The Osun State University, has empowered 16 alumni of the institution with sum of N200,000 each for start-up business.

While disbursing the fund which is the first of its kind in public institution in Nigeria to the beneficiaries, at the Olagunsoye Oyinlola Auditorium, Main Campus in Osogbo, the institution said its initial plan was to empower 50 members of the alumni who qualified for the money.

Chairman of the Start-up Fund Committee, Prof Dayo Akintayo in his opening remark said that the committee received 18 applicants but selected 16 who have a good proposal.

“We have fund for the 50 people and the money is in the bank. We are still expecting about 34 or more applicants.

While speaking, the Vice Chancellor of the institution, Prof Laboode Popoola asserted that 21.7 million Nigerians that are currently unemployed, Graduates and postgraduates combined are about 2.9 million of the total.

He said, “the Government is currently working very hard to reduce this unemployment but the Government cannot do it alone, and this is why we are complementing the efforts of the government at reducing the unemployment rate in the country through the creation of a start-up funds for our Alumni with bankable proposals to kick-start their dream businesses and become employers of labour.

“As a student-friendly University, we follow up with our graduands and one of the results of our follow-up gave birth to the creation of this start-up fund scheme for the Alumni. This means that we are not only graduating our students but we are also working with them to achieve their dreams by supporting the ones that want to go into entrepreneurship but are having financial set-backs with funds and training to stand on their feet.

“I am so glad to see the first set of the beneficiaries of the start-up fund scheme today and as our guest speakers would be sharing insights on business branding, the making of successful entrepreneurs and how to efficiently manage your income and expenditure as an entrepreneur, I implore you to carefully implement the key take-away from this programme and I believe you shall have big testimonies when next we meet.

According to him, the fund may appear small, but “it is a mustard seed. It can, and should shape your future for the better.”

He implored the alumni who are yet to take advantage of this opportunity to act fast and be part of this big dream.

Speaking with journalists, some of the beneficiaries of the Start-up fund, Adeniji Oluwadaresimi and Oluwasanufumni Oyewole who graduated in 2017, in their separate interview expressed joy saying the funds will boost their business and take it to another level.

They described the fund as important that will boost their business and change their lives for better.