A U.S.-based venture studio, Calpe Labs, has unveiled a N600 billion enterprise development scheme aimed at enhancing entrepreneurship and access to capital for 50 grassroots micro-businesses in Imo.

Its managing director, Mambu Sherman, disclosed this in an interview on Wednesday in Owerri.

The beneficiaries were selected under the Imo government’s One Kindred One Business Initiative, a programme designed to leverage family and community-owned businesses to tackle unemployment and stimulate local economic growth.

The selected businesses operate in agribusiness and agro-processing, micro-manufacturing, artisanal and skilled services, and trade and commerce.

Mr Sherman said the initiative emerged from discussions and commitments made at the Imo Economic Summit held in December 2025 to promote inclusive economic development in the state.

He explained that the scheme was initiated by Africa Business Affairs, a business development organisation, in partnership with Calpe Labs, InnoPower Africa and EvaTech Global.

According to him, the partnership is expected to introduce global technology solutions, innovative financing models and business support systems to strengthen grassroots enterprises.

He said EvaTech Global would deploy advanced digital underwriting and business analytics tools to improve entrepreneurs’ readiness for investment and facilitate access to financing opportunities.

“This technology will help local entrepreneurs in the state to strengthen capital readiness and seamlessly improve access to vital financing opportunities.
“One of the greatest challenges facing MSMEs is not a lack of ambition or opportunity, but fragmented support systems,” Mr Sherman said.

He noted that the partnership reflected a growing global trend in which entrepreneurs increasingly require integrated support networks and alternative financing options rather than isolated intervention programmes.

Mr Sherman said InnoPower Africa, a workforce and economic development organisation focused on entrepreneurship, innovation and talent development, would help connect individuals, institutions and opportunities to drive inclusive growth.

“The initiative ultimately aims to empower over 1,000 businesses across the state. Partners project a massive N600 billion total economic impact and 20,000 new jobs,” stated Mr Sherman. “Furthermore, the programme is expected to generate approximately N250 billion in business revenue, directly transforming the economic landscape of rural communities within the state.”

He added that the programme was expected to significantly transform rural economies across the state through coordinated access to growth capital and technology-enabled business infrastructure.

Mr Sherman expressed confidence that the targets were achievable through the systematic removal of barriers limiting the growth of small businesses. He added that lessons from the pilot phase would be used to refine the model ahead of its planned expansion to other African markets. 

(NAN)