In order to address the challenges posed by a high level of poverty and unemployment in the country, Trinitas Foundation is set to give out an investment fund of Twenty Million Naira (N20m) to ten startup ventures.
The charity foundation will empower selected young grassroots entrepreneurs across various fields including Technology, Agriculture, Small Scale Manufacturing, Entertainment & Media, Fashion, Beauty & Lifestyle and Food.
An annual startup pitch competition, the new initiative is known as ‘Trinitas Investment Programme’, which is a strategic approach to highlight one of the key missions of the foundation, which is to empower and foster opportunities and possibilities for emerging African ventures across the target six industries.
Speaking during the media launch, the founder and CEO of the foundation, Ade George said “This program is targeted at empowering ideators, the drivers of our economy. We are talking about people who have ideas and are willing to work hard, but lack the financial capital to bring that to life. Also, people have started but are struggling because they lack financial and technical support. We’re not just offering money, we’re offering technical support.”
Continuing, he revealed that the initiative, which is a brainchild of Trinitas Foundation was borne out of kindness “Over time what we’ve always done was go out, feed people, get them off the streets, provide accommodation and a means of livelihood for them. We do these with the support of friends and family without donations from the public. But we soon discovered that poverty is a state of mind and within a year of getting these people off the streets, they return there. That sort of defeated the whole purpose, so we decided to change our approach and this gave birth to the Trinitas Investment Programme.” he said.
George further re-iterated that the mission is “to empower African startups and business ideas with funding that will help them become employers of labour and contribute to the overall growth of Nigeria and the continent at large.”
To fulfil one of its primary goals targeted at women empowerment, six out of the ten recipients of the funding will be women