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  There is a call for applications for the Tertiary Institutions Entrepreneurship Scheme (TIES) Loan. The scheme is an initiative targeted at empowering graduates of Nigerian Polytechnics and Universities with entrepreneurial skills for Entrepreneurship Development, Economic Development, and Job creation.
Read more about Opportunities

Objectives Of The Scheme

The broad objective of the Scheme is to enhance access to finance by undergraduates and graduates of polytechnics and universities in Nigeria with innovative entrepreneurial and technological ideas. Other specific objectives of the Scheme include:
  1. Provide an enabling environment for co-creation, mentorship and development of entrepreneurial and technological innovations for value creation in partnership with Nigerian polytechnics and universities for the purpose of economic development and job creation;
  2. Fast track ideation, creation and acceleration of a culture of innovation-driven entrepreneurship skills among graduates of polytechnics and universities in Nigeria;
  3. Promote gender balance in entrepreneurship development through capacity development and improved access to finance;
  4. Leapfrog entrepreneurial capacity of undergraduates and graduates for entrepreneurship and economic development in partnership with academia and industry practitioners; and
  5. Boost contribution of the non-oil sector to the nation’s GDP.
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Eligible Applicants

The activities to be covered under the Scheme shall include innovative start-ups and budding businesses owned by graduates of Nigerian polytechnics and universities in the following areas:
  1. Agribusiness – production, processing, storage and logistics;
  2. Information technology – application/software development, business process outsourcing, robotics, data management;
  3. Creative industry – entertainment, artwork, publishing, culinary/event management, fashion, photography, beauty/cosmetics;
  4. Science and technology – medical innovation, robotics, ticketing.
NOTE: Trading activities shall not be eligible for financing under the Scheme.

Awards

The top 5 entrepreneurial pitches/ideas shall be awarded as follows:
  • First place – N150.0 million;
  • Second place – N120.0 million;
  • Third place – N100.0 million;
  • Fourth place – N80.0 million; and
  • Fifth place – N50.0 million.
Requirements for CBN Tertiary Institutions Entrepreneurship Scheme (TIES)
  • First-degree certificate (BSc/HND/ or its equivalent);
  • National Youth Service Certificate (NYSC) discharge or exemption certificate;
  • Certificate of Participation issued by polytechnics and universities evidencing entrepreneurship training; and
  • Not more than 7 years post-NYSC.
To apply, visit https://cbnties.com.ng/ DEADLINE: Not specified Featured Image Source: Businessday NG
Got a suggestion? Contact us: editor@connectnigeria.com
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This article was first published on 26th October 2021

chidiogo-akaelu

Chidiogo Shalom Akaelu holds a degree in English and Literary Studies, from the University of Nigeria. She is a freelance writer, editor and founder of Loana Press, a budding online publishing outlet.

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