Two pilot businesses run by students on campus were launched on March 25.
ENT 201 students will run the businesses throughout the spring semester to gain experience.
ENT 201 is the code name for Entrepreneurship Field Experience. The course instructor, Dr. Lukman Raimi, said the course is designed to offer students pragmatic knowledge on how to run a business. Each of the two teams was given $10,000 startup capital.
The Coordinator of AUN Entrepreneurship program said the class activity started with 49 Individual Business Concepts (IBCs), which were systematically integrated into eight group business concepts (GBCs) within two weeks.
“After a rigorous process of screening, sifting and idea fortification, two integrated group businesses finally emerged.”
The CEO of Beta-Ink Ventures, Todimu Sola-Idowu, explained that their business offers services and products aimed at ‘improving the student experience on campus’. This includes printing services, bicycle riding, and sales of snacks.
“We offer affordable and accessible printing services as well as scanning and photocopy services.”
The CEO of The Zone, Anyietie-nte-abasi Etim, says their business is offering gaming services. “We’ve also got a hookah, music, and a really fancy sit-out.”
He added that based on their survey, they were able to find out which services students would prefer the most.
Both CEOs have publicized their products and services through multiple channels, including bulk emails to students and by social media.
Dr. Hassan Yusuf who represented the Dean of SBE, Dr. Attahir Yusuf, formally opened the businesses. He challenged students to see the venture as an opportunity to bring to practice concepts learnt in entrepreneurship courses which they have taken.
He encouraged leaders of the businesses to carry every member of their team along. Not only did he tell the students to work hard so that they are successful in the enterprise, but he also gave them a target. He said that in the last semester, one of the student businesses, Cash & Ride, made a thirty one percent return on investment.
“Any board will applaud this achievement. Our hope is that you people are going to surpass their record. We are going to give you the necessary support.”
Reported by Omorogbe Omorogiuwa