Three winners have emerged in an online competition organised by Infinite Impact Limited, the Idea Portfolio Management Company. The winners were presented with cash awards in Lagos recently by the organisers.
The first prize winner, Azode Vincent, got a cash prize of N60, 000 and a certificate, while the second winner, Andrew Dave Babre and the third winner, Olabisi Osho Odewale, also got prize awards, but they were not present to pick up their cash.
Addressing newsmen at the prize presentation ceremony in Lagos, Chief Innovation Strategist at Infinite Impact Limited, Mr. David Messan, said the purpose of the competition was to develop great ideas among people that could address basic needs of Nigerians and Nigeria.
According to him, the online competition attracted several entries, and participants were asked to describe their ideas in just twenty words.
According to Messan, criteria for the selection of winners were based on strength and reliability of the idea, functionality of the idea, and the relevance of the idea in addressing basic needs of Nigerians and Nigeria.
The whole essence is to develop great ideas in people, make them innovative, and turn the ideas into viable business that is sustainable, Messan said.
Chief Idea Strategist at Infinite Impact, Koko Ombu, while giving further details of how Infinite Impact wants to develop innovative ideas among Nigerians, said : "Infinite Impact is ideas portfolio management firm delivering innovative services utilising two approaches; ideas for small and medium enterprises (SMEs) growth which focuses on a host of inclusive business services such as idea development, research, planning, strategy, branding, marketing, funding and infrastructure; and an Idea bank solely aimed at concretised power ideas in the area of independent business, market stimulation, brand activation and social innovation serving as a support system to SME growth.
“We have serviced established institutions and corporations that include the Lagos State Public Staff Development Centre, Ekocorps Plc, Gab Lotto and numerous start-ups with outstanding results, supporting potentially viable ideas in securing over N50 million in funding to kick-start their budding enterprises,” Ombu said.
Infinite Impact launched the very first edition of the Idea Challenge, a 20-word idea description competition designed to support innovative ideas get a head start to becoming a reality.
The online competition comes with cash prize winnings of up to N60,000 or a Blackberry Q5 and an Idea funding opportunity of up to $60,000 for the first and second prize winners and a concept business plan for the third.
“This was carried out to help idea-carriers embrace the vital need to create viable business plans before venturing into the marketplace. The 20-word idea demanded participants to state their ideas, its key activity, target market, strategy and scalability,” Messan said.
With the multitudinous opportunities and challenges for Africa’s economic landscape, coupled with an estimated $400 billion worth of consumer market in Africa in the next seven years, according to statistics released by World Bank early this year, it has become imperative that methods be continuously devised to expose the populace to this impending boom, Messan said.
Trend List, a concept of ideas portfolio management company, Infinite Impact Limited, highlights trending personalities, services, products, brands, ideas and innovations in industries and sectors by popular demand garnered via online and offline surveys on an annual basis. "Trend List allows individuals, companies and institutions connect to the possibility of ideas for success in the year ahead as it is our belief that ideas spurn around people, events, products, services and life," Messan added.
"These concepts will be made available to the public, institutions, corporations, non-governmental organisation, government ministries and agencies at no charge on the 13th of December via links on our facebook page accessed through our website www.wesellideas247.com," he said.