When getting started, many entrepreneurs begin by scraping together any personal funds they can find, plus from family and friends. In many cases, using the money you have instead of borrowing is good, but the good news is, there are quite a few places to get funding (places you’ve probably overlooked).
Read on for a guide to business plan competitions and awards for Nigerian entrepreneurs and which type might be right for you. If you think you might qualify, check out the links and apply.
She Leads Africa
is a social enterprise dedicated to supporting young African women and their journey towards professional success. The SLA Accelerator is a 3-month program designed to identify, support and fund the next generation of Nigeria’s brightest female entrepreneurs and offers. The winner of a Demo Day will receive a N2 million investment from She Leads Africa Fund.
Youth Entrepreneurship Support (YES) Programme
The N10 billion is an ambitious programme by the Bank of Industry (BOI) aimed at addressing youth unemployment in Nigeria which is currently over 50%.
Tony Elumelu Entrepreneurship Programme (TEEP)
Nigerian billionaire investor and philanthropist Tony Elumelu has committed $100 million to create 10,000 entrepreneurs across Africa over the next 10 years. TEEP, a Pan-African entrepreneurship initiative of the Tony Elumelu Foundation, is a multi-year programme of training, funding, and mentoring, designed to empower the next generation of African entrepreneurs.
BET – Building Entrepreneurs Today
Diamond Bank’s – business grant marks another great opportunity for entrepreneurs all over Nigeria in the following industries (fashion and lifestyle, agriculture, information and communication technology) to present their businesses and innovation and have the opportunity of being selected as one of the top 50 businesses that will be provided with extensive training, mentoring and advisory by the Enterprise Development Centre with the top 5 businesses winning 3 Million naira each.
The Cola-Cola Africa Foundation Entrepreneurship programs
provide students with the tools needed to prosper as a young adult. The main objective is to help today’s youth understand the importance of self-reliance and the impact they all have on the future of the economy by addressing the issue of unemployment in Africa and helping to create a culture of entrepreneurship. The Coca-Cola Africa Foundation has invested $3.1 million in programs that promote entrepreneurship amongst the youth in 12 countries.
is a social investment programme that aims to help young Nigerians explore the option of starting their own business as a real and viable career option. It provides support, access to training, guidance, and business mentorship to young entrepreneurs and potential entrepreneurs between the ages of 18 and 35. The programme operates mainly in the Niger Delta region and aims to inspire, encourage and support young people aged 18-35 to start up their own businesses through the provision of finance and training for young entrepreneurs.
Google Hash Programming Competition for Students and Professionals in Africa, Europe & Middle East
is a team-based programming competition organized by Google for students and industry professionals (18+) across Europe, the Middle East and Africa. You pick your team and programming language, Google picks a real-life engineering problem to solve.
Argidius-ANDE Finance Challenge(AAFC)
The Argidius Foundation and the Aspen Network of Development Entrepreneurs (ANDE) have announced the , a new competition designed to support innovative ways to provide capital to small businesses in emerging markets that require $20,000-$250,000 in early stage capital. The goal of the challenge is to accelerate the development of innovative and sustainable solutions in a number of emerging markets, ideally establishing models that can be replicated.
We hope this article helped. Tell us in the comments!