United States (US) digital marketing firm AIS Media has announced the launch of The Amazon Project, a 13-week television show that will invest NGN10 million (US$32,000) in Nigerian startups.
The Amazon Project will begin in the first quarter of this year, and will see Nigerian entrepreneurs compete for seed capital and business incubation.
Applications are now open for the programme, with selected startups to pitch their ideas in front of a panel of judges including Phillips Consulting chairman Foluso Phillips and Numeris Media Group founder Anne Agbakoba.
“The Amazon Project will offer about NGN10 million in seed capital and business incubation support to 10 winners who are able to demonstrate their superior abilities as entrepreneurs to a diverse panel of carefully selected judges and ultimately, the viewing audience,” AIS said.
Wole Faroun, who is running the project, said doing business in Nigeria in a recession was like wading through the Amazon rainforest, “where only the toughest and smartest survive”.
“This project will reward entrepreneurs that can prove they have what it takes to make it in Nigeria by applying innovation and smart economics to meeting needs and solving complex business problems,” he said.