ANGEL FUND INITIATIVE (AFI)
- What is it about?
The Angel fund Initiative Nigerian Society of Chemical Engineers Foundation is aimed at enhancing the entrepreneurial capacity of young chemical engineering graduates, in line with the mission of the Nigerian Society of Engineers which is to provide quality service aimed at enhancing professional competence and development of its members at all times’
The alarming number of graduates who leave School in Nigeria each year with no option of any gainful employment or nothing else to do following their National Youth Service has led to innovative programmes by Government, Corporate Organizations and Independent networks.
Strategic Objective: To provide startup funding for fresh graduates in Chemical Engineering who have bankable ideas.
What we offer?
The NSChEF Angel Fund is geared towards providing start-up capital for young chemical engineering graduates with bright ideas, as a way to foster entrepreneurship, create employment and advance the offering of the industry as a whole. This intervention seeks to provide a structured way of addressing this major gap. The angel fund based on its increasing impact serves as a good way to administer financial support for young chemical engineering graduates in Nigeria.
- Angels/Patrons of the Foundation
The Angel and Patron are individuals and corporation who through their subscription make committed investments which gives them access to sit at pitch sessions which attracts high quality entrepreneurs with great ideas. Angels make their own investment decisions and provide funding and mentorship directly to successful entrepreneurs. The BIC Secretariat sources entrepreneurial teams, facilitates Pitch sessions and monitors investments.
How much do Angels invest in a business?
In general, individual business angels will invest anywhere between N2m to N10m in a single venture, depending on the business and the growth needs. But this can be lower and occasionally much larger sums according to the disposable wealth of the individual and opportunity identified. Also with an increasing trend towards angels investing in groups and syndicates, larger amounts of finance above N50m can be raised by investors pooling their finance and also their business skills.
Nigeria Society of Chemical Engineers Foundation Angel Fund Initiative, Business Incubation Center
3A Continental Avenue, Ikosi GRA IV,
Off CMD Road, Ikosi, Ketu