Application Deadline: 24th August, 2017
According to the National Bureau of Statistics (NBS), Nigeria, out of a total Youth labour force of 38.2 million (representing 48.7% of total labour force in Nigeria of 78.48mn), a total of 15.2mn of them were either unemployed or underemployed in Q1 2016 representing a youth the unemployment rate of 42.24%.
This leaves employment rate high and having young people practically with no opportunities to participate in the markets; an irony in a predominantly youth nation.
Accelerate LABS will be activating the Small and Medium Scale Engine to accelerate economic development through enterprise development and technology incubation. The goal of this project is to equip 2,500 youths (Across the 6 geo zones in Nigeria) by building socially inclined, high profit, and highly competitive enterprise capable of impacting the GDP.
Accelerate Labs empowers youths to develop empathy, find clarity of purpose and the needed resource in form of Technology, training, knowledge, mentors and seed funding required for them to build socially responsible enterprises in their communities.
Each geo political zone would be represented by a host state that will serve as a hub to incubate these businesses. Accelerate Labs will be in three streams with each stream running for 3 months. Each stream will include 3 weeks training session, 4 weeks mentoring session, 3 weeks research and practice and a demo day for pitching of business ideas to prospective investors.
For More Information:
Visit the Official Webpage of the Accelerate LABS