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The just-concluded fourth edition of Mentor Matchup Challenge, which took place at the Lagos Oriental Hotel, saw three entrepreneurs walk away with a total sum of 20,000 dollars as funding to help boost their businesses.

An initiative of 234finance, the Mentor Matchup challenge is set to bridge the practical knowledge gap between successful entrepreneurs and the younger generation of entrepreneurs.

This year’s edition was held in partnership with BlackCopper and Platform Capital.

Speaking at the event, Ezinne Nwazulu, managing partner, 234Finance said 234 Finance is a digital ecosystem and incubator that connects start-ups with investment opportunities in Africa.

Nwazulu said over 100 applicants applied with their pitches and the best 25 were chosen after which seven businesses were selected for the finals.

“When we started this, we knew that doing one event in a year is not enough and that is why we launched the essential series where we get successful entrepreneurs to come and share their journey and their challenges so that people who are going on that journey will not make certain mistakes and can learn from others as well,” she explained.

Chichi Eriobu, the winner of this year’s challenge and founder, Phronesis Foods Nigeria Ltd who received $10,000, said Phronesis is a food processing and packaging company focused on processing ‘ukwa,’ African Breadfruit, local food from Eastern Nigeria.

“This is my second time applying for the Mentor Matchup Challenge. The first time we applied, we didn’t get selected, so we decided to give it a try again this year. I am so happy having emerged the winner of the challenge,” she said.

Also winning was Liz’s Confections who came second and clinched $6000, while Maziza farms got the sum of $4000.