Nigeria Launches $100K Fund for 500 Tech Entrepreneurs

Nigeria just launched one of its most ambitious tech support programs, offering half a thousand entrepreneurs the training and funding they need to turn their digital dreams into reality.

The iDICE Startup Bridge Programme combines structured mentorship with serious financial backing. Participants can access grants up to 10 million naira (about $6,500) and equity investments reaching $100,000 to grow their startups from concept to market.

Vice President Kashim Shettima chairs the initiative, which targets aspiring founders and early-stage companies across Nigeria's 36 states and the Federal Capital Territory. The goal is creating sustainable jobs while strengthening the country's innovation ecosystem for its youthful population.

The Bank of Industry is implementing the program with financing from the African Development Bank, Agence Française de Développement, and the Islamic Development Bank. In 2025 alone, the bank disbursed a record 636 billion naira to enterprises, including 43 billion naira specifically for creative and digital sectors.

The program offers two pathways for different founder stages. Founders Lab runs for 12 weeks and helps idea-stage entrepreneurs develop business models and build minimum viable products. Each year, 250 participants get mentorship and training, with the top 100 performers receiving grants to launch their ventures.

Growth Lab, launching later, targets startups already generating revenue. These more mature companies receive the $100,000 equity investments plus support for scaling operations and refining their fundraising strategies.

Applications opened March 16 and close April 20, with selection based on merit evaluation. Cindy Ezerioha, who heads Founders Lab, emphasized the program connects validated businesses directly with funding opportunities.

The Ripple Effect

This initiative represents more than just startup funding. By spreading opportunity across every Nigerian state, the program ensures tech innovation isn't limited to major cities like Lagos or Abuja. Rural entrepreneurs with breakthrough ideas now have the same shot at funding and mentorship as their urban counterparts.

The ripple effects could transform local economies throughout Nigeria. Each successful startup creates jobs, inspires neighboring entrepreneurs, and demonstrates what's possible when talent meets opportunity. The program's focus on digital and creative sectors also positions Nigeria to compete globally in high-growth industries.

Nigeria is betting big on its entrepreneurs, and 500 founders are about to prove that investment was worth it.