Nigeria Launches $7K Grants for 100 Startup Founders

Nigeria's federal government just launched the iDICE Startup Bridge, a two-track program designed to turn innovative ideas into thriving businesses across every corner of the country. Applications opened March 16 for the first cohort of 250 founders who will receive training, mentorship, and real funding to build their dreams.

The Founders Lab welcomes idea-stage entrepreneurs with early prototypes through a 12-week intensive program. Participants learn how to validate their concepts, build business models, and create minimum viable products. The top 100 founders who hit program milestones will receive grants up to ₦10 million (about $7,215) to develop or launch their ventures.

The Growth Lab, launching later, targets startups that already have traction and revenue. Selected companies receive $100,000 in equity investment plus support to scale operations and connect with institutional investors. Startups that secure outside funding may even qualify for additional match funding.

Implemented through the Bank of Industry and financed by the African Development Bank, Agence Française de Développement, and the Islamic Development Bank, the program represents the most ambitious early-stage support initiative Nigeria has launched in years. It deliberately reaches all 36 states plus the Federal Capital Territory, breaking away from the concentration of startup capital in Lagos and Abuja.

"Founders Lab is a bridge that connects potential to proof, and proof to capital," said Cindy Ezerioha, Head of Founders Lab. "This programme is built for people with innovative ideas, early prototypes, or unanswered questions about how to take their first real step."

The Ripple Effect

The program signals a major shift in how Nigeria nurtures innovation nationwide. By spreading opportunity beyond established tech hubs, it creates pathways for talented entrepreneurs who previously lacked access to capital and networks. Vice President Kashim Shettima called it "a real opportunity to build or scale" that will "reshape early-stage enterprise development and innovation outcomes over time."

The Bank of Industry recently disbursed ₦636 billion to enterprises across Nigeria, including ₦43 billion to creative and digital projects. That institutional muscle now backs a program designed specifically for first-time founders taking their earliest steps.

Applications close April 20, 2026, with selections based on published merit criteria. Founders can apply at www.idicestartupbridge.ng to join the first cohort of 250 entrepreneurs building Nigeria's next generation of businesses.