Greensprings Students to Win $960,000 in Young Tycoon Business Contest

Uchechukwu Nnaike

For coming up with the idea of a company that uses wearable technology to counter the increasing abduction of school children in Nigeria, Chioma Abone and Emmanuela Ilok of Greensprings School stand the chance of winning $960,000 worth of prizes.
The announcement came from the Young Tycoon Business Competition organisers, and according to them, the students emerged as one of the 28 finalists out of the 7,000 participants from 80 countries.

Explaining their business idea, Abone and Ilok said it was about a security company that develops two products that keep students safe by alerting family and friends when in a state of emergency.

“The inspiration for our business idea came from the insecurity situation in the country. As students, we aren’t happy with the news of the constant abduction of fellow students in some parts of Nigeria.

“So, we decided to work on an idea about a company called Paramount Guard, which seeks to offer security services to school students, not only in Nigeria but all over the world. The company plans to introduce AirGuard Wearable, which pairs with the AirGuard App to help students quickly alert family members and friends when in a critical situation or a state of emergency,” they said.

Greensprings principal Anthony Campus, Magdalene Okrikri, expressed happiness at the students’ advancement to the final stage of the competition, saying: “Looking at the total number of students that participated in this competition, I consider the emergence of our students as finalists to be a great feat. This achievement is a testament to Greensprings School’s drive to raise young entrepreneurs. We are indeed very proud of them, and I wish them success in the final.”

The competition is organised by a consortium of the world’s top universities and Silicon Valley entrepreneurs to motivate and mentor aspiring high-school entrepreneurs across the globe. The competition started in May, and the finalists have gone through three rounds, in which they submitted their business ideas, developed their business plans, and defended their pitch decks. The fourth and final round will take place at a later date, yet to be advised.