Nigeria Launches $100K Startup Program for 500 Founders

Nigeria just launched one of its most ambitious startup support programs, and it's designed to reach every corner of the country.

The iDICE Startup Bridge Programme officially opened applications this week, offering a clear path from business idea to funded company for aspiring entrepreneurs across all 36 Nigerian states. Backed by the federal government and three major development banks, the program targets one specific goal: turning promising ideas into job-creating businesses.

Here's how it works. The program splits into two tracks based on where founders are in their journey.

Founders Lab welcomes idea-stage entrepreneurs and those with early prototypes. Over 12 weeks, 250 participants each year will get structured training on validation, business modeling, and building minimum viable products. The best 100 teams who hit key milestones walk away with grants up to ₦10 million (roughly $7,000) to develop their products or launch their ventures.

Growth Lab comes next for startups already generating revenue and showing real traction. These teams receive $100,000 in equity investment plus hands-on help scaling operations and connecting with institutional investors. Teams that secure outside funding may even qualify for matching funds.

The Bank of Industry, Nigeria's leading development finance institution, is running the program. The organization just completed its biggest year ever, disbursing N636 billion to businesses across Nigeria in 2025, with N43 billion going specifically to digital and creative sectors.

Vice President Kashim Shettima chairs the program's steering committee and emphasized its mission to create sustainable jobs for Nigeria's young population. The country has one of the world's youngest demographics, with enormous untapped entrepreneurial potential.

The Ripple Effect

Over time, the iDICE Startup Bridge expects to support more than 500 Nigerian tech startups. That's 500 potential employers, innovators, and problem solvers getting structured support instead of trying to figure everything out alone.

The program represents a shift in how early-stage capital reaches African entrepreneurs. Instead of scattered initiatives in major cities, this creates a national pipeline accessible to founders regardless of location or connections.

Applications for the first Founders Lab cohort close April 20, giving aspiring entrepreneurs just over a month to apply at the program website. Selection follows clear, published criteria focused on merit and potential.

For thousands of Nigerians sitting on business ideas or struggling to scale past their first customers, the bridge just got a lot shorter.