The funds would help scale up Covenant’s Hebron Startup Lab (HSL) and KWASU’s Entrepreneurship Centre (EC) for the purpose of launching and developing Startup and Spin-off companies to solve problems, create wealth and generate employment opportunities.
Both the HSL and the EC are working together with the Centre for African Entrepreneurship and Leadership (CAEL), University of Wolverhampton, with CAEL as the leader of the project.
The project activities include: Exchange visits for Covenant and her UK partners, the equipping of a work space for students to use as they develop their Startups, and it will culminate in an exhibition to showcase the outputs.
EduCeleb.com gathered that the project will run in three 12-month phases with specified outcomes in each year.
These include; High-growth of entrepreneurs (student entrepreneurs) between September 2019 and April 2020, with 40-50% increase in enrolment of prospective entrepreneurs indicating a measure of success; Number of start-up and spinoff companies generated by April 2021 should be an average of 3 spinoffs quarterly; and Jobs created by the startup/spinoff companies by April 2022 should be an average of 5-10 employees per spinoff.
Also, based on the proposal, the project is expected to have impact in different ways such as enhancing students’ creativity and ability to set up their own business; Knowledge exchange and knowledge transfer in spin-offs; Commercialisation of intellectual assets and research outputs; Development of industry-tailored curriculum; and Deepen the relationship between CU and KWASU and create the incentive to initiate other forms of collaborations.