FG Launches Startup Nigeria to Promote Agribusiness
The Federal Government has launched Startup Nigeria, a three-month incubation program designed to support local entrepreneurs with great innovative ideas to create viable products, go to market and gain traction.
Startup Nigeria is an intervention of the National Social Investment Program (NSIP) under the Office of the Vice President as part of the program to support private sector innovation hubs for the strategic increase of entrepreneurial and technological capacity across Nigeria.
The programme is aimed at any individual/ start-up with an idea or a solution in agriculture and governance in the North-Central region and commerce/FinTech in the South-Eastern region. It will provide training, mentorship and equity free funding to selected startups, with a specially curated curriculum designed specifically to help idea and early stage entrepreneurs find their footing and grow in Nigeria’s socio-economic terrain. Startup Nigeria gives founders the needed leverage to excel.
The curriculum is designed to help idea and early-stage entrepreneurs find their footing and grow within Nigeria’s ultra-competitive socio-economic terrain. Final deadline for application for the programme, which covers training, mentorship and equity-free funding to selected start-ups in two geo-political zones of the country, is 5 May.
The zones cover 12 states including FCT targeting 20 start-ups across four sectors. The states are FCT, Benue, Plateau, Kwara, Kogi, Nasarawa, Niger, Enugu, Imo, Anambra, Abia and Ebonyi.
Start-ups that miss out on being selected for the incubation programme can still access support in business model generation, customer acquisition and other business engineering skills from Startup Nigeria representatives. Those at the idea stage can also apply to participate in a hackathon that could secure them entry into the incubation programme, while those with MVP – Minimum Viable Product – in listed sectors can apply directly.