Students enrolled in the Entrepreneurship Field Experience course (ENT 201) are set to implement their business ideas for the Fall 2017 semester.
ENT 201 is one of two currently compulsory entrepreneurship courses at AUN.
From five initial business proposals, two emerged as viable businesses to be run on the AUN campus by two student teams. The two on-campus businesses that emerged through a voting process were Ink IT! and Cyberia.
Ink IT! will offer a range of customized merchandise such as shirts, hats, phone cases, and mugs; Cyberia will strive to meet a high demand for a range of convenient printing and related services.
At the first board meeting with the students this semester, faculty mentor Dr. Ferdinand Che, described the “rigorous, practical, and engaging process” that the students went through to arrive at the two businesses for the semester.
The board comprises faculty members, particularly, from the School of Business & Entrepreneurship, selected members of the university administration, and entrepreneurs from the local Yola community.
Dr. Che said the students have worked extremely hard over the past two weeks to generate a pool of business ideas. “Then they evaluated, refined those ideas, and whittled them down from 32 to 10 and then, subsequently to five viable business opportunities. The five remaining opportunities were then rigorously evaluated by the team of students.”
During the September 11 board meeting, the two teams presented the details of their businesses. The board also listened to pitches from students who were running for positions of the Chief Executive Officer for each of the two businesses.
Two students, with the strongest pitches were elected CEOs. Mr. Abdulmumini Modu, a senior student majoring in Computer Science, was elected as the CEO of Ink IT! Mr. Daniel Attah, a senior student majoring in Petroleum Engineering, was elected CEO of Cyberia.
Both businesses are expected to be operational within the next two weeks, supported by a generous $5,000 seed capital from the University to facilitate their takeoff.
Dr. Che explained that the two teams will receive coaching and mentoring throughout the course of the business to improve their success rate, since any profits generated from the ventures are ploughed back into a fund reserved to support similar student ventures. Previous on-campus businesses arising from ENT 201 include ShieldTek Insurance, Boost Logistics, Tropical Café, and Genie Loans.
By Omorogbe Omorogiuwa