Nigeria Grants $7,350 Each to 100 New Startup Founders

Hundreds of Nigerian entrepreneurs now have a real shot at turning their startup dreams into reality, thanks to a new government program that's putting serious money behind early-stage ideas.

The iDICE Startup Bridge just opened applications for its Founders Lab, a 12-week intensive program designed for founders who are still in the idea or prototype phase. The 100 best participants will each receive 10 million naira (about $7,350) in grant funding, totaling up to 1 billion naira in support.

"This programme gives young entrepreneurs across the country a real opportunity to build or scale," said Nigerian Vice President Kashim Shettima, who chairs the iDICE Steering Committee. The initiative comes backed by major development partners including the Bank of Industry, African Development Bank, French Development Agency, and Islamic Development Bank.

What makes this different from typical accelerator programs? It's specifically targeting founders who don't yet meet traditional venture capital thresholds, especially those outside major startup hubs like Lagos. The program will run two cohorts yearly, aiming to support at least 250 startups in 2025 alone.

During the 12 weeks, founders learn how to validate their ideas, structure their businesses, and build minimum viable products. They'll also receive stipends covering internet costs and workspace access, plus mentorship from industry leaders like Miva University founder Sim Shagaya.

"The goal is to develop a stronger pipeline of investable Nigerian startups," explained Cindy Ezerioha, Head of Startup School at iDICE. Partners including Amazon Web Services, Paystack, and Microsoft are providing technology credits and pro bono business support.

The Ripple Effect

This program doesn't stop at the initial grant. A second track called Growth Lab, launching later this year, will offer $100,000 equity investments to selected startups that graduate from Founders Lab. Participants could access another $125,000 in matching funds and compete in a national pitch competition for additional capital.

The initiative is actively working with hub owners across all Nigerian regions to ensure geographic diversity and gender representation. By partnering with local workspaces nationwide, the program ensures talented founders in smaller cities get the same structured support as their counterparts in tech capitals.

For Nigeria's digital and creative economy, this represents a fundamental shift in how early-stage innovation gets funded and supported. Instead of waiting for founders to somehow bootstrap their way to venture-ready status, the government is meeting them where they are and providing the resources to get there.

Applications are now open, and thousands of Nigerian entrepreneurs are getting ready to prove what they can build when someone believes in their vision enough to invest in it.