A technology company, FunZ, has announced a N25 million entrepreneurship competition for young Nigerians to showcase their problem-solving skills and innovative thinking in order to earn money. The competition coincided with the launch of an app designed for event ticketing. This platform serves as a hub for event organizers and attendees, allowing organizers to post upcoming events and attendees to purchase tickets through the same app.
The founder and CEO of FunZ, Nate Ikechi, explained that the entrepreneurship contest aims to support Nigerian youths with business ideas but lacking the capital to start their ventures. The competition is open to individuals aged 18 to 40, requiring a nominal registration fee of N100, with a grand prize of N25 million. Initially, 100,000 participants will be onboarded, with a subsequent selection process through voting to narrow down to 16 finalists.
The FunZ app features an advanced fintech solution for secure payments and real-time transactions, ensuring a smooth ticket purchasing experience. Ikechi highlighted the app’s user-friendly interface and unique features during a live demonstration, emphasizing its simplicity and efficiency.
During the event, keynote speaker Eddy Lawani commended the innovation of the app, noting its potential to streamline processes in the event and entertainment industry. He emphasized the importance of staying ahead of technological advancements to address challenges such as trust issues, internet disruptions, security risks, and cyber threats associated with e-ticketing systems. Lawani stressed the need for continuous innovation to combat potential threats and ensure the app’s security and reliability.