Last updated on August 5th, 2023 at 09:34 pm
To the panel of the Young Tycoon Business Competition, selecting who wins the 2021 edition worth $960,000 prize may be a tough decision as two young Nigerian students of Greensprings School, Lagos, Chioma Abone and Emmanuella Ilok, presented their wearable technology that will curb the kidnapping of students in Nigeria.
The wearable device which can be described as a student anti-kidnapping device will send a prompt notification to parents and guardians when their kids are in danger.
The Inspiration Behind The Wearable Device
Financially, the prize is N393,600,000 in Nigerian naira, but to the two secondary school students, the daily cases of kidnapping of students, majorly in the Northern parts of Nigeria, gave them sleepless nights.
Although the region where their school is domiciled has never witnessed any case of school kidnapping, they know that if something urgent isn’t done it would spread to every part of the country like an epidemic.
During the virtual presentation of their business idea before the panelists of the Young Tycoon Business Competition, the two techs ‘witchcraft’, vibrant, extremely sharp, and brilliant students said they were worried, sad about the horrible news of the constant abduction of fellow students in Nigeria.
Tapping Into Business Opportunities In The Face of Challenges
Parents of victims of abduction continue to sell off their properties to raise the ransom to free their kids.
States where school abduction occurred remained helpless even when a commissioner was abducted.
The only thing the Federal Government who controls the security apparatus could do was to issue a threat to prosecute parents who paid ransom while nothing is being done to put the ugly situation to an end, Chioma Abone and Emmanuella Ilok came up with the wearable technology.
Brilliantly, it wasn’t just an opportunity to help contribute their quota in putting an end to school kidnapping in Nigeria, they also came up with a business idea.
Paramount Guard, a security firm was birthed to offer security services to school students, not only in Nigeria but all over the world.
Their products include:
- AirGuard App
- AirGuard Wearable
How The Two Products Work
The AirGuard Wearable will be paired with the AirGuard App to help students promptly alert family members and friends when in a critical situation, although AirGuard Wearable is being worked upon.
Chances of Winning
- Participating countries: 80
- No of Submitted business ideas: 700
First, Chioma and Emmanuella’s wearable anti-kidnapping business idea made it to the top 28.
Second, their idea stood out among the 28 and made it to the top eight, according to an announcement from the organisers of the Young Tycoon Business Competition.
With this feat, the two Greensprings student stand a brighter chance of walking home and supporting their business with $960,000 prize.
The competition is a brainchild of a consortium of the world’s top universities and Silicon Valley tech-savvy, entrepreneurs and innovators.
It is specifically designed to inspire, motivate, and mentor aspiring high-school entrepreneurs across the world.
It began in May 2021. At the time of this update, finalists have gone through three rounds, and they defended their business ideas and business plans.
The fourth and final round will take place later in the year.
The Challenges Ahead
While we’re optimistic that Chioma Abone and Emmanuella Ilok’s idea will not only curb the cases of school kidnappings in Nigeria and keep other students around the world safe, they need to step up their game.
It’s obvious that some guys who are making billions from kidnapping will definitely see this noble idea as a threat to their ‘lucrative’, criminal, and deadly business.
We’re proud of your innovation and wish you the best, girls.