Chidi Nwaogu, Co-founder at Savvy
Savvy Fellowship Program for Entrepreneurs
HundrED has not validated this innovation
Why did you create this innovation?
From March 2020, in the midst of the COVID-19 lockdown, many lost their jobs and moved from being gainfully employed professionals to being unready job seekers living with uncertainty. According to the UN's International Labour Organization, 225 million jobs were lost worldwide in 2020 alone due to the COVID-19 pandemic.
How does your innovation work in practice?
Savvy was founded to help at least 10,000 young, unemployed professionals around the world transition into entrepreneurship by equipping them with the relevant knowledge, skills, tools, resources, support network, and community to become successful impact-driven entrepreneurs, as a way to reduce global unemployment that has been broadened by the COVID-19 pandemic.
So far, we’ve trained over 5,200 individuals in 149 countries, who have gone on to build over 1,000 impact-driven businesses across diverse sectors in different regions. The Savvy program consists of three vital components — the learning, assessment, and mentorship sessions, which all take place online at https://savvyfellows.com/
For 12 weeks, selected participants learn how to start and scale an impact venture. Using visual presentations, Savvy helps them answer all the relevant questions on their mind regarding entrepreneurship. The Savvy program is available in over 100 languages, including English and French.
How has it been spreading?
So far, we have received over 65,000 applications received. With an 8% acceptance rate, we selected and trained about 5,200 Fellows—1,900 of them being female Fellows and 3,300 of them being male Fellows. These Fellows come from 149 countries, with Nigeria, Kenya, India, the United States, Ghana, Pakistan, South Africa, Uganda, Ethiopia, and the United Kingdom, being the countries with the most selected Fellows. Over 3,000 Fellows have completed the program, and these Fellows have gone ahead to brainstorm over 2,000 business ideas and kickstart over 1,000 businesses. Also, we've been able to raise $40,000 in grant funding from the Roddenberry Foundation, the International Telecommunication Union, and the United Nations Office for South-South Cooperation.
If I want to try it, what should I do?
Anyone interested in being part of the Savvy Fellowship Program for Aspiring and Early-Stage Entrepreneurs should apply from https://savvyfellows.com/apply/