‘Bosun Tijani, co-founder and CEO of Lagos-based incubator and accelerator, Co-creation Hub (CcHUB), has announced the launch of an initiative to support “extremely unlikely entrepreneurs” through grants.
Called Seed40, the initiative is aimed at identifying and investing in micro-enterprises through an informal network of mentors.
Mentors are required to pitch an entrepreneur who runs a micro-enterprise  in their locality in a short video, mentioning how they intend to help them grow and how far the initiative’s grant will go in their business.
Once the application is completed  and the video shared, an assessment is done to determine if the business qualifies to get a grant (not investment) of ₦100,000. One micro-enterprise will receive grants per month.
The initiative is majorly centred around the mentors, as they are required to be available to support short-listed businesses. Also, they must provide updates on the progress of the businesses.
Interested in this initiative? You can nominate an entrepreneur in your locality right away. Applications can be submitted at anytime during 2017 as all applications will be carried over every month for consideration.
 A microenterprise by definition is a business operating on a very small scale and in few cases supported by microcredit. For context, “a fried yam” or “roasted plantain” seller will qualify for Seed40.
 This must be completed by a mentor on behalf of an entrepreneur. Applications made directly by an entrepreneur will not be considered.