Aimed at bringing together the town and the academic community, the fair is scheduled to be held at the International Conference Centre of the university between November 1 and 2. The event will feature an exhibition showcasing 100 SMEs.
Dr Ruth Adio-Moses, the convener of the UI SME fair, mentioned that one of the main objectives of the fair is to expose university students to entrepreneurs.
Additionally, the fair aims to enhance entrepreneurial development in society, promote SMEs and reduce unemployment.
Dr Adio-Moses also emphasised the university’s commitment to translating theoretical innovations from students’ projects and dissertations into practical usefulness within society, instead of having them gather dust on shelves.
She highlighted the issue of valuable national technology being taken abroad due to a lack of local harnessing, noting that the fair intends to address this by providing solutions and innovations for various SME challenges.
Dr Adio-Moses stated that the fair will provide SMEs with knowledge about establishing businesses, understand the legal aspects of setting up businesses, and offer access to interest-free loans.
Mr Kola Fasola, a member of the planning committee, emphasised that the fair serves as a platform for knowledge sharing and connecting people to funding sources for their businesses.
He mentioned that SME owners will gain knowledge to enhance their return on investment (ROI) and learn how to be innovators.
Mrs Bimbo Okutiyang, a consultant for the event, mentioned that participants from various fields will have opportunities to pitch for sponsors, showcase their innovations, provide production demonstrations, engage in networking, seek business advice, get consultancy, and explore funding opportunities.