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US group, AIS Media plans N10m to grow SMEs in Nigeria

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A United States-based digital marketing agency, AIS Media has concluded arrangements to give out soft loans to budding entrepreneurs valued at N10m in seed capital.

The facility will be granted to 10 shortlisted business incubators through the inaugural season of The Amazon Project, a 13-week television production designed to select and invest in the brightest entrepreneurs and business ideas in Nigeria.

The project will be coming on terrestrial and satellite television towards the end of the first quarter of the year.

A statement from AIS said “The Amazon Project will offer about N10m in seed capital and business incubation support to 10 winners who are able to demonstrate their superior abilities as entrepreneurs to a diverse panel of carefully selected judges and ultimately, the viewing audience.”

“Participating judges in TAP are the Chairman of Phillips Consulting, Foluso Phillips; the Chief Executive Officer, Zappahire Events; Funke Bucknor; the Founder, Numeris Media Group, Anne Agbakoba; and the Chief Executive Officer, NetPlusDotCom, Wole Faroun. The show is expected to also feature a series of guest judges throughout the programme.

The Chief Executive Officer of the project, Mr. Wole Faroun, said, “Doing business in Nigeria in a recession is like wading through the famous Amazon rainforest where only the toughest and smartest survive.”

 “This project will reward entrepreneurs that can prove they have what it takes to make it in Nigeria by applying innovation and smart economics to meeting needs and solving complex business problems.”

Creative Anchor and Lead Producer of the Project, Mr. Segun Lawal, said, “The Amazon Project is ‘entrepretainment’ at its best. In this intense, reality TV show, business meets entertainment in a manner tailored to the Nigerian environment, and geared at promoting local industry and innovation.”

 “TAP is sponsored and supported by a leading telecommunications firm and a foremost commercial bank. Both institutions are ideal partners for this project, having demonstrated a strong commitment to supporting entrepreneurs and small businesses over the years.”

According to AIS Media, the show was expected to be produced by Ultima Studios, with episodes recorded at its studio complex in Lekki, Lagos.


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