Trinitas Foundation creates N20m investment scheme to help scale small businesses
Trinitas Africa Foundation in its bid to empower and see Nigerian budding entrepreneurs grow and scale their businesses has created an investment scheme through the Trinitas Investment Programme (TIP) to invest N20 million in 10 startups in 2021 and grow the fund each year over 10 years.
“This year due to Covid, we decided as part of our growth strategy to promote better our works to support African ventures with opportunities through investment and business mentorship; hence the birth of our new initiative Trinitas Investment Programme,” said Adewole George, CEO/ founder, Trinitas Foundation, disclosing that the goal is to invest N20m for 2021 and more each year for the next decade in African businesses.
According to George, TIP aims to address the unique challenges due to an unprecedented level of poverty and unemployment to empower selected young grassroots entrepreneurs, using fair criteria and yardsticks.
He disclosed that entries for TIP are limited to fashion and beauty; technology; small-scale manufacturing; agriculture; food; media, entertainment and lifestyle sectors of the economy.
Tosin Ayodele, one of the trustees of the foundation said Trinitas Foundation that was founded in 2015 provides long term strategic empowerment to vulnerable women, food to the needy and robust educational support for children.
“We help individuals to empower themselves and our ultimate goal is to create a culture of safety, love and compassion for the most vulnerable in Africa,” he stated.
Application submissions for the programme, which opened on May 1, runs till 15 May, while successful applicants will go through a boot camp, business training and mentorship in collaboration with Access Bank and other partners, and seed capital of N2 million to each business.
Applications into the first stage of the Trinitas Investment programme (TIP) are open to young entrepreneurs across Lagos state and include new start-ups and existing businesses (of not more than 3 years).