The search for startup funding in Nigeria often feels like finding a needle in a haystack. But here’s some exciting news that could change your entrepreneurial journey: The Startup Foundry, in partnership with TheNest Innovation Technology Park, is launching its second cohort with a game-changing seed fund opportunity.
A Golden Opportunity for Nigerian Entrepreneurs
Let’s face it – while Nigeria’s tech ecosystem is booming (with an impressive $1.2 billion raised in 2023), getting business loans in Nigeria remains a massive hurdle for early-stage entrepreneurs. That’s exactly what the Startup Foundry program aims to address.
Here’s what makes this opportunity special: Six promising businesses will share a $10,000 seed fund. But hold on – there’s much more than just funding on the table.
What’s in it for You?
First, let’s talk about the money (because we know that’s what you’re here for!):
- 🥇 First Prize: $3,000 in startup capital
- 🥈 Second Prize: Two winners get $2,000 each
- 🏆 Additional Awards: Three businesses receive $1,000 each
But here’s where it gets really interesting. Beyond the investment opportunities in Nigeria, selected entrepreneurs get access to:
- World-class business development training
- One-on-one mentorship from industry leaders
- Legal services support (yes, including help with business registration in Nigeria!)
- Product development consulting
- A powerful network of fellow entrepreneurs
Who Should Apply?
Are you running a tech-enabled business in any of these high-growth sectors?
- Healthcare technology
- Education innovation
- Agricultural technology
- Light manufacturing
- Renewable energy
- Recycling and sustainability
If you’re nodding your head, and your business has been operational for 1-2 years, you’re exactly who we’re looking for!
Eligibility Criteria
Before you rush to apply, let’s cover the basics. You’ll need:
- Age: Between 20-35 years (sorry, Gen X!)
- Business Track Record: Proof that your venture isn’t just a side hustle
- Growth Potential: Real evidence that your business can scale
What Makes This Program Different?
Unlike traditional business loans in Nigeria, this program offers a complete growth package. Think of it as a business accelerator on steroids. You’ll get:
Hands-on Training
- Professional business plan development
- Digital marketing strategy masterclasses
- Financial management workshops
- Investment readiness preparation
Real Support
- Legal and administrative guidance
- Product development assistance
- Market entry strategy
- Growth hacking techniques
The Program Structure
Here’s what to expect:
- 4 weeks of intensive online training
- A grand finale Demo Day in Lagos
- Ongoing mentorship and support
FAQs (Because We Know You’re Wondering…)
“Is this just another grant program?”
Nope! This is a comprehensive business development program with serious funding attached. Think of it as your launchpad to success.
“Do I need a perfect business plan?”
Not perfect, but you need to show potential. We’ll help you polish your business strategy during the program.
“What happens after the program?”
You’ll join an exclusive alumni network, get ongoing mentorship, and access to future investment opportunities in Nigeria.
Ready to Take the Leap?
If you’re serious about scaling your business in Nigeria, this is your moment. The program kicks off in Q1 2025, but spots are limited to just 50 entrepreneurs.
How to Apply:
- Submit your online application Here
- Prepare your supporting documents:
- Business registration documents
- 3-month bank statements
- Brief business plan
- Founder’s resume
3. Record a short pitch video
The Bottom Line
In a landscape where finding business funding in Nigeria feels like an uphill battle, the Startup Foundry program offers more than just capital – it’s your complete toolkit for business success.
Don’t miss this opportunity to transform your business dreams into reality.
Applications close 28 February 2025
