In line with its commitment to localization and building skills for Nigerian talent, General Electric (GE) was the headline sponsor for the Universities Entrepreneurship Competition 2016 held earlier this weekat the Enterprise Development Centre of the Lagos Business School. This event was part of the key events marking the Global Entrepreneurship Week (GEW) in Nigeria.
The conference, organized by Accelerated Learning Systems, is an undergraduate entrepreneurship competition aimed at supporting higher institutions in Nigeria by developing a learning platform which will sustainably equip students with the required knowledge, skills and behavior to effectively support their transition into the labor market. Replicating the reality of the business world through business simulations tools, this learning program will employ a technologically enhanced approach to prepare students with life skills for the world of business.
Speaking on GE’s sponsorship of the conference, Director of Communications & Public Affairs, GE Africa, Patricia Obozuwa said “GE is proud to be associated with the Universities Entrepreneurship Challenge, an initiative that is equipping young Nigerian undergraduates with the critical skills essential to surviving in the corporate world. This initiative is very much aligned with our corporate social responsibility platform, GE Kujenga which empowers people by building valuable skills, equips communities with new tools and technology, and elevates innovative ideas that help solve Africa’s challenges“ she added.
Over the course of 3 weeks, 175 Students from 20 Nigerian Universities, worked in teams of 5 as managers of a virtually simulated company on their campuses, making critical business decisions necessary for their company’s successful performance. The simulation brings together the different components of running a business; enabling participants learn ‘hands-on’ how all the areas of business are connected.
The top 5 teams presented their business cases at the conference to a panel of judges made up leaders from corporate Nigeria with the team from The University of Lagos emerging as the winner of the competition.
GE (NYSE: GE) is the world’s Digital Industrial Company, transforming the industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the “GE Store,” through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry.