SIFAX Group, a conglomerate with investment in Maritime, Aviation, Haulage & Logistics, has said its sponsorship of The Next Titan TV Show is a demonstration of its resolve to stimulate youth entrepreneurship in the country.

Mr Olumuyiwa Akande, Head, Corporate Communications, SIFAX Group, disclosed this in a statement on Tuesday in Lagos.

Akande said that the show, which was in its 8th season, was a platform for young and creative entrepreneurs to pitch their business ideas to a panel of judges made up of distinguished and successful business owners.

He pointed out that the grand prize winner would go home with N15 million cash reward.

He said with the country’s huge youth population and the rising unemployment rate, there was need for collaborative efforts between government and the private sector to develop strategies to address this alarming trend.

“As a responsible corporate citizen, SIFAX Group is always interested in supporting worthy causes and programmes that address various social issues in the country.

“Nigeria is blessed with a huge youth population and if their potentials are not well harnessed and provided with the right environment to thrive, they can turn to a curse instead of a blessing.

“The Next Titan is a veritable platform that focuses on identifying and nurturing young and aspiring entrepreneurs and this objective aligns with our own philosophy of youth economic empowerment. That’s why we have been supporting the show since its inception,” he said.

Akande further expressed the satisfaction of the company at the giant strides the show has recorded over the years, with the winners and other participants recording giant strides in their business endeavours.

He added that many of them have also gone ahead to employ other young Nigerians.

On his own part, Mr Mide Kunle-Akinlaja, CEO, Bravopoints and Executive Producer of the show, said: “The importance of The Next Titan lies in igniting entrepreneurial spirit, and showcasing the possibility of entrepreneurship in transforming lives.”

He said that the show scouts for young talented people who have entrepreneurial acumens, grooming them through a rigorous task and boardroom process and eventually funding a winner’s idea, leading to an opportunity to create jobs for themselves and others.

“This is indeed a big contributor to the socio-economic development of Nigeria,” he said.

He further expressed his gratitude to SIFAX Group and other sponsors who had supported the programme over the years.

The show’s auditions would take place across six cities — Lagos, Abuja, Port Harcourt, Kano, Ibadan and Enugu.