Created and powered by Visionary Impact Netwox – a Nigerian social enterprise committed to socio-economic youth development, the “Fund Ya Hustle” contest was designed to promote and encourage the “Legit hustle” of the average Nigerian youth thriving against all odds.
Following the massive engagement experienced with the contest despite being the first of many “start-up grant” initiative of the social enterprise, the winner of the contest is set to be unveiled at a press event on the 4th of December in Lagos, amidst press men and project-affiliated personalities.
Driven by the need to help combat youth unemployment through the promotion of entrepreneurship, the concept and contest pattern was created to help contestants put their “hustle” in perspective as they filled the contest form.
“Based on interactions with several youth start-ups mostly – a personal hustle or a group effort, based on skills, talent or interest, I realized that the major challenge we faced as young entrepreneurs which led to eventual business failure, is the lack of a clear and precise business plan or road map due to poor research and access to informed consultancy.”
“Most of these hustle are driven by the basic need for survival, hence income generation is the main focus. There is no time-taken to review sustainability in terms of target market / industry analysis such as existing market size, competition, marketing and business branding. It might be a hustle but it is a seed with huge potential if not planted in the right soil will not yield efficiently and eventually wither, and with it goes the effort and resources invested” says Cynthia Asoegwu, Project Director – Visionary Impact Netwox
In review of the target audience engagement for the contest, the entries were predominantly male in comparison to female applications and featured entries from various industries such as agriculture, ICT and service based businesses.
Six entries were shortlisted, with the contest winner to be selected based on public votes via social media and will receive the cash prize of N100,000. Other finalists will benefit from business and marketing support to advance their individual hustle.
The 234Central Initiative – “Think Value, Think Solution” which outlines ways to gain economic empowerment and wealth creation in the technology age will be officially launched as well. For more inquiries and to attend the press event– call +234 – 81 – 309 – 77877 (Cynthia)