Keystone Bank empowers 3 SMEs with N9m grant
In continuation of its commitment to tackling unemployment and encouraging entrepreneurs in Nigeria, Keystone Bank Limited has given three innovative Nigerian start-ups a N9 million grant.
A statement from the bank indicates that the initiative, which was in partnership with Kleos Advisory, began in January 2022 under its program called “Keystone Start-up Advantage” (KSA), a specialized incubator program offering offerings to meet the needs of start-ups. .
The retail lender revealed that the program offered 30 micro, small and medium-sized enterprises (MSMEs) and startups the opportunity to complete a three-month investor readiness program designed to have groups as well as mentoring and coaching sessions. individual.
“The platform has created an opportunity for innovative SMEs and tech start-ups to connect with potential investors, tech thought leaders and hear their success stories first-hand, vis-à-vis knowledge. and skills needed to accelerate their businesses to the next phase of growth.
“At the end of the incubation period, three successful participants each won a N3 million grant to support their business operations. The winners emerged during a ‘Demo Day’ held on Friday, August 5, 2022 at Keystone Bank’s head office in Lagos. At the event, participants pitched their business ideas to five judges for a chance to win the grant.
“The three SMEs/start-ups that won the grant are: XDC Manufacturing – Oluwatobi Oyetimein; Natal Cares – Uche Udekwe and Kahdsole Designs – Chioma Ukpabi,” he said.
Speaking at the demo day, the Division Manager, Retail, SME and Value Chain, Mr. Anayo Nwosu, said he was delighted that young Nigerian entrepreneurs are thinking outside the box to bring innovations and solutions to common problems in the country.
He added that all participants were winners because they all had innovative products and services for the market.
Nwosu further disclosed that the bank’s vision is to impact 200 startups per year and up to 1,000 startups over the next 5 years through the Keystone Start-up Advantage program.
“As you know, capacity building remains essential for the growth and development of SMEs, because SMEs in all regions of the world are the common thread of the economy.
“That is why, as a bank, we will continue to support the growth of the sector,” he said.
Keystone Bank is a technology and service driven commercial bank, providing convenient and reliable solutions to its customers.