Nigeria Launches $100K Equity Program for 500 Tech Startups

Nigeria just opened applications for a program that could transform how the country's tech entrepreneurs access funding and mentorship. The Investment in Digital and Creative Enterprises (iDICE) Startup Bridge will support over 500 tech founders with training, grants, and serious investment money.

The program recognizes a simple truth: great ideas need different types of support at different stages. That's why it splits into two pathways designed for where founders actually are in their journey.

Founders Lab welcomes idea-stage entrepreneurs and early prototype builders into a 12-week intensive program. Each year, 250 participants will get structured learning and mentorship to validate their business ideas and build minimum viable products.

The best part? The top 100 performers who hit defined milestones receive grants up to 10 million naira (about $15,000) to develop their products or launch their ventures. That's real money solving a real problem for Nigerian entrepreneurs who often struggle to find seed funding.

Growth Lab, launching later, targets startups already showing traction. These companies have working products, customers, and revenue potential but need capital to scale.

Selected Growth Lab startups receive $100,000 in equity investment plus support refining their operations and fundraising strategies. The program also connects them directly to institutional investors for follow-on funding, with possible match funding for those who secure external investment.

The Ripple Effect

This initiative does more than write checks. By training 250 founders annually and investing in proven teams, it's building infrastructure for Nigeria's innovation economy.

Vice President Kashim Shettima chairs the steering committee and says the program unlocks economic opportunities for Nigeria's young population. In a country where youth unemployment remains high, every scalable startup represents dozens or hundreds of potential jobs.

The Bank of Industry, which implements the program, is backing its commitment with historic numbers. The bank disbursed 636 billion naira to enterprises in 2025, its highest annual total ever, with 43 billion going to digital and creative sectors.

The African Development Bank, Agence Française de Développement, and Islamic Development Bank are financing the initiative. Their involvement signals international confidence in Nigeria's startup ecosystem.

Applications for Founders Lab opened March 16 and close April 20, with merit-based selection using clearly defined criteria. Head of Founders Lab Cindy Ezerioha says the program helps entrepreneurs transform ideas into viable businesses, not just provide funding but genuine partnership.

For Nigeria's tech community, this represents something bigger than money: it's structured, serious support that meets founders where they are and helps them reach where they're going.