The Federal Government has selected 185 startup founders from more than 7,000 applicants for the first cohort of the Startup Bridge Founders Lab, a key initiative under Nigeriaโs $617 million Investment in Digital and Creative Enterprises (iDICE) programme.
The selection marks one of the first major implementation milestones under the iDICE programme, a government-backed initiative designed to strengthen Nigeriaโs digital and creative economy through startup support, skills development, innovation hubs, and access to financing.
According to programme organisers, applications opened in March and attracted over 7,000 founders from across the country. Following an initial review process, 500 applicants were shortlisted before 185 entrepreneurs were selected for the inaugural cohort.
The founders will participate in a 12-week accelerator programme focused on mentorship, business development, operational support, and investment readiness.
The Startup Bridge initiative is being implemented through two tracks: the Founders Lab for early-stage entrepreneurs and the Growth Lab for startups that have already achieved market traction and are seeking support to scale.
The programme forms part of the broader iDICE initiative, a $617 million intervention jointly financed by the Federal Government, the African Development Bank (AfDB), the Agence Franรงaise de Dรฉveloppement (AFD), and the Islamic Development Bank (IsDB). The Bank of Industry serves as the executing agency.
Vice President Kashim Shettima, who chairs the programmeโs steering committee, described the initiative as an investment in the countryโs future economy, saying the government aims to unlock opportunities for innovators and entrepreneurs across Nigeria.
Officials said the selection process was designed to ensure national representation, with founders drawn from all six geopolitical zones.
The programme also recorded strong female participation. Women account for 38 percent of the selected founders, surpassing the programmeโs target of 30 percent female representation.
The inclusion figures highlight an effort to expand opportunities beyond Nigeriaโs traditional startup hubs such as Lagos and Abuja, where venture capital activity has historically been concentrated.
Beyond startup acceleration, the iDICE programme seeks to strengthen the countryโs innovation ecosystem through large-scale investments in infrastructure and talent development.
Programme documents show that iDICE plans to establish 66 innovation hubs and centres of excellence nationwide while supporting the training of up to 300,000 young Nigerians in digital and creative skills.
The initiative is also expected to provide financing opportunities for startups operating in sectors ranging from financial technology and artificial intelligence to agritech, healthtech, education technology, and the creative industries.
Managing Director of the Bank of Industry, Olasupo Olusi, said the programme represents an investment in entrepreneurs capable of creating jobs, attracting capital, and contributing to economic growth.
The selected founders will undergo intensive training and mentorship during the programme, with top-performing participants becoming eligible for grants of up to โฆ10 million to support the growth of their ventures.
Applications for the second phase of the Startup Bridge initiative, known as the Growth Lab, are expected to open in the coming weeks.
The launch of the first cohort comes at a time when African startups are facing a more challenging funding environment, with venture capital inflows slowing across the continent amid global economic uncertainty.
For policymakers, the programme represents a test of whether public-sector-backed innovation funding can help bridge financing gaps, accelerate entrepreneurship, and strengthen Nigeriaโs position as one of Africaโs leading technology ecosystems.
By the numbers
Programme size: $617 million
Applications received: More than 7,000
Shortlisted founders: 500
Selected founders: 185
Female participation: 38%
Innovation hubs planned: 66
Youths targeted for training: 300,000
Maximum grant available: โฆ10 million
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