Nigeria Opens Applications for iDICE Founders Lab

Founders of early stage startups in Nigeria can now apply for the second cohort of the iDICE Startup Bridge Founders Lab. The programme offers business training, mentorship and access to grant funding. It is open to entrepreneurs who are building new businesses or developing early stage products. The Founders Lab is part of the Federal Government’s Investment in Digital and Creative Enterprises (iDICE) initiative. The programme supports startups in Nigeria’s digital and creative sectors. The programme runs for 12 weeks. Founders will refine their products, test their ideas with customers and improve their business models. They will also learn what investors expect before backing a startup. Entrepreneurs, investors and business advisors will mentor participants throughout the programme.

Grant funding for selected startup

Founders who complete the programme and meet the required milestones may receive non-equity grants of up to ₦10 million. The funding can support product development, hiring, expansion or other business costs. Participants will also pitch their businesses during a Demo Day attended by investors and ecosystem partners.

Building on the first cohort

Applications for the second cohort follow strong interest in the first intake. More than 7,000 founders applied during the previous round. The programme selected 185 startups after several stages of evaluation. The organisers say they want to reach founders from across Nigeria, not only those based in major startup hubs. The Founders Lab supports startups in the early stages of growth. Businesses with existing customers can apply for the Growth Lab. That programme focuses on startups preparing to scale and raise larger investments. The Bank of Industry runs the iDICE initiative with support from the African Development Bank, Agence Française de Développement and the Islamic Development Bank. This version brings the percentage of long sentences well below the Yoast recommendation while also making the article read more like a straightforward news report.