mentoring sessions and multiple networking opportunities, which allow entrepreneurs in attendance to discuss niggling business challenges with mentors who are thought leaders in their respective industries.
The objectives of the Mentor Matchup Challenge include financing small businesses with seed funding, equipping young entrepreneurs with presentation skills, aiding critical thinking skills as well as business focus and giving upcoming entrepreneurs insights on how to run their startups.
Other objectives of Challenge is to create networking opportunities for entrepreneurs in attendance and prepare entrepreneurs for important conversations that could transform their businesses
The event will focus on 5 strategic sectors of the economy including agriculture, fashion and beauty, E-Commerce, artisans & manufacturing, FMCGs and traders.
Winners from the Mentor Matchup Challenge 3.0 were exposed to seasoned investors, received mentorship from thought leaders, had their businesses evaluated by Merristem Capital and were given access to legal services for one year.
In 2018, two entrepreneurs won seed funding of $2500 each at the Mentor Matchup Challenge 2.0 and. You can watch videos from the MMC2.0 event on the 234Finance YouTube channel.
According to Ejiro Jakpa, founder of Nicnax Granola, “Winning the Mentor Matchup Challenge has helped in terms of understanding my figures. This came in handy when negotiating with potential investors.” With the $2500, Ejiro has invested in new equipment, moved to a bigger factory and added peanut butter and oat flour to her product line.
According to Favour Olugu, founder of Ekete Lifestyle, “One of the most important things that came with winning was access to seasoned business people who have been pivotal in my business’ success.” With the $2500, Favour has extended her product line and moved production from her house to a new factory space.
The selection criteria for entrepreneurs participating in MMC4.0 include creativity and innovation, market potential, traction, social impact and personal investment.
Entrepreneurs can apply by making a one-minute video pitch on the three problems $10,000 would solve in their business and share on Instagram using the hashtags #MentorMatchupChallenge4 and #MMC4.