Diamond Bank Plc has rewarded five budding entrepreneurs with N3 million each at its just concluded Building Entrepreneurs Today (BET) Season 5. The winners are: Uchechi Arinze, Folarinyo Abiodun , Ayodeji Agboola , Emmauel Okiedesan and Hauwa Bello.
The BET is a collaboration between Diamond Bank and Enterprise Development Centre of the Pan Atlantic University, which started about five years ago.
Speaking at the presentation ceremony, Mr. Uzoma Dozie, CEO/GMD, Diamond Bank, stated that BET has been supported by the bank for the past five years, remarking that each year it has become more and more exciting with diverse innovative ideas emerging.
He added that Diamond Bank recognised that the business environment in Nigeria was a tough one and needed lots of commitment for one to succeed, hence the bank’s support for small businesses in a bid to ensure they grow against all odds.
“We had over 500,000 applications that were pruned to the final 15 after several screenings and this is just to show how creative Nigerians are. We decided to support small businesses because we know how difficult the business environment is,” Dozie said.
Also speaking, Mr. Peter Bamkole, the Director, EDC, stated that it was another milestone that has been attained by the bank because it means a new set of five winners will be joining the other 20 winners, not forgetting the 50 entrepreneurs who were engaged in six months of intensive training.
“A lot of banks screamed about supporting small businesses but none plays like the way Diamond Bank does. And BET is one of the many ways they ensure they support small businesses and that goes a long way in helping these entrepreneurs achieve their goals,” he said.
The night was filled with excitement and anxiety as 15 finalists waited anxiously to hear the names of the top five winners at the Wheat Baker Hotel, Ikoyi, Lagos State. Unlike the previous BET 4 edition that focused on three sectors of the economy, the Season 5 added fashion alongside agriculture, information and communications technology and renewable energy.
One of the winners, Okiedesan said he was amazed to have won because he was lucky to be a part of the final 15 but his first final presentation was a disaster. However he was able to pull himself together at the second session. He also thanked Diamond Bank and EDC for giving him and others the opportunity to learn and interact.
Earlier, Ubong Effiong, a BET Season one winner, had told the audience that “BET goes beyond the money won but the knowledge gained and most importantly the relationship formed in the academy.”
To be a part of the next season of BET, a prospective candidate must have an existing business that has been in operation for at least three months prior to the application date. The applications will then be reviewed by a panel of judges based on a predetermined set of criteria after which successful candidates will be invited for an interview session.
At the end of the initial screening, 50 shortlisted candidates will undergo a six months training with the EDC, after which the top 15 will be selected for a second phase of top-flight advisory services where they will be required to present their business models. At the end of the process, the five participants who are adjudged to have the best plans will be given a grant of N3 million (three million naira) each by Diamond Bank Plc to support their businesses.
