A United States-based venture studio, Calpe Labs, has launched a N600 billion enterprise development initiative aimed at improving access to capital and strengthening entrepreneurship among grassroots businesses in Imo State.

The Managing Director of Calpe Labs, Mambu Sherman, disclosed this during an interaction with journalists in Owerri, stating that the programme will initially support 50 micro-businesses selected under the Imo State Government’s One Kindred One Business Initiative (OKOBI).

The beneficiaries, drawn from sectors including agribusiness, agro-processing, micro-manufacturing, skilled services, trade and commerce, were selected through the state-backed initiative designed to leverage family and community enterprises as a tool for tackling unemployment and stimulating economic growth.

Sherman explained that the programme emerged from discussions and opportunities identified during the Imo Economic Summit hosted by the state government in December 2025.

According to him, the initiative was conceived by Africa Business Affairs (AfriBA), a business development organisation, and is being implemented in partnership with Calpe Labs, InnoPower Africa and EvaTech Global.

He noted that the collaboration is intended to introduce global technology, innovation and capital solutions to support small businesses and accelerate economic development in the state.

Sherman said EvaTech Global would deploy advanced digital underwriting and business analytics tools to help entrepreneurs improve their capital readiness and gain easier access to financing opportunities.

“One of the greatest challenges facing micro, small and medium enterprises is not a lack of ambition or opportunity, but fragmented support systems,” he said.

He added that the partnership aligns with a growing global trend that recognises the need for integrated support systems and alternative financing solutions for entrepreneurs rather than isolated intervention programmes.

Sherman also highlighted the role of InnoPower Africa, an organisation focused on entrepreneurship, innovation and workforce development, in connecting businesses with institutions, talent and opportunities to drive inclusive growth.

He revealed that the initiative aims to support more than 1,000 businesses across Imo State in the long term, with projections indicating a total economic impact of N600 billion and the creation of 20,000 new jobs.

The programme is also expected to generate about N250 billion in business revenue, significantly boosting economic activity and transforming rural communities across the state.

Sherman expressed confidence in the initiative’s projected outcomes, noting that the programme is designed to address long-standing barriers to business growth through coordinated access to capital and technology-driven business infrastructure.

He added that insights gained from the pilot phase would be used to strengthen the model ahead of its planned expansion into other markets across Africa.