The Directorate of Entrepreneurship (DoE) at Godfrey Okoye University is proud to announce a landmark investment: the allocation of ₦7 million in revolving seed capital to empower 140 dynamic student business groups under our highly successful Student Training for Entrepreneurial Promotion – Sustainability (STEP-S) program.
This significant financial boost reaffirms our strategic commitment to training job creators, not just job seekers.
Fostering Impact-Driven, Sustainable Ventures
The seed fund provides essential startup capital, ensuring innovative ideas move quickly from concept to market. Crucially, the STEP-S model is designed for global responsibility:
- SDG Integration: Each group of five students must align their venture with a primary Sustainable Development Goal (SDG), specifically focusing on generating Decent Work (SDG 8) and driving Responsible Consumption (SDG 12).
- Triple Bottom Line: As the Director of the DoE, Mr. Christopher Uwakwe, encouraged: our beneficiaries are challenged to develop businesses that are inherently People, Planet, and Profit-oriented.
A Proven, High-Fidelity Training Model
Our program’s structure is unique in West Africa and built for long-term impact:
- Financial Sustainability: We require groups to repay only the seed capital, retaining all profits for business growth. This ensures the fund is perpetually recycled for future cohorts.
- Demonstrated Reliability: Since its launch in 2018, the STEP-S initiative has achieved an exceptional over 95% loan repayment rate, a powerful testament to the reliability and commitment of our student entrepreneurs.
- Beyond Skills: While students gain practical skills in marketing, registration, and opportunity identification, the program intentionally promotes group dynamism, tolerance, and teamwork—the soft skills essential for building enduring partnerships.
Director Uwakwe noted: “We are not interested in their profit. What matters is the return of the seed capital so that others can benefit. They should be motivated by the legacy they are leaving for future students.”
The Future is Now: Investment and Expansion
This successful allocation solidifies our role as a regional leader. GOUNI remains the only university in West Africa to adopt this model, a framework now being studied by over 250 universities across Nigeria.
- Accountability: We maintain rigorous standards, conducting thorough business forensics in the rare instance of business failure to uphold the program’s financial integrity.
- Incubation and Growth: Many past ventures continue to thrive and are poised to evolve into official GOUNI Alumni companies, supported by our Business Incubation Center.
- Get Involved: We urge staff members to start their own businesses or join us as trainers to strengthen our entrepreneurial ecosystem.
We invite the academic community and potential investors to our forthcoming Town and Gown event on December 4, 2025, where this cohort will showcase their innovative ideas.
