Federal Government Helping Young School Leavers To Start Business Early Through TIES – Apply Today

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Overview

The Federal Government is helping young school leavers with economic ideas to start early by providing loan/grant through The Tertiary Institutions Entrepreneurship Scheme (TIES), on this page we will be helping you with details on how you can access this funds. (Note that the fund is free on application)

The Central Bank of Nigeria, as part of its effort to boost economic growth and reduce unemployment among graduates of Nigeria Polytechnics and Universities, introduced the Tertiary Institutions Entrepreneurship Scheme. The Scheme is designed to create a paradigm shift among undergraduates and graduates from the pursuit of white collar jobs to a culture of entrepreneurship geared towards job creation, economic growth and sustainable development.

The Central Bank of Nigeria(CBN) therefore developed the Tertiary Institutions Entrepreneurship Scheme (TIES), in partnership with the academia( Universities and Polytechnics) to unleash the potential of the Nigeria graduate entrepreneurs (gradpreneurs) by providing re-orientation, training and an innovative financing model that will enhance the entrepreneurial ecosystem with transformational impact on the economy.

Objectives

The broad objective of the Scheme is to enhance access to finance by undergraduates and graduates of polytechnics and universities in Nigeria with innovative entrepreneurial and technological ideas. Other specific objectives of the Scheme include:

  1. Provide an enabling environment for co-creation, mentorship and development of entrepreneurial and technological innovations for value creation in partnership with Nigerian polytechnics and universities for the purpose of economic development and job creation;
  2. Fast track ideation, creation and acceleration of a culture of innovation-driven entrepreneurship skills among graduates of polytechnics and universities in Nigeria;
  3. Promote gender balance in entrepreneurship development through capacity development and improved access to finance;
  4. Leapfrog entrepreneurial capacity of undergraduates and graduates for entrepreneurship and economic development in partnership with academia and industry practitioners; and
  5. Boost contribution of non-oil sector to the nation’s GDP.

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Eligible Activities (Areas of Business)

The activities to be covered under the Scheme shall include innovative start-ups and budding businesses owned by graduates of Nigerian polytechnics and universities in the following areas:

  1. Agribusiness – production, processing, storage and logistics;
  2. Information technology – application/software development, business process outsourcing, robotics, data management;
  3. Creative industry – entertainment, artwork, publishing, culinary/event management, fashion, photography, beauty/cosmetics;
  4. Science and technology – medical innovation, robotics, ticketing

Click Here To Proceed To Application Page

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