Union Bank of Nigeria has provided support for its young entrepreneurs through the sponsorship of the RISE Business Challenge at the University of Lagos, Akoka, during the sixth Annual Youth Leadership Conference.

In a recent statement, the bank said the sponsorship was done under its Made In Naija initiative.

Dubbed Turning Point 6.0, the Resilience, Innovation, Social Responsibility, and Entrepreneurship Challenge is a collaboration between Union Bank and the conference convener, Mr Olusegun Odufuwa, to empower youth-led businesses with financial and mentorship support through a pitch competition.

Targeted at uplifting young men and women with requisite entrepreneurial skills, the event aligns with one of the Bank’s primary objectives of encouraging Made In Naija and the next generation of Nigerian innovators and business leaders, culminating in positive social impact and sustainable economic growth.

The competition also aims to identify and reward outstanding business ideas demonstrating viability, sustainability, and social impact.

This year’s RISE Challenge winners were chosen after a selection process involving participants sending their proposals to a team of judges and business experts to assess.

The final four selected competitors then pitched their ideas individually to a panel of judges, who chose the winners based on innovation, social impact, sustainability, and financial viability.

The first, second and third places received cash prizes of N1,000,000, N750,000, and N250,000, respectively.

During the event, the Head SME of Union Bank of Nigeria, Ayokunumi Abraham, said, “Union Bank is passionate about supporting Made In Naija and youth-led businesses to scale for sustainable growth.

“We believe this will not only boost and nurture upcoming enterprises but also create a positive ripple effect that will drive employment, innovation, economic opportunity, and access that will empower small and medium businesses across the length and breadth of the country.”

The RISE conference is a premier annual gathering designed to equip young leaders and entrepreneurs with the resilience, innovation, and social responsibility required to thrive in today’s fast-paced world. This year’s edition attracted diverse attendees, including young professionals, entrepreneurs, business executives, policymakers, and thought leaders.