Nigerian Economic Summit begins at the Transcorp Hilton

The Nigerian Economic Summit Startup Pitch Competition began on Sunday at the Transcorp Hilton Hotel in Abuja.

Speaking at the event, Abubakar Suleiman, CEO Sterling bank said money was not always the common denominator for a successful business; create a business that can be tested in value and viability as some budinessses with money have in the past also failed.

The competition which got about 2,000 entries from entrepreneurs and businesses across Nigeria was scrutinised and the 10 Start-Ups Pitching finalists were given an opportunity to pitch their ingenious ideas to potential investors.

The winner of the NESG Start Up Pitch will receive 5 million naira in addition to mentorship and legal services. Second and third place will receive 3 million naira and 2 million naira, respectively.

Also, for the first time in the three years of the #NESGStartUpPitch, there will be an Audience Choice winner that will receive 1 million naira.

At the end of the first phase of the event which held on Sunday, the last three finalists were Doctoora Health, a medical consultancy and services company driven heavily by IT, tiny hearts hq which treats children affected by jaundice, and LoystarApp, an IT based solution helping integrate businesses run on social media platforms like whatsapp and instagram, helping generate invoices directly from such accounts.

The final winners would be announced on Tuesday