Market Doctor, an innovative healthcare provider that sets up clinics around clustered markets in the country has emerged the overall winner of the inaugural edition of the grants competition organized during the Fidelity SME Funding event recently.
The organisation carted away the corresponding N2 million cash prize.
An initial 12 finalists emerged from more than 2,500 successful applicants who went through a rigorous and intensive selection process conducted by the renowned accounting and consultancy firm, PricewaterhouseCoopers (PwC).
The number was further cut down to 5 after another round of assessment and they were made to pitch to panel of judges during the SME Funding event. The independent judges led by Professor Yinka David-West of the Lagos Business School, pronounced Market Doctor winner, in consideration of the profitability, viability, and scalability of her business model. “We are thrilled to receive this grant by Fidelity Bank to scale our business and improve the wellbeing of Nigerians” said an elated Miss Yetunde Ayo-Oyalowo, Founder Market Doctor. She carted home the N2m cash prize . Healthy Nellies, a food production firm and Greenhill Recycling who emerged first and second runner up, respectively took home the sum of N1 million each. Other finalists include Adeyinka Tekenah of ‘Happy Coffee’ and Olalekan Afolayan of ‘PackMyLoad.com’ who smiled home consolation prizes of N500,000 each, whilst the remaining 7 shortlisted SMEs received N200,000 each.
Fidelity Bank CEO, Nnamdi Okonkwo, who commended the winners of the competition emphasized the importance of Micro Small Medium Enterprises (MSMEs) to the growth and development of the Nigerian economy. “MSMEs employ over 80 percent of the country’s total 90.5 million labour force, contribute 48 percent to Nigeria’s Gross Domestic Product (GDP) and constitute over 80 percent of registered exporters in Nigeria”, said Okonkwo.