A United States-based venture studio, Calpe Labs, has launched a ₦600 billion enterprise development initiative aimed at supporting grassroots businesses and stimulating economic growth in Imo State.
The programme, unveiled in Owerri, targets 50 micro-businesses selected under the Imo State Government’s One Kindred One Business Initiative, which focuses on promoting community-owned enterprises to reduce unemployment and expand economic opportunities.
Managing Director of Calpe Labs, Mambu Sherman, said the initiative emerged from commitments made during the Imo Economic Summit in 2025 and is being implemented in partnership with Africa Business Affairs, InnoPower Africa, and EvaTech Global.
According to him, the scheme will provide participating businesses with access to technology-driven business support, innovative financing opportunities, and entrepreneurship development tools aimed at improving their growth potential.
The beneficiaries operate in key sectors including agriculture, agro-processing, manufacturing, skilled services, and commerce.
Sherman said the broader goal is to empower more than 1,000 businesses across the state, generate an estimated 20,000 jobs, and create significant economic value for rural communities.
He expressed confidence that the initiative would strengthen small businesses, improve access to capital, and contribute to the long-term transformation of Imo State’s economy.
