Godfrey Okoye University Gives ₦7 Million Startup Fund To 140 Student Ventures

By ANITA KNIGHT

GODFREY Okoye University, Enugu, has disbursed ₦7 million in seed capital to 140 student business groups under its STEP-S entrepreneurship programme. Each group of five students received funding to develop ventures aligned with key Sustainable Development Goals, including decent work and responsible production.

Director of Entrepreneurship, Christopher Uwakwe, said the funds serve as startup capital, with groups required to return only the seed money while retaining profits for growth. He noted the programme has maintained a 95% repayment rate since 2018 and encourages innovation, teamwork and sustainability-focused business ideas.

Uwakwe warned that the directorate conducts business forensics in cases of non-performance or missing funds, stressing that entrepreneurship requires accountability. He added that many past beneficiaries have continued their ventures, some evolving into alumni companies.

The university will hold a Town and Gown event on 4 December to showcase student projects and attract potential investors. Uwakwe urged staff to engage more actively in the programme, noting that Godfrey Okoye University is the only institution in West Africa currently implementing the STEP-S model, with hundreds of other universities seeking to adopt it.