FGN-ALAT Digital Skillnovation Program for MSME : Are you a Job seeker and ambitious professional in search of opportunities to boost your career or change your path?
If YES Then, I will like to introduce you to the FGN-ALAT Digital Skillnovation Program For MSME 2023.
The FGN-ALAT Digital Skillnovation Program For MSME 2023 to provide financial support, Internship opportunities, career prospects and connections with top-tier mentors world wide.
If you are a Nigerian tech enthusiasts, aspiring entrepreneurs, small business owners, job seekers or a working professionals, don’t want to miss this lifetime opportunity please continue reading to get requirements and how to apply for FGN-ALAT Digital Skillnovation Program For MSME 2023 below.
Benefits of the FGN-ALAT Digital Skillnovation Program For MSME 2023.
1. Training program benefits: We train and connect participants with mentors who have traversed similar paths, offering insights relevant to their individual journeys. Through regular interactions, feedback sessions, and peer-to-peer learning, our mentees gain invaluable insights, perspectives, and strategies that can drive their ventures or careers forward.
2. Business Incubation Program benefits: We Nurture business idea or a seed-stage startup/SME to a full-fledged enterprise requires more than just skills; it demands the right environment, support, and resources.
Our incubation hubs ensure startups and SMEs have the foundation they need to scale and thrive in today’s competitive market.
3. Access to Market Benefits: Leveraging Wema Bank’s extensive network and the collaborative partnerships formed through this program, participants gain unparalleled access to potential clients, investors, and key industry stakeholders. Furthermore, through exclusive events, showcases, trade fairs, exhibitions and market linkage initiatives, we ensure that participants not only learn the ropes but also get the golden opportunity to present their solutions and services to the right audience, maximizing their potential for growth and success in the real-world marketplace.
4. Grants And Loans: The FGN-ALAT Digital Skillnovation Program provides a unique opportunity for participants to access grants and loans. But these aren’t just funds; they’re a vote of confidence, an endorsement of the entrepreneurial spirit. The grants are designed to alleviate some of the initial financial burdens startups and SMEs face, allowing them to focus on innovation, scaling, and making a meaningful impact in their respective sectors.
ELIGIBILITY CRITERIA FOR ANGEL INVESTMENT AND VC FUNDING.
- BUSINESS TYPE: Open to technology-enabled businesses in all sectors of the economy, but priority will be given to businesses in agriculture, retail, housing and property, clean solutions, transportation and logistics, data and infrastructure, privacy and security, and energy innovation
- BUSINESS STAGE: Only businesses at the seed stage and early stage will be considered
- GEOGRAPHIC MARKET: Nigeria
- MAXIMUM TICKET SIZE PER BUSINESS: $100,000
- MAXIMUM VALUATION: $2 million post-investment valuation cap
- VENTURE SCALABILITY AND TEAM: The business should demonstrate a scalable solution and possess a team that showcases strong potential, commitment, and dedication
- ETHICAL AND LEGAL STANCE: Businesses should align with ethical standards and have no legal constraints or controversies
Participants who meet these criteria stand a higher chance of being connected to angel investment and VC funding opportunities.
THE ELIGIBILITY CRITERIA FOR GRANTS
- SECTOR FOCUS: Open to tech-enabled businesses in any sector of the economy, with the priority sectors being agriculture, retail, housing and property, clean solutions, transportation and logistics, data and infrastructure, privacy and security, and energy innovation
- GRANT AMOUNT: Applicants can get up to N500,000 in grants
- DEVELOPMENT STAGE: The business should be in its early stages, showing promise for scalability and impact
- OPERATIONAL MARKETS: $100,000
- MAXIMUM VALUATION: The business must be operational in Nigeria and its product or service must be targeted at the Nigerian market
- TEAM ASSESSMENT: There should be evidence of a strong, committed team behind the business, possessing the potential to execute the business idea and plan effectively
- ETHICAL AND LEGAL STANDARDS: Businesses must adhere to high ethical standards and comply with relevant legal regulations in their operations
Participants who meet these criteria stand a higher chance of being connected to grant opportunities. However, please note that there will be a transparent and competitive process to determine the beneficiaries.
THE ELIGIBILITY CRITERIA FOR LOANS
- SECTOR FOCUS: Open to tech-enabled businesses in trade and commerce, healthcare, education, agriculture, and clean energy
- LOAN REQUIREMENT: Applicants can get loans of up to N5 million
- BUSINESS STAGE: The business should be in its early to mid-stage, demonstrating some track record and potential for growth
- OPERATIONAL MARKETS: The business must be based in or primarily serve the Nigerian market
- REPAYMENT CAPACITY: Evidence of a stable revenue stream or a solid business plan projecting the ability to repay the loan within the stipulated time
- CREDIT HISTORY: A satisfactory credit history or, for newer businesses, a personal credit check of the founders may be required
- COLLATERAL OR GUARANTEES: Depending on the loan size and terms, some form of collateral or personal guarantees might be required
- ETHICAL AND LEGAL STANDARDS: Businesses must operate with integrity, adhering to the relevant laws and regulations of their industry and region
Application Procedure for FGN-ALAT Digital Skillnovation Program 2023
1. Check Eligibility: Ensure that you meet the eligibility criteria for the program. The specific requirements may vary, so it’s essential to check the official website of the FGN-ALAT Digital Skillnovation Program for the most up-to-date information. Typically, MSMEs are the primary target, but there may be additional criteria like business size, location, and industry focus.
2. Prepare Necessary Documents: Gather all the required documents and information that will be needed during the application process.
3. Visit the Program Website: Go to the official website of the FGN-ALAT Digital Skillnovation Program to access the application portal and get detailed information about the application process, requirements, and important dates. Make sure to read all instructions carefully.
5. Complete the Application Form: Fill out the application form with accurate and up-to-date information. Be concise but clear in your responses. You may need to provide information about your business, its current digital capabilities, and how you plan to leverage the program to enhance your digital skills.
6. Upload Required Documents: Attach the necessary documents as specified in the application form. Ensure that these documents are in the required format (PDF, JPEG, etc.), and are legible.
7. Review and Submit: Double-check all the information you’ve provided and the documents you’ve uploaded. Ensure that everything is accurate and complete. Once you are satisfied, submit your application.
8. Wait for Confirmation: After submitting your application, you will typically receive a confirmation email or notification acknowledging your submission. Keep this confirmation for your records.
9. Await Selection Results: The program organizers will review all applications and select participants based on their eligibility and the quality of their applications. Be patient while waiting for the selection results, and check your email or the program website for updates.
10. Participate in the Program: If your application is accepted, you will receive further instructions on how to participate in the FGN-ALAT Digital Skillnovation Program. Attend all the required training sessions, workshops, or activities as per the program’s schedule.
Conclusion.
Remember that the FGN-ALAT Digital Skillnovation Program for MSMEs is designed to support your business’s growth and digital transformation, so take full advantage of the opportunities it offers. Stay engaged, learn, and apply the digital skills you acquire to improve your business’s operations and competitiveness in the digital economy.