You are here: Nigerian Scholars » Top YouWIN Frequently Asked Questions – Resolve Your Confusions

Top YouWIN Frequently Asked Questions – Resolve Your Confusions



What is YouWiN? YouWiN stands for Youth Enterprise with Innovation in Nigeria. It is an innovative business plan competition aimed at job creation jobs by encouraging and supporting aspiring entrepreneurial youth in Nigeria to develop and execute business ideas. Who can apply? Every Nigerian aged 18-45 years that wants to start a business or expand ... Continue Reading

What is YouWiN?

YouWiN stands for Youth Enterprise with Innovation in Nigeria. It is an innovative business plan competition aimed at job creation jobs by encouraging and supporting aspiring entrepreneurial youth in Nigeria to develop and execute business ideas.

Who can apply?

Every Nigerian aged 18-45 years that wants to start a business or expand their existing business.

What types of business can apply?

The competition is open to all types of businesses as long it is viable and has a demonstrable capacity to create jobs.

Must I be registered with CAC to apply?

For existing businesses, you must be registered with CAC. For new business ideas, you do not have to be registered with CAC. However, sponsors of new businesses that win awards in this competition will be required to register fully with CAC prior to receiving any award funds.

My business is a partnership, how many applications can I submit?

The number of application is limited to one per person.

Can I change my business idea if I have already submitted an application?

No. It is advisable that you think through your application before you submit.

Is there a limit to how many business ideas I can submit?

You can only submit one business idea.

Is there an application fee for You Win?

Registration is free.

How do I know if I am selected?

You will be notified once you register. If you are selected, you will also be notified of the next steps.

I submitted a good business idea and I was not selected

The panel will decide the winners. However applicants who submitted good proposals that did not win awards may receive other support from the project.

How much money can I apply for?

Award recipients will receive between 1,000,000.00 (One million Naira only), and  N10,000,000.00 (ten million Naira only), depending on their business needs.

Do I have to pay back the money?

No.. You are to use the money to start and or grow your business and employ Nigerian youth.

How will my business be funded?

You will be paid by installments based on pre-agreed project targets and employment creation over a one year period.

How long will this program last?

The program will run for three consecutive years.

Since this is an equity grant from the government, does the government own a part of my business?

No. The grant is government’s contribution to your business. It remains your own fully.

How safe are my ideas?

Your ideas are safe. Everybody that has access to  applications has signed a non disclosure agreement. It is also safe from potential internet hackers as the website is secured with the best internet security.

I do not live in Nigeria, can I participate?

Yes. You can participate as long as you are a Nigerian and the business is located in Nigeria.

I was asked to refine some sections of my business plan and I have done so, when will my award ceiling and disbursement schedule be sent to me?

The Enterprise Development Center (EDC) will evaluate your submissions and determine the award ceiling for your business.

When will I receive my Tranche 1 funds? I have opened an account and submitted my CAC documents to the Secretariat.

The Secretariat prepares the disbursement schedule for approval by the Federal Ministry of Finance in Batches – as awardees become ready.

My Tranche 1 amount will not be enough to purchase any machinery or rent an office, what do I do?

The Tranche 1 funds are to set-up business activities such as securing licenses (e. g NAFDAC, Ministry of Education etc) where applicable. Tranche 2 is more substantial and can be used for capital expenditure.

When will the Tranche 2 funds be paid?

Tranche 2 will be processed and paid after recommendation for disbursement has been confirmed by monitors.

I cannot meet the turnover and employ the number of people expected in my disbursement schedule, what do I do about this?

Monitors will review your business plan and agree together with you, the minimum milestones that should be achieved by your business based on your business plan and award amount during the 1st monitoring visit.

Who should I talk to about making some modifications to my business plan?

Your monitor.

When will a monitor visit me?

As soon as an Awardee makes the request.

I am unable to continue my business in my present location (Region/state), can I move to another Region/state?

You need to contact the secretariat to discuss why and where you are moving. This may or may not be approved.

When will the next round application begin?

Date will be announced in the dailies and on the website.

How can I contact the secretariat?

You can contact the secretariat from 9:00am to 4:00pm Monday to Friday.

What is the time commitment expected of the mentors?

At least 1 hour a month (per mentee).

How many mentees will they need to mentor at the same times?

Between 1-5 mentees (Flexible)

How long is the mentoring program?

1 year

How often do they need to meet with the mentees?

At least once every month (or as deemed necessary)

Can mentoring be done remotely/virtually either by phone, Skype or email?

No, face –to –face is preferred.

Is there a mentoring handbook /guidelines for both mentors and mentees?

We have a hand book for mentors and consent forms for mentees.

Who is responsible for initiating and maintaining the relationship?

YouWiN secretariat.

What is the purpose of the mentoring program?

To guide awardees i.e. a “experience or knowledge pool” into which awardees can tap, in running their businesses

See more updates from:

Subscribe for email newsletters to get updates sent directly to your email address.

Leave Your Comment

Scholars You May Like

Daniel Ihenetu

Passionate about doing something no matt ...

Desmond Ogio

Am Desmond fienme ogio by name, am from ...