The Federal Government’s Investment in Digital and Creative Enterprises (iDICE) Programme has opened applications for Growth Lab, a 12-week accelerator designed to help early-stage Nigerian startups scale their businesses and access up to $350,000 in funding.
Implemented by the Bank of Industry under the iDICE Startup Bridge initiative, the programme will select 12 tech-enabled startups, with two representatives drawn from each of Nigeria’s six geopolitical zones, for intensive business support and investment readiness training.
According to the organisers, Growth Lab targets startups that have developed a minimum viable product and demonstrated early market traction through users, customers, partnerships, pilots or other demand indicators. It builds on the earlier Founders Lab programme, which supports idea-stage entrepreneurs.
National Coordinator of the programme, Ife Adebayo, said selected startups will receive mentorship, access to industry experts, market expansion opportunities and a $100,000 investment, or its naira equivalent, in exchange for 7.5 per cent equity, subject to agreed terms.
He added that startups meeting specified growth milestones during the programme could qualify for an additional follow-on investment of up to $250,000 to support further expansion.
Applications are open to tech-enabled startups that have operated for no more than 12 months and whose founders reside in any of the six geopolitical zones. The hybrid programme includes virtual sessions and two weeks of in-person activities in Lagos. Applications close on August 19, while female founders have been encouraged to apply.
