A U.S.-based venture studio, Calpe Labs, has launched a N600 billion enterprise development programme in Imo State with projections that it could create 20,000 jobs while expanding access to capital, technology and business support for grassroots entrepreneurs.
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The initiative, announced by Calpe Labs Managing Director, Mambu Sherman, will begin with 50 micro-businesses selected under the Imo State Government’s One Kindred One Business Initiative (OKOBI), a programme designed to use family and community-owned enterprises as a vehicle for job creation and local economic development.
The selected businesses cut across agribusiness and agro-processing, micro-manufacturing, artisanal and skilled services, as well as trade and commerce. While the pilot phase focuses on 50 businesses, partners behind the programme say the long-term goal is to support more than 1,000 enterprises across the state.
Sherman said the initiative was a direct outcome of discussions and commitments made during the Imo Economic Summit held in December 2025, where stakeholders explored strategies for inclusive economic growth and private sector-led development.
The programme is being implemented by Africa Business Affairs (AfriBA) in partnership with Calpe Labs, InnoPower Africa and EvaTech Global. The collaboration is expected to combine business development support with technology-driven financing solutions aimed at strengthening the growth potential of small businesses.
According to Sherman, EvaTech Global will deploy digital underwriting systems and business analytics tools to help entrepreneurs improve investment readiness and gain easier access to funding opportunities.
“This technology will help local entrepreneurs in the state to strengthen capital readiness and seamlessly improve access to vital financing opportunities,” he said.
He noted that access to support remains a major challenge for many micro, small and medium enterprises (MSMEs), despite growing demand for entrepreneurship-led economic growth.
“One of the greatest challenges facing MSMEs is not a lack of ambition or opportunity, but fragmented support systems,” Sherman said.
The programme’s job creation target is among its most ambitious outcomes. Partners estimate that the initiative could generate 20,000 new jobs while delivering a total economic impact of N600 billion and creating approximately N250 billion in business revenue.
Sherman said the combination of growth capital, business infrastructure and technology-enabled support would help rural enterprises scale faster and contribute more significantly to local economies.
He added that InnoPower Africa would play a key role in connecting entrepreneurs with talent, institutions and opportunities needed for sustainable growth.
According to him, lessons from the pilot phase will be used to strengthen the model before it is expanded into other African markets, with the broader objective of building a more connected and investment-ready ecosystem for grassroots businesses.
