Home / Business / GEJ launches $50m Venture Capital Fund – YouWin

GEJ launches $50m Venture Capital Fund – YouWin

In his longing to make more occupations for Nigerians and extend the economy, President Goodluck Jonathan dispatched a $50million Venture Capital Fund known as the Youwin Small and Medium Enterprise Fund.

 The store was dispatched alongside the fourth round of the Youth Enterprise With Innovation in Nigeria (Youwin) program and is relied upon to make extra 1500 business visionaries.
Speaking at the occasion held at the State House Banquet Hall, President Goodluck Jonathan said the new venture store will empower the individuals who have won past stipends from the Youwin system to take their organizations to the following level. The store needs seed capital of about $50 million and will oblige diligent shot at the side of government. The president included if government buckles down it can pull in more speculators to help progressing endeavors.

“This fund will identify and further empower a few of you, some who are here and some new people that will join us, that are interested in expanding what they already have through the You Win or even starting new businesses,” he said.

The President further noted that the new reserve will be overseen by free store chiefs close by the legislature and “you won’t have to know some individual to get to it.” He said the trust which will recognize and put resources into a couple of endeavors, will be very focused as choice will be entirely on legitimacy.

He applauded the Minister of Finance and Coordinating Minister of the Economy Dr Ngozi Okonjo Iweala has effectively facilitated three clumps of the Youwin program. From accessible records, the first and second version of the Youwin made 22,000 occupations.
“Hopefully when the disbursement of the third phase commences and by the time the fourth phase takes off, we are expecting a minimum of 44,000 jobs created by young Nigerians for young Nigerians,” the president said. 18,000 who did not straightforwardly profit from the plan were prepared and had the capacity access reserve from distinctive sources

Talking earlier, the Minister of Finance revealed that distributions for the third period of the Program will begin right away. She said the three year old system made Nigerians focused on the value of their marketable strategies. Another thousand five hundred ambitious people will be upheld with gifts between one million and ten million naira to empower them enhance or run their organizations and extend and make occupations.

Youwin commenced in 2011 as an entrepreneurial plan intended for business people matured somewhere around 18 and 45 years. It has a target of making many employments by helping champs to fortify and grow existing organizations and additionally transform creative thoughts into robust organizations. As asked for by President Jonathan, the second round of the system was completely committed to ladies keeping in mind the end goal to make them against furious rivalry from men.

 

 

 

 

 

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