JBC Annual Youth Innovation Challenge, 2024.
Catalysing Innovative Solution to Socio-Economic Issues
About the Competition
The Jericho Businessmen Club (JBC), a network of professionals of Ibadan descent, is proud to announce JBC Annual Innovative Challenge, comprehensive initiative to foster innovation, support young entrepreneurs, and drive economic development in the Region. This competition is designed to inspire and empower young innovators to showcase their creativity and problem-solving skills. Our goal is to encourage the next generation of leaders to think outside the box and come up with innovative solutions to real-world problems. By participating in this challenge, you will have the opportunity to gain valuable experience, network with industry professionals, and win exciting prizes. Join us in this journey of innovation and make a difference in the world!
Objectives of the Competition
The primary objectives of the competition include:
Promote innovation among students and young entrepreneurs Support promising startups annually
Provide comprehensive business development support and mentorship, Invest in local startups and innovative solutions. Foster collaboration between academia, industry, and government.
Create a network of successful young entrepreneurs who will contribute to economic development of the Southwest Region and address socio-economic challenges and promote sustainable development in the Region
By participating, young innovators gain valuable experience and exposure to real- world challenges, thereby equipping them with essential tools for future success
Structure of the Challenge
The Challenge is structured in multiple phases. Each phase is designed to guide participants through innovation process.
Application Submission Phase
Finalists Selection Phase
Pitch Day & Prize Grants giving
Incubation Phase (6 Months)
Demo Day & Graduation
Alumni Support (Ongoing)
Eligibility and Selection Criteria
Participants
- i. Students from all tertiary institutions in the Southwest Region of Nigeria
- ii. Entrepreneurs based in the Southwest Region of Nigeria
Innovation Focus Areas
- Innovative solutions related to power generation, clean energy, renewable energy, energy conservation, rural electricity, and clean cooking technologies
- Submissions will be evaluated based on creativity, feasibility and impact. Judges will look for innovative ideas that are practical and sustainable.
Benefits for Participants
Grant Prize
1
1st Place
N2.5 Million
2
2nd Place
N1.5 Million
3
3rd Place
N1.0 Million
The top three participants will be admitted into a Startup Incubation Schemes.
Participants will gain networking opportunities, access to mentorship and potential funding for their projects. Engaging in this competition not only enhances their skills but also opens doors to future career prospects and collaborations in various fields.
Sponsors And Partners
Important Dates
Stay updated with the important dates of the Youth Innovation Challenge.
September 1st - 30th, 2024
November 15, 2024
Application Submission Phase
Submit your innovative ideas on or before September 30th, 2024.
Finalist Selection
Finalists will be selected on November 15, 2024.
About JBC
The Jericho Businessmen Club (JBC) is a non-partisan association of businessmen, professionals, and technocrats of Ibadan origin, dedicated to economic development and influencing public policy for the benefit of Oyo State and Nigeria. Established in 2000 and formally launched in 2002 by a pioneering group of Ibadan indigenes, JBC now boasts a membership of over 160 accomplished and emerging leaders. Our members include reputable businessmen, entrepreneurs, and senior professionals across various sectors of the Nigerian economy and the diaspora. united by a shared commitment to civic responsibility, we actively contribute to societal development. Over the past 23 years, JBC has initiated numerous impactful projects in Ibadan, including scholarship awards, construction of motorized water boreholes for schools, and the refurbishment, upgrade, and maintenance of primary healthcare and maternity centers. Additionally, we have implemented a revolving micro-credit scheme and other community empowerment programs. We firmly believe that sustained interaction and collaboration between the government and civic-minded organizations like JBC are essential to achieving the rapid economic and socio-cultural progress we all aspire to see. The JBC Annual Youth Innovation Competition is a testament to the club’s commitment to fostering the next generation of leaders and entrepreneurs. By investing in young innovators, the club aims to ignite creativity and entrepreneurial spirit among the youth, recognizing that fresh perspectives and innovative ideas are crucial for driving economic growth and societal progress.