President Jonathan yesterday in Abuja launched the $50
million Venture Capital Fund also known as the YouWin! Small and Medium
Enterprise, SME,-Growth Fund. He launched the fund alongside the 4th round of
the Youth Enterprise with Innovation in Nigeria (YouWin) program.
He said the new enterprise fund would enable those who won
previous grants from the YouWin programme to take their businesses to the next
level. The 4th edition is expected to support additional 1,500 entrepreneurs
along with the SME-Growth fund, which is a private equity fund for
entrepreneurs.
A total of 22,000
jobs had been created by the first and second editions. He inspected an
exhibition by beneficiaries of the program and expressed happiness over the
quality of products which he said were of international standard.
The fourth edition is expected to raise the total number of
jobs to 44,000 as another 1,500 entrepreneurs would be supported with grants of
between N1 million and N10 million to enable them to improve or run their
businesses, expand them and create jobs.
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