Market Doctor, an innovative healthcare provider, has emerged as the winner of the inaugural edition of the competition organised by Fidelity Bank Plc for Small and Medium Enterprises.
The firm got the N2m cash prize as the overall winner of the maiden competition held in Lagos.
An initial 12 finalists emerged from more than 2,500 successful applicants who went through a rigorous and intensive selection process conducted by PricewaterhouseCoopers.
During the competition, the number was further cut down to five, after another assessment.
The independent judges, led by Prof Yinka David-West of the Lagos Business School, pronounced Market Doctor winner, in consideration of the profitability, viability, and scalability of its business model.
“We are thrilled to receive this grant by Fidelity Bank to scale our business and improve the wellbeing of Nigerians,” Founder, Market Doctor, Miss Yetunde Ayo-Oyalowo, said.
Healthy Nellies, a food production firm, and Greenhill Recycling, emerged first and second runner up, respectively, won N1m each.
Other finalists include Adeyinka Tekenah of ‘Happy Coffee’ and Olalekan Afolayan of ‘PackMyLoad.com’ who won N500,000 each, while the remaining seven shortlisted SMEs received N200,000 each.
The Chief Executive Officer, Fidelity Bank, Nnamdi Okonkwo, who commended the winners of the competition, emphasised the importance of micro, small and medum enterprises to the growth and development of the Nigerian economy.