Google’s Hustle Academy has awarded N75m to 15 small and medium-sized businesses in Nigeria.
This is as the total number of graduates from its Hustle Academy rose to 10,300.
In 2022, the firm graduated 5,000 entrepreneurs, in 2023, the number rose to 5,300. Speaking at the graduation ceremony held in Abuja recently, Google West Africa Country Director, Olumide Balogun, stated that the initiative aimed to provide a combination of financial assistance, mentorship, and business tool access to small businesses.
He noted that the programme, which was developed to tackle the unique obstacles, encountered by SMBs provided the business owners with strategic alliances and operational support. The country director further stated that since the program’s inception in 2022, more than 10,300 entrepreneurs have taken part, and the commencement ceremony signifies the programme’s prolonged influence.
Olumide said, “As an expanding community of businesses committed to ongoing development and learning, this year’s graduation builds upon the momentum established with last year’s 5,000 graduates.
“Alongside the graduation, 15 SMBs have been chosen to receive support from the N75m Hustle Academy Fund. This initiative aims to provide a combination of financial assistance, mentorship, and business tool access to some of the most promising Nigerian SMBs.
“The passion and resilience shown by these SMBs are truly inspiring. The Hustle Academy is a testament to what focused training and resources can achieve. We are not just celebrating their graduation today; we are recognising their potential to reshape and invigorate the Nigerian business landscape.”
According to him, the recipients represent various industries and demonstrate the creativity of Nigerian entrepreneurs to improving their business acumen and expertise.
He added, “Today, we’re excited to be announcing 15 recipients of our very first possible academic fund, as well as graduating the class of 2023 for the Google Hustle Academy. The passion and resilience shown by these SMBs are truly inspiring.
“The Hustle Academy is a testament to what focused training and resources can achieve. We are not just celebrating their graduation today; we are recognising their potential to reshape and invigorate the Nigerian business landscape.”
In his remarks, the Director-General of Small and Medium Enterprises Development Agency of Nigeria, Charles Odii, noted that the initiative was in line with the mandate of agency to boost job creation, poverty alleviation, livelihood enhancement, and rural industrialisation.
He explained, “Another one is a conditional grant scheme where we give money ranging from N50,000 to a lot of small businesses in the different localities where they operate, and that money is a grant, and it is to empower small businesses to run their operations. But it is on one condition that they can commit towards employing at least one person.
“So, imagine that we give that grant to hundreds of small businesses and the promise that they can employ one person, the multiplier effect is that we’ve created 200,000 jobs automatically. So these are some of the things that we do.”
Punch