A U.S.-based venture studio, Calpe Labs, has unveiled a N600 billion enterprise development scheme aimed at boosting entrepreneurship and access to capital for 50 grassroots micro-businesses in Imo.
The Managing Director of Calpe Labs, Mr. Mambu Sherman, disclosed this in an interview with reporters on Wednesday in Owerri.
It was reported that the beneficiaries were selected under the Imo State Government’s One Kindred One Business Initiative (OKOBI), a program designed to leverage family and community-owned businesses to address unemployment and stimulate local economic growth.
The selected businesses operate in agribusiness and agro-processing, micro-manufacturing, artisanal and skilled services, as well as trade and commerce.
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 (AfriBA), a business development organization, in partnership with Calpe Labs, InnoPower Africa, and EvaTech Global.
According to him, the partnership aims to introduce global technology solutions, innovative financing models, and business support systems to strengthen grassroots enterprises.
He added that 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 strengthen capital readiness and seamlessly access vital funding,” Sherman said.
He noted that one of the biggest challenges facing MSMEs is not a lack of ambition or opportunity, but fragmented support systems.
Sherman observed that the partnership reflects a growing global trend where entrepreneurs increasingly need integrated support networks and alternative financing options rather than isolated intervention programs.
InnoPower Africa, a workforce and economic development organization focused on entrepreneurship, innovation, and talent development, will 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 total economic impact of N600 billion and the creation of 20,000 new jobs. Furthermore, the program is expected to generate approximately N250 billion in business revenue, directly transforming rural communities within the state.”
He added that the program is expected to significantly transform rural economies across the state through coordinated access to growth capital and technology-enabled business infrastructure.
Sherman expressed confidence that these targets are achievable through the systematic removal of barriers limiting small business growth.
He also stated that lessons from the pilot phase would help refine the model ahead of its planned expansion to other African markets.
