Covenant University Alumni Association (CUALA) gears up to incubate their second cohort of startups selected via the Eagles Nest Challenge (ENC).
The ENC is a platform that seeks to support graduates of Covenant University in their entrepreneurial pursuit. Selected startups (founded by CU graduates) are offered equity-free funding as well as venture support.
ENC also serves as a funnel through which Eagles in business are harnessed into an ecosystem where they can give and get support. This initiative falls under the purview of the Covenant University Alumni Association (CUALA).
N.B: Covenant University (CU) is sometimes referred to as Hebron. While Graduates of CU are called Eagles.
Covenant University is reputed to be the first tertiary institution to introduce an entrepreneurship course into its curriculum, Entrepreneurial Development Studies (EDS). So, it makes sense that they will provide outside-school support for their graduates who decide to embark on the very entrepreneurship sold to them while in school.
For undergraduates, a community and co-working space has been set-up called Hebron Startup Lab—it brings together founders and executors to collaborate on solving pertinent problems in the society. In 2017, TechPoint referred to Hebron Startup Lab as "Nigeria’s first incubation hub in a tertiary institution". Members meet up regularly for workshops, AMAs, and speaker series intended to encourage the young innovators.
Meanwhile, CUALA has also recently launched the Eagles Hub, located at the heart of Lagos in Maryland.
Eagles Hub offers a shared workspace, which includes hot desks, dedicated offices, virtual memberships, and meeting rooms, as well as community for entrepreneurs and professionals. Although the space is targeted at Eagles, it is also open to the general public.
ENC is run by CUALA with support from Venture Hub Africa Services Limited (VHASL), through one of its initiatives—The Venture Launchpad which helps to jump-start early stage entrepreneurs by providing capacity building, incubation & acceleration services, and ecosystem support.
VHASL is the implementation partner of Eagles Nest Challenge
For the first edition of ENC, which held in 2018, seven startups were chosen across different sectors including education, health, and agriculture. And a total of three million naira was given as grant to the winners.
Although, the first edition happened with less fanfare and media attention, this second edition looks to spread the word about the programme, thereby, getting more quality applications and boosting the reach of startups in the programme.
Our tech and startup publication, benjamindada.com has been tapped to be the media partner for ENC 2020.
What to expect from ENC 2020 (the second edition)
The application process for this year's cohort has come to an end and all entries were screened based on five major criteria: compliance with the challenge guidelines, skillset of founding team members, creativity of solution, viability and potential for impact. This process produced 10 startups.
These 10 startups will be benefiting from a 12-week long virtual incubation program aimed at supporting them in refining their solutions and business models, while connecting them with critical inputs such as strategic partners, mentors, and workshops.
The selected startups will also be participating in a showcase event in June 2020, where they will pitch these solutions to prospective investors. CUALA will continue to provide support for the 10 startups until December 2020.
The ten selected startups for the Eagles Nest Challenge 2020 are:
- EtaGreenNigeria Ltd
- She Dares to Succeed
- TFS Cycles
- Reispar Technologies
- Battens Hub
- Refill Logistics
Update: Monday, 13th April, 2020. This article was updated to include the list of the ten selected startups.