In Nigeria, there are loads of individuals (wanapreneurs) with great ideas in mind. But sadly accessing funds to kick-start their idea seems to be almost impossible. In a country like Nigeria, there are only a hand full of fundraising platforms that supports start-ups which makes accessing funds the greatest night mare for start-ups. Most aspiring entrepreneurs here usually throw in the towel even before ever commencing their start-up. So in this article, I will show you some of the most trusted and reliable platforms you can pitch your idea to and hope to raise funds for your start-up this year.
Tony Elumelu Entrepreneurship Programme (TEEP).
The Tony Elumelu Entrepreneurship Programme (TEEP) is a yearly programme launched by one of Nigerias business men, Mr. Tony Elumelu via Tony Elumelu Foundation (TEF). The program was launched in 2015 with the goal of providing 10,000 USD seed funding for entrepreneurs across Africa. Every year, the programme selects 1,000 entrepreneurs across Africa.
winners are selected based on market feasibility, clear financial models and a capable team to run the business.Each program cycle begins with an application process opened from January 1st until March 1st.
Grant: $5000.
Note: application portal is opened and registrations are ongoing.
Africa’s Young Entrepreneurs Empowerment Nigeria (AYEEN )
AYEEN is looking to finance ideas & small business in various sectors of the economy. Winners would be awarded their respective prizes without any stake for the organizers. Their goals are to give Nigerian entrepreneurs financial support, mentorship and resources needed to start and scale their businesses. AYEEN invests in small businesses starting from the idea stage.
Applicants are to fill a j18 form or submit a business plan to AYEEN Lagos office.
Grant: ₦ 500,000 – ₦ 1,000,000
Lagos Angel Network (LAN)
The Lagos Angel Network (LAN) is a group of investors who provide seed funding, mentorship and business supports to startup entrepreneurs. Especially those at the infant or early stage.
They use platforms such as VC4A (Ventures Capital for Africa) to connect with start ups at infant stage. They also manage investment processes for early-stage investors. The Network aims to contribute to the creation of jobs and facilitate entrepreneurship and economic development In Nigeria
They organise pitch events, where startup ideas are presented to the network by entrepreneurs.
You can register your company with them here .
Grant: between ₦ 500,000 and ₦ 5,000,000
Note: Business Angels expect to earn a healthy return on their investments from your startup, unlike TEEP & AYEEN.
The Next Titian
The Next Titan is an entrepreneurial platform geared towards the expression of business insights. The platform is a yearly program with the aim of supporting Nigerian entrepreneurs.
This year, the program is holding its fourth season. entrepreneurs seeking to demonstrate their business ideas, acumen & commercial insight could apply on the platform. Successful applicants have to go on a 14 weeks series of trials
Grant: ₦ 5,000,000 and an SUV car.
To apply for the Next Titan, visit their website.
YouWIN Connect Nigeria.
It is a yearly program organized by the federal government of Nigeria to support ideas and already established businesses, job creation and wealth creation via enterprise education for young Nigerians. Applicants are required to submit business plans and go through series of mentorship programs