23 Business Incubators and Accelerators in Nigeria
Nigeria is home to an expanding group of entrepreneurs that are fueling the country’s creativity and economic expansion. Access to capital, mentorship, and resources is a crucial element that can aid small entrepreneurs in succeeding. In this situation, startup accelerators and incubators are useful.
These initiatives offer early-stage enterprises support and direction, assisting them in honing their concepts, creating their goods or services, and expanding their operations.
The top startup incubators and accelerators in Nigeria are examined in greater detail in this post, but first, let’s look at some of the similarities and contrasts between them.
Nigerian incubators and accelerators for startups
Programs like startup incubators and accelerators are made to support the development and success of early-stage businesses. These programs give business owners access to information, funding, and mentorship as well as a network of like-minded people who can support them.
What is an Incubator
A longer-term, more hands-on approach to aiding companies is often provided through incubators. They give access to tools like legal and accountancy services, mentorship, and office space. Startups frequently work with incubators during the ideation or early development phases to help them hone their concepts and create a marketable good or service.
What are Accelerators?
On the other hand, accelerators are intended to support startups in their quick expansion. They often offer a more intensive, structured program and run for a shorter amount of time (normally 3-6 months). Accelerators frequently offer seed money in addition to coaching and mentoring from seasoned business owners and financiers.
Both incubators and accelerators may be very helpful tools for entrepreneurs, guiding them through the difficulties of creating a successful company. The top 28 startup incubators and accelerators in Nigeria are listed below.
1. CcHUB, or Co-Creation Hub
Through its incubation programs, CcHUB aids Nigeria’s technological community. Their six-month Pre-Incubation program helps business owners create technological solutions to societal issues. The 12-month Incubation program at CcHUB offers startups up to $25k in funding as well as free office space.
The 12-week programs offered by CcHUB’s Accelerators are made to help companies expand steadily by honing their abilities in product creation, money management, investment preparedness, and business modeling.
Visit Co-Creation Hub (CcHUB) Website
Funding Amount: Up to $25,000
2. Wennovation Hub
In Nigeria, Wennovation Hub has been a leading innovation accelerator for more than ten years. It offers tech support to both new businesses and well-established companies, and has assisted several startups in becoming successful. They maintain offices in Ikeja, Abuja, Ibadan, and Barbados that are equipped with all the resources required to stimulate creative business ideas.
Visit Wennovation Hub Website
Funding Amount: Varies depending on the startup
3. Greenhouse Capital
A platform called GreenHouse Capital links businesses, investors, and startups to promote innovation in Africa. The platform works with corporate partners to offer accelerator programs to help firms get off the ground. It primarily focuses on fintech and fintech-enabled startups. GreenHouse Capital makes investments in visionary and resilient founders in the fintech and fintech-enabled sectors. GreenHouse Capital has held ten accelerator programs to date.
Visit GreenHouse Capital Website Funding Amount: Up to $150,000
4. Mest Africa
MEST Africa is a hub network and training program for tech entrepreneurs that provides incubation for African tech firms. The initiative was established in Ghana in 2008 and consists of three parts: an annual entrepreneurship training program, an incubator and seed fund, and an annual training program for entrepreneurs-in-training.
Candidates that are chosen are given seed money and complete support to start their enterprises with the intention of expanding across African markets. With locations in Cape Town, Nairobi, Lagos, and Accra, MEST Africa offers crucial skill-training programs, financial assistance, and support to Africa’s tech entrepreneurs.
Visit MEST Africa Website
Funding Amount: Up to $200,000
5. Enspire
Enspire is an early-stage startup incubator program with a technology-centric focus on creating sustainable businesses. Since its 2013 debut, it has aided more than 200 entrepreneurs in Nigeria’s diverse economic sectors. Enspire offers a quarterly ideation program with coaching and advice for the creation of minimum-viable products for up to 20 entrepreneurs.
Enspire is a significant project of the Abuja Technology Village Free Zone Company (ATV), which encourages innovation, entrepreneurship, and the commercialization of technology in order to grow the economy. It is in the Nigerian capital of Abuja.
Visit Enspire here
6. Venture Garden Group
A significant holding company for technology in Africa, Venture Garden Group seeks to increase productivity throughout the continent’s high-impact industries. The organization helps businesses with creative ideas by providing funding, technology platforms, and business consulting services. The organization provides the resources required for product development and quicker growth through incubation and investment in technology startups.
Visit the Ventures Garden Group Website
Funding Amount: Varies depending on the startup
7. Itanna
Itanna is a company that promotes technology and entrepreneurship through mentorship, investment, and acceleration. From its Enterprise Factory in Lagos, Nigeria, it runs a four-month accelerator program under the direction of Honeywell Group. The program’s goal is to prepare the cohort companies for the business world by offering strong expert advice, market fit assessment, and investment support.
Tech businesses taking part in the program will receive an initial investment, practical guidance from industry professionals, and mentorship from top global tech entrepreneurs.
Visit Itanna here
8. Google for Startups Africa Accelerator
A virtual accelerator program called Google for firms Accelerator Africa is available to high-potential Seed through Series A tech firms in Africa. Startups from Algeria, Botswana, Cameroon, Côte d’Ivoire, Egypt, Ethiopia, Ghana, Kenya, Morocco, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Tunisia, Uganda, and Zimbabwe are welcome to apply for the program.
In order to address their biggest difficulties, it promotes growth-stage entrepreneurs that make use of cutting-edge technology and teams them up with pertinent Google and industry experts. Additionally, they provide specialized content and mentoring through a program for female-led digital firms in Africa that are up to the Series A stage or developing technological solutions with a focus on the continent.
Visit Google for Startups Accelerator Africa Website
Funding Amount: Up to $100,000
9. L5labs
A technology incubator called L5lab focuses on establishing internet and mobile prospects in Africa. It was started in 2009 by Chika Nwobi. L5lab supports management teams in accessing growth capital, makes worldwide alliances to bring successful business models to West Africa and other parts of Sub-Saharan Africa, and invests in promising tech-related startups at the seed stage.
L5lab offers its portfolio firms financial support, CEO coaching, office space, and administrative support services. Among the well-known startups that L5lab has backed are Jobberman, Decagon, and Cheki.
Visit L5Labs here
10. Startup Wise Guys
The SaaS Acceleration Program: Africa by Startup Wise Guys provides specialized advice and assistance from knowledgeable mentors and subject matter experts to assist entrepreneurs in overcoming challenges during the company-building process and enhancing their go-to-market strategy.
The program’s main advantages include access to weekly 1:1 coaching in areas like sales, marketing, and pitching, up to €65K in investment for up to 12% equity, the chance to join a network of over 600 founders, 350 mentors, and 200 investors, as well as access to top industry experts.
11. Seedstars
A multinational corporation, Seedstars operates in frontier and emerging markets throughout the world, including Latin America, Africa, the Middle East, Central-Eastern Europe, and Asia. With a global network of 15 offices, Seedstars has operations in over 90 countries from its headquarters in Geneva, Switzerland.
Their accelerator program, Seedstars Acceleration, aims to assist businesses in developing a working prototype, securing their first paying clients, and determining product market fit. The program offers weekly seminars, bootcamps, KPI sessions, social events, and 1:1 mentorship for customized support.
Visit Seedstars Website
Funding Amount: Up to $500,000
12. FasterCapital
Nigerian startups are supported by the worldwide internet incubator FasterCapital. They provide technological and corporate growth as well as efforts for equity. They also provide product design services and assist startups in creating an MVP or a prototype. The startup’s pitch deck, business plan, and financial operating model are all improved with assistance from FasterCapital, which also helps with funding.
They assist companies in obtaining funding from a variety of sources and have a network of Nigerian businesspeople, financiers, mentors, and regional partners.
13. Startupbootcamp
In 2017, the corporate-backed accelerator Startupbootcamp made its debut in Africa. It offers access to a vast network of corporate partners, investors, and mentors as well as top-notch accelerator programs. Its programs include iNOVO, which focuses on early-stage entrepreneurs in Nigeria addressing concerns from Covid19, and ASIP accelerator for startups disrupting diverse sectors.
14. Pioneer
Pioneer is a global accelerator program that aids creative business owners who lack the tools to create profitable enterprises. The three-month remote program helps entrepreneurs build their network and establish product-market fit by offering advice from an adviser and a small cohort of people.
In addition, participants get a free trip to San Francisco, help incorporating, and benefits in return for 1% equity. Pioneer provides a free, optional $20,000 investment.
15. Future Hub
Investing up to $300,000 for 5% interest in pre-seed and Seed-stage firms with industrial expertise is what Future Hub, an incubator and investment fund, does. They provide entrepreneurs with incubation, acceleration, and support while concentrating on disruptive company models across diverse industries that are enabled by technology.
With resources, knowledge, funding, and a network from China, Future Hub assists African entrepreneurs and startup teams that are aiming for the African continent.
16. Adaverse
A venture capital firm and accelerator called Adaverse assists blockchain entrepreneurs across Asia, Africa, and other continents. A joint project of EMURGO and Everest Ventures Group, it offers financial support, technical guidance, and infrastructure to scale Web 3 technologies.
Adaverse prefers tickets with an average size of $300k and financing levels between $50k and $750k. Nigeria, Dubai, Singapore, Hong Kong, Shanghai, and London are among the locations of the company’s international offices and staff.
17. Village Global
Early-stage venture funding firm Village Global is supported by well-known businessmen including Gates, Zuckerberg, and Bezos. Their accelerator provides three months of individualized assistance, weekly mentoring, white-glove financing, access to potential clients and talent, and masterclasses taught by industry professionals.
They put $150k into a SAFE for 7% ownership and give you access to a lifetime peer group. From all around the world, including Silicon Valley, Nigeria, India, Colombia, and more, participating founders have arrived. links to applications.
18. Village Capital
Early-stage entrepreneurs can get assistance from Village Capital in building and expanding their enterprises. They concentrate on companies that offer answers to problems in the social, economic, and environmental spheres. Village Capital supports entrepreneurs in a variety of industries and has extensive knowledge having managed over 150 accelerators. They offer founders special tools to help them become more effective, sustainable, impactful, and inclusive.
19. DFS Lab
An organization called DFS Lab makes investments in Africa’s digital commerce sector. African pre-seed startup founders are invited to apply for their accelerator program. The program provides businesses seeking to advance digital commerce in Africa with funding of up to US$50,000 as well as extra support. DFS Lab offers individualized growth plans for each team after an investment, as well as office hours, mentor matching, and cohort-wide meetings.
20. Injini
The Edtech accelerator and think tank Injini is situated in Africa and provides programs and research to support pioneering companies that want to improve educational outcomes across the continent. It is a non-profit organization that has been registered, and its only goal is to improve educational achievements in sub-Saharan Africa. Injini accomplishes this by assisting stakeholders in raising the caliber, accessibility, and relevance of education throughout the area.
21. Mastercard Start Path
Start Path is a Mastercard program for startups that offers a variety of paths for connecting to the payments ecosystem, encouraging diversity, and acquiring funding. More than 250 startups have taken part since 2014.
Start Path Emerging Fintech is a track for later-stage fintech startups. Start Path Crypto is a track for cutting-edge crypto businesses. Start Path In Solidarity is a track for underrepresented fintech founders. Start Path Open Banking is a track for startups in open banking and finance. Start Path Small Business is a track for scaling solutions for SMEs.
22. Techstars
A global accelerator called Techstars makes investments in start-up businesses through mentorship-based initiatives. They provide a $120,000 investment, practical mentoring, and lifetime access to their network. Their portfolio includes businesses from many geographies and sectors that provide infrastructural assistance, mentoring, and financial access. Investments are made in early-stage African fintech and proptech businesses through the ARM Labs Lagos Techstars Accelerator Program.
23. Orange Corners
Orange Corners seeks to improve Nigeria’s entrepreneurial ecosystem in order to give young people the tools they need to build viable company ideas. Young entrepreneurs can participate in the program’s 6-month incubation program, which also acts as a link between them and the commercial sector. The Kingdom of the Netherlands and a regional service provider are working together on this initiative, which benefits all parties concerned.
In Nigeria, these business incubators and accelerators are crucial to promoting entrepreneurship. These programs support the development and success of early-stage businesses by offering mentorship, funding, and resources. There are several good programs available in Nigeria to support entrepreneurs in achieving their objectives, whether they want to create a new product, expand an existing business, or acquire capital.
24. Ventures Platform
Ventures Platform – https://venturesplatform.com/
Funding Amount: Up to $20,000
25. Fate Foundation
Funding Amount: Varies depending on the startup
26. Tony Elumelu Foundation (TEF) Entrepreneurship Programme –
https://www.tonyelumelufoundation.org/teep
Funding Amount: $5,000 in seed capital
27. LeadPath Nigeria –
Funding Amount: Up to $200,000
28. Digital Development Hub –
https://digitaldevelopmenthub.org/ Funding Amount: Varies depending on the startup
29. African Fintech Foundry –
Funding Amount: Varies depending on the startup
30. Passion Incubator –
Funding Amount: Varies depending on the startup
