Three Entrepreneurs Win ₦10m In SMEDAN Pitch Competition

Three entrepreneurs have emerged victorious in the SMEDAN Pitch Competition, sharing a prize pool of ₦10 million.

During the recent MSME Conference 2024, a major platform for innovation and entrepreneurship in Nigeria, over 3,000 applicants showcased ideas aimed at addressing challenges faced by micro, small and medium-sized enterprises (MSMEs) in the country.

The competition, more than just a showcase of business ideas, provided participants with access to funding, mentorship, and valuable networking opportunities, designed to propel their ventures forward. After a competitive selection process, three exceptional entrepreneurs were awarded for their innovative solutions that hold the potential to transform their respective industries.

Taking the top spot and ₦5 million in prize money was Loom Chocolate, whose pioneering approach to the confectionery industry captured the judges’ attention. Its innovative solution promises to reshape the chocolate market, making it the well-deserved winner of the first-place award.

In second place was Negs Honey, which secured ₦3 million for its honey-based products. Negs Honey stood out not only for its unique packaging and product innovation but also for its dedication to empowering women in rural areas. The company’s business model is focused on supporting sustainable development while delivering quality products to the market.

Date Store NG took third place, winning ₦2 million for its work in offering healthier alternatives to sugar through date-based products. Its innovative value chain and diverse range of date-related products impressed the panel, demonstrating significant potential to revolutionise the food industry.

The SMEDAN Pitch Competition has once again highlighted the creativity and resilience of Nigerian entrepreneurs, showing that the country’s SMEs are capable of driving economic growth and fostering community development. The winners’ innovative solutions have the power to bring lasting change to their industries and beyond.

The MSME Conference 2024, and its successful Pitch Competition, serves as a testament to the potential of Nigerian entrepreneurs and their role in shaping a prosperous future.