Focused on providing support to passionate entrepreneurs and helping them navigate through the business world, Savvy Fellowship has secured $25,000 in grant funding, its second grant this year.
The investment comes after Savvy Fellowship secured $15,000 in grant funding from The Roddenberry Foundation through its Catalyst Award earlier this year.
The current $25,000 fund was raised as a result of Savvy Fellowship being among the 10 winners of the Global South COVID-19 Digital Innovation Challenge organised by the International Telecommunication Union (ITU) and the United Nations Office for South-South Cooperation (UNOSSC).
In a Twitter post, Chidi Nwaogu, co-founder and head of Savvy Fellowship Programme, said the new grant will be used to further make good on the company’s mission to train the next generation of impact-driven entrepreneurs as a way to reduce global unemployment that has been broadened by the COVID-19 pandemic.
“Aside from the new funding, my team will receive mentorship and training support from ITU, and that’s what I most look forward to,” Chidi Nwaogu said.
Savvy Fellowship was founded to help at least 10,000 young professionals around the world transition into entrepreneurship, equip them with the relevant knowledge and skills to become successful entrepreneurs, as a way to reduce global unemployment thanks to the COVID-19 pandemic.
So far, the programme has trained over 4,800 individuals in 143 countries, who have gone on to start over 1,000 impact-driven businesses across diverse sectors in different regions.
Consisting of three components carried out virtually — learning, assessment, and mentorship sessions, the 12-week Savvy programme allows selected participants to learn how to start, build, and scale an impact venture.
Savvy helps them answer all the relevant questions intellectually using visual presentations. They learn how to gain early traction, achieve product-market fit, and scale into newer markets.
During the process, the participants are offered mentorship, helping them understand clearly the industry they seek to thrive in. The mentorship includes peer-to-peer mentorship and expert mentorship.