Modupe Gbadeyanka
By Modupe Gbadeyanka
An extra $25,000 in grant funding has been secured by an entrepreneurial support organisation based in Nigeria, Savvy, for the training of the next generation of impact-driven entrepreneurs as a way to reduce global unemployment.
This is the second grant the startup is getting this year as it earlier received $15,000 from the Roddenberry Foundation through its Catalyst Award.
It was gathered that the latest funding was taken based on the fact that the firm is one of the 10 winners of the Global South COVID-19 Digital Innovation Challenge organised by the International Telecommunication Union (ITU) and the United Nations Office for South-South Cooperation (UNOSSC).
The Head of Fellowship Program at Savvy, Mr Chidi Nwaogu, explained that the new grant will be used “to further make good on our mission to train the next generation of impact-driven entrepreneurs as a way to reduce global unemployment that has been broadened by the COVID-19 pandemic.”
Global South COVID-19 Digital Innovation Challenge sought to identify scalable, innovative, digital solutions that will enable countries, societies, communities, institutions, and individuals from the Global South to deal with the cascading effects of the pandemic.
“Aside from the new funding, my team will receive mentorship and training support from ITU, and that’s what I most look forward to,” Mr Nwaogu stated.
Savvy was founded to help at least 10,000 young professionals around the world transition into entrepreneurship, equip them with the relevant knowledge and skills to become successful entrepreneurs, as a way to reduce global unemployment thanks to the COVID-19 pandemic.
So far, the program has trained over 4,800 individuals in 143 countries, who have gone on to start over 1,000 impact-driven businesses across diverse sectors in different regions. The Savvy program consists of three components—the learning, assessment, and mentorship sessions.
For 12 weeks, selected participants learn how to start, build, and scale an impact venture. Using visual presentations, Savvy helps them answer all the relevant questions on their mind. They learn how to gain early traction, achieve product-market fit, and scale into newer markets.
While learning, Savvy participants are offered mentorship as well, which is a great way for them to have a better understanding of their chosen industry. Mentorship comes in two ways: peer-to-peer mentorship and expert mentorship.
