A technology firm, FunZ, has introduced a ₦25 million entrepreneurship challenge aimed at inspiring young Nigerians to develop innovative solutions while earning money.
Alongside the contest, the company has also launched a specialized event ticketing app designed to connect event organizers with fun-seekers. This platform allows organizers to list upcoming events while attendees can seamlessly purchase tickets.
Speaking about the initiative, FunZ’s Founder and CEO, Nate Ikechi, emphasized that the competition seeks to support young Nigerians with promising business ideas but lack the capital to bring them to life.
Open to Nigerians aged 18 to 40, the contest requires a registration fee of just ₦100, offering a grand prize of ₦25 million. Initially, 100,000 participants will be onboarded, with the number later refined to 16 finalists through a voting process.
Ikechi said, “It is a business game show for Nigerian youths between the ages of 18 to 40 who will be coming up with an exciting brand. You don’t necessarily need to have a business; what you need to have is a business idea that will resonate well, and you will be welcomed to our database. Registration started on March 4, 2025. And the cost to be part of this contest is just N100. We decided to make it such a dismissive amount considering the economic situation in the country.
“We are looking to onboard a 100,000 Nigerian youths and the first stage of screening will be through voting while the people with the highest votes just like Big Brother Naija show will continue to stay on the contest, and we are going to reduce that number to just 16 finalists who will be making it to the house just like the Big brother Naija. Later, the 16 participants will also be shared into groups, and the group with the biggest idea will win this contest.”
