Prince Adebajo Babington-Ashaye Business Grant
The Prince Adebajo Babington-Ashaye Business Grant rewards a passion for and a commitment to entrepreneurship. The Grant is delivered in partnership with UPG Biashara and so it enables both the acquisition of skills to strengthen every entrepreneur as well as the provision of a grant of USD 5,000 to the chosen winner(s). The successful grantee demonstrates a winning combination of:
- Service: a professional approach to the customers of the business and the users of the product or service. Service is also demonstrated by showing how the business idea benefits its stakeholders, including employees and the community within which the business operates.
- People: the people criteria is fulfilled by demonstrating how the business benefits people. This includes customers, employees, suppliers and more.
- Integrity and Fairness: the entrepreneur demonstrates a commitment to integrity. Integrity is demonstrated in proper accounting and realistic financial statements and projections. A sportsmanlike attitude to competition also means that the entrepreneur always “plays fair”. And always works hard and smart to get better.
- Courage: the entrepreneur may demonstrate courage related to their business ideas in various ways including: showing significant commitment to the business idea, demonstrating their own investment in their business idea, taking sensible and calculated risks in support of the business idea.
- Excellence: a commitment to excellence is evident in the business activity. This may be revealed the design of the product or the service. It may also be revealed in the realistic ambitions of the business. Excellence may also be demonstrated in the presence of sustainability thinking in the business.
- Spark: the spark criteria rewards creativity. The business and/or the entrepreneur can fulfil the spark requirement by demonstrating creative aspects within the design of the product or service.
Eligibility Criteria:
- Age of Entrepreneur: there is no age requirement for this grant
- Business stage: All business stages are eligible
- Geographical Scope: Global. Applicants to this grant can come from any world region
How To Apply: Each year UPG Biashara Entrepreneurs are considered for this grant. To become a UPG Biashara Entrepreneur, please apply here: https://upglive.org/UPGBiashara.
Grants are awarded during the “Action Journey” phase of the UPG Biashara experience. And the specific details of each grant are communicated to all those selected as Candidates to become UPG Biashara Entrepreneurs.
Prince Adebajo Abiodun Babington-Ashaye
The Grant is established in honour of the Late Prince Adebajo Abiodun Babington-Ashaye whose passion for and commitment to entrepreneurship saw him run a range of businesses during his career. He lived and worked extensively on three continents and made friends across nations. He acquired a profound understanding of the importance of the independence of each nation, while also appreciating the contributions that individuals and nations make to our global world.
His commitment to service and to integrity were evident in his professional achievements as a Chartered Accountant, supporting small and large companies across the spectrum.
He was proud and humbled to serve as the President of the Institution of Chartered Accountants of Nigeria between 2007 and 2008. In this role, he championed activities that strengthened the instution, the staff, the student accountants as well as improving the standing of the profession within the society. Among numerous professional and civic contributions: he was a Founding Member of the Chartered Institute of Taxation of Nigeria (CITN), Foundation Member of the Business Recovery and Insolvency Association of Nigeria (BRIPAN), Past President of the Rotary Club of Ogere and part of several federal, industry and local committees where he served as Chair or as a Member. He was a firm believer that for any individual entity to rise, it is also important for its community to rise too.
As a business leader, his creativity and genius shone brightly and his name became synonymous with recovering and rescuing businesses that needed help; always finding a way to ensure that the interests of investors, employees, suppliers and other stakeholders were balanced. He was passionate about the application of technology to boost efficiency and effectiveness. And he was a proponent of inclusive management, promoting effective delegation to ensure that people were involved in management. And also ensuring that people benefitted from the progress of the organisation.
He appreciated excellence combined with a humility to work hard and to serve others. He exemplified courage with his decisions and reiterated the importance of learning from mistakes and knowing when to sell assets or when to exit from certain activities so as to return stronger.
In sport, he acquired a reputation as a champion and a tough competitor. As an athlete he set numerous records at the Lagos Lawn Tennis Club where he won several squash championships. He later proudly served as the President of the Lagos Lawn Tennis Club (established 1895) which is the oldest club in Nigeria.
In philanthropy, he supported both individuals and organisations at all stages; providing philanthropic support with a similar commitment in private and in public.