Start-Up Centre

"Many small people, in many small places, do many small things, that can alter the face of the world.”

– African proverb

The Start-up Centre will focus on validating business ideas and advising graduates of the university, the training centre and other local start-ups on financing options and on how to build successful and sustainable businesses all while creating jobs and add value to the local economy.

The Start-up Centre will also provide a network and access to information to European SMEs and cooperate with the existing Umuchinemere Procredit Micro Finance Bank Ltd (UPMFB) to support further business developments.

Micro-finance Bank

Ther Umuchinemere Procredit Micro Finance Bank Nigeria Limited (UP-MFB) was founded in 1995 by the catholic church of Enugu. They currently staff 80 full-time employees and 30 assistants. There is one main branch and 12 branch offices (C.R.Os). The Godfrey Okoye University is a 10 % shareholder.

Goals
  • Strengthen capital in the form of a capital contribution and a credit line from ESME Start-up GmbH
  • As part of the capital increase of UP-MFB, ESME Start-up GmbH should also have a say in the matter (rights to design the financing programs and instruments)
  • Profits from the microfinance division will be used to equip the start-up fund in the future

Start-up Fund

In planning: The fund makes venture capital (risk capital) available to founders for growth - the aim is to use the capital invested to generate a profit on sale. It will support the capitalization of young companies with innovative ideas and above-average growth and profit opportunities, which can present a detailed business plan and convince with their entrepreneurial skills (ticket size of at least 5,000 euros)

Process
  • An initial allocation to the start-up fund is planned by ESME Start-up GmbH
  • Profits from the start-up fund are reinvested in the start-up fund

 

STEP Program for students and Graduates

The STEP (Studen Training for Entrepreneurial Promotion) aims to equip students with an entrepreneurial and innovative skillset to successfully found a and run companies in a competitive environment.

Initiated in 2018 at godfrey okoye university

The STEP program for graduates and students aims to

  • Promote creative and innovative skills
  • Provide training on how to identify good business opportunities
  • Provide training on how to use available resources in the environment to develop good business ideas
  • Provide training on how to find start-up capital for the company in the financial market
Already delivering success stories
  • The start-up capital is mostly used for business activities in the university environment or for the marketing of products via online platforms
  • With starting capital of USD 100, profits of up to USD 2600 were achieved
  • Establishing a practical reference to the business administration theory learned at the university
  • Students make themselves financially independent from their parents
  • Graduates become self-employed and create jobs for others as part of their company

This initiative shall be further extended as part of the ESME Start-Up Centre based on European standards.

Sustainability & Vision

Providing sustainable livelihoods for the Nigerian youth through education and employment opportunities, while keeping the value added in the country and hence preventing irregular migration.

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Business Park

Creating an eco-friendly self-sustaining park with access to water, electricity and sanitation for companies, students and residents to support economic and social development.

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Education

Training the youth in market-oriented skills together with the local university and European SMEs to meet the needs of the market for a skilled and certified labour force.

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