The SIA Foundation, in collaboration with TheNest Innovation Technology Park, has announced the launch of the second cohort of the SIA Startup Foundry, an incubator program designed to support Nigerian entrepreneurs. This initiative aims to provide early-stage startups with the resources and mentorship needed to refine their business models and accelerate growth.
Program Highlights:
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Seed Funding: A total of $10,000 in grants will be awarded to six exceptional businesses. The distribution is as follows: First Prize: $3,000; Second Prize: two businesses receiving $2,000 each; and three additional awards of $1,000 each.
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Comprehensive Training: Participants will engage in a four-week online bootcamp covering essential aspects of business development, strategy refinement, and market positioning.
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Mentorship and Networking: Access to industry experts and a network of like-minded entrepreneurs will be provided, facilitating guidance and collaboration opportunities.
Eligibility Criteria:
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Operational Tenure: Businesses must have been operational for 1-2 years.
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Founder’s Age: Applicants should be between 20-35 years old.
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Focus Areas: Startups should be technology-enabled and operate within sectors such as healthcare, education, agriculture, light manufacturing, renewable energy, or recycling.
Application Process:
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Online Submission: Complete the application form available on the SIA Foundation’s website. Required documents include a regulatory ID card, business plan with financial projections, and a three-month bank statement.
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Interview and Pitch: Shortlisted candidates will undergo video interviews and submit a pitch video.
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Demo Day: Finalists must attend a demo day in Lagos to present their business ideas to a panel of judges.
Entrepreneurs ready to elevate their startups are encouraged to apply promptly to seize this opportunity for growth and development.
Application Deadline: February 28, 2025.
To apply or for more information visit the website.
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