12 Nigerian startups to access $350,000 funding under iDICE Growth Lab

Nigeria’s Micro, Small and Medium Enterprises

By Juliet UmehNo fewer than 12 high-potential Nigerian startups are set to access funding of up to $350,000 under the Growth Lab accelerator programme of the iDICE Startup Bridge initiative.

The programme, an initiative of the Federal Government’s Investment in Digital and Creative Enterprises, iDICE, Programme implemented by the Bank of Industry, BOI, has opened applications for startups seeking growth support, investment readiness training and access to strategic business networks.

In a statement, the organisers said the 12-week accelerator will select 12 tech-enabled startups, two each from Nigeria’s six geopolitical zones, to participate in an intensive hybrid programme designed to help them scale and attract investment.

According to the organisers, Growth Lab is the second stage of the iDICE Startup Bridge founder support pathway, following the Founders Lab programme, which equips early-stage innovators with the tools required to validate and refine their business ideas.

They explained that the accelerator is designed for startups that have developed a Minimum Viable Product, MVP, and are looking to strengthen their business fundamentals while preparing for external investment.

National Coordinator of the Programme, Mr Ife Adebayo, said selected startups would receive structured business support, mentorship from industry experts, investment readiness coaching and opportunities for market expansion.

He said: “Selected founders will gain access to structured growth support, investment readiness preparation, access to industry experts, market expansion pathways, a $100,000 cash investment, or its naira equivalent, for 7.5 per cent equity upon entering the programme, subject to terms and conditions, as well as up to $250,000 in potential follow-on investment if certain growth milestones are achieved.”

According to Adebayo, applications are open to tech-enabled startups that have operated for not more than 12 months, with founders resident in any of Nigeria’s six geopolitical zones.

He added that eligible startups must have moved beyond the MVP stage and demonstrate market validation through users, customers, pilot projects, partnerships, waitlists or other indicators of demand.

Adebayo explained that the programme will run as a 12-week hybrid experience, combining virtual engagements with two weeks of physical sessions in Lagos focused on collaboration, learning and business growth.

He disclosed that applications, which opened on July 15, 2026, will close on August 19, 2026.He encouraged eligible founders, particularly women-led startups, to apply, assuring that all applications would be assessed through a transparent, merit-based selection process aligned with the programme’s published criteria.

The organisers said the initiative is expected to strengthen Nigeria’s innovation ecosystem by helping promising startups secure the capital, mentorship and business support needed to scale sustainable ventures and attract local and international investors.