FG launches $350,000 Startup Bridge Growth Lab for tech founders
The Federal Government has opened applications for the Startup Bridge Growth Lab, a 12-week accelerator offering up to $350,000 in combined equity investment and grant funding.
The Federal Government, through the Bank of Industry-backed iDICE initiative, opened applications for the Startup Bridge Growth Lab. The 12-week accelerator programme will select two post-MVP tech startups from each of Nigeria’s six geopolitical zones, offering up to $350,000 in combined equity investment and non-dilutive grant funding. Selected founders will undergo business training, mentorship and physical immersion sessions in Lagos to scale their solutions and attract international venture capital.
The programme is designed to support startups that have already developed a minimum viable product and are ready to scale. The focus on geopolitical zones is intended to ensure that innovation is distributed across the country, not just concentrated in Lagos and Abuja. The iDICE initiative is part of the government’s broader strategy to support the tech ecosystem and create jobs.
This echoes the 2020s tech incubation programmes, which have supported several successful Nigerian startups. The mechanism then was different, but the result was the same: a government trying to support innovation.
The winners: the startups that are selected for the programme; and the Nigerian tech ecosystem, which gains new players. The losers: the startups that are not selected; and the Nigerian government, which must ensure the programme is implemented effectively.
Bottom Line: Nigeria has launched a $350,000 accelerator for tech startups. The goal is to scale innovation across the country. The question is whether the programme will deliver results or just more bureaucracy.