FAQ

FAME PROJECT

Project Overview

Folorunso Awomolo Mentorship and Entrepreneurship Project (FAME Project) was conceived by Mofolorunso Awomolo Foundation to contribute to job creation in Nigeria by supporting Ijesa youth startups/ entrepreneurs through rigorous business training, business plan competitions, grants, and mentorships. The FAME Project is projected to extend beyond Ilesa in the nearest future.

The project was born out of the passion of the founder: Pa Folorunso Awomolo. Pa Awomolo was an Ijesa patriot, an icon of humility par excellence, and a symbol of excellence in service to humanity and God; and he sought to achieve the following through MAF: 

  • The resurgence and growth of youth entrepreneurship in Ilesa;
  • Return Ilesa to being a bedrock for the growth of private sector and contributing to the economy of Osun State and Nigeria; and
  • Support the upliftment of potential entrepreneurs among Ijesa youths for the growth of Ilesa’s economy, and contributing to Osun State and Nigeria’s economy;

FAME project aims at creating a culture of entrepreneurship in young people in Ijesaland through capacity building and grant support, by:

  • developing business skills through training;
  • providing grants as start-up capital (new businesses); or
  • providing grants to support expansion of existing businesses; and
  • providing mentoring support for the beneficiaries

Applications for FAME project starts in March 2025, and only Ilesa  indigenous youth entrepreneurs (experienced, up and coming) who are resident and operating their business in Ilesa  are eligible to apply

PROJECT GRANT SIZE
  • In principle, only business proposals that require a total (initial or expansion) capital of a minimum of N250,000; and a maximum of N3,000,000 will be considered;
  • FAME Project reserves the right to accept projects that fall outside these guidelines if other features of the project are particularly exceptional. This will be determined at the sole discretion of the FAME project secretariat.
PROJECT ELIGIBILITY CRITERIAL
  1. Legally permissible businesses in accordance with Nigeria laws are allowed to participate in FAME Project.
  2. The business must be registered with Corporate Affairs Commission.
  3. The would-be beneficiary owner of the businesses shall possess the following minimum criteria, which include:
  4. Must be an Ilesa indigenous youth of between 18 years old to 35 years old (proof of evidence required);
  5. Must possess a minimum of secondary education. post-secondary qualification is an advantage (proof of evidence required);
  • Understand the culture, language and ready to reside and operate business in Ilesa (proof of evidence required); and
  1. Must have at-least a business knowledge/skill that requires funding support to start;
  2. Must be ready to run the business on a fulltime basis;
  3. Two or more qualified applicants may form a joint venture to apply.
  4. FAME Project will fund business proposals with preferences in:
  5. Agro and Food Processing;
  6. Manufacturing;
  • Hospitality and Creative Services,
  1. Basic Education

Technology based or backed initiatives

STAGES OF IMPLEMENTATION
  1. Recruitment & Selection: This is the stage of Targeted Quality Driven Selection. This involves call for applications, and evaluation of applications at which the best qualifying top 30 applications are selected;
  2. Entrepreneurship Development Training: This is the stage of providing a minimum of 5 days Boot-camp of Relevant, Impactful Training on Entrepreneurship and Business Management to the top 30 candidates. Trainees are to submit business plans based on their individual business interest;
  3. Assessment & Adjudication of Business Plans: This is the stage of Transparent Assessment & Adjudication Process. This involves Merit Based Beneficiary Selection, Pre-screening, Assessment and recommendation of suitable business concepts as submitted by the applicants;
  4. Due Diligence & Procurement: This is the stage of Business needs based assessment. It involves background checks, verification of claims, aligning the funding request with reality, identifying capacity needs assessment, presentation of winning businesses to MAF and purchase of grant materials;
  5. Awards & Memorial Lecture: This is the stage of Stakeholder Engagement Platform at which keynote address on the subject that promotes youth entrepreneurship is delivered by a leader of repute in Nigeria; and public presentation of awards winning businesses to top 10 winners;
  6. Post Investment Support & Alumni: This is the stage of Sustainable Support & Engagement. It is a year Incubation for mentorship support, guidance, and growth plan strategy development. This stage will subsequently lead to the formation of FAME Alumni.
APPLY HERE

Fame Project 1.0