In line with its goal of supporting micro, small and medium enterprises (MSMEs) in Nigeria, ‘Biodun and Ibikunle Foundation opened applications for the first cycle of its 2021 SEEDINVEST Acceleration Grant on 8 February 2021. Application and voting ran for three weeks and closed on 28 February 2021.
From the initial applications received, twelve (12) businesses were shortlisted for a review session that held virtually on March 13, 2021. A second shortlist of seven (7) businesses was drawn at the end of the first review session. The seven businesses had a second review session on March 20, 2021, this was also an online session. From these seven, five (5) finalists were selected and invited to a breakfast dialogue session that took place at Radisson Blu Hotel, Ikeja, on 27 March 2021.
Five (5) businesses were announced as beneficiaries of the Cycle One 2021 SEEDINVEST Acceleration Grant on 28 March 2021. The winning businesses are:
- Winner: Tersly Foods – Won asset support of One Million Naira (N1,000,000).
- 1st Runner Up: The Lightning Artz – Won asset support of Six Hundred Thousand Naira (N600,000).
- 2nd Runner Up: Posh Excite Meals Limited – Won asset support of Four Hundred Thousand Naira (N400,000).
- 3rd Runner Up: R&G Knitwear – Won asset support of Three Hundred Thousand Naira (N300,000).
- 4th Runner Up: Sumadenike Clothings – Won asset support of Two Hundred Thousand Naira (N200,000).
Congratulations to each beneficiary. We look forward to doing this one more time this year.