iDICE opens growth lab, targets Nigerian startups with $350,000 funding

The federal government’s Investment in Digital and Creative Enterprises (iDICE) Programme has opened applications for Growth Lab, a 12-week accelerator designed to help high-potential Nigerian startups scale their businesses through mentorship, investment readiness training and funding opportunities of up to $350,000.

Implemented by the Bank of Industry under the iDICE Startup Bridge initiative, the programme will select 12 tech-enabled startups from Nigeria’s six geopolitical zones for intensive business development support.

According to a statement issued by the organisers, Growth Lab builds on the earlier Founders Lab programme, which supports idea-stage entrepreneurs. The new phase is aimed at startups that have already developed a minimum viable product (MVP) and demonstrated early market traction.

The organisers said the accelerator is designed to strengthen venture fundamentals, prepare startups for external investment and connect founders with industry experts, strategic networks and market expansion opportunities.

National Coordinator of the Programme, Ife Adebayo, said selected startups would receive structured growth support, investment readiness training and a cash investment of $100,000 (or its naira equivalent) in exchange for 7.5 per cent equity, subject to terms and conditions.

He added that participating startups could also qualify for up to $250,000 in follow-on funding if they meet specified growth milestones during the programme.

Adebayo said eligible applicants must be founders of tech-enabled startups that have been operating for no more than 12 months and are resident in any of Nigeria’s six geopolitical zones.

He explained that applicants must have reached the post-MVP stage and demonstrate market validation through customers, users, pilot projects, partnerships, waitlists or other indicators of demand. Participants must also commit to the programme’s hybrid format.

The 12-week programme will combine virtual sessions with two weeks of physical engagements in Lagos focused on collaboration, learning and business growth.

Applications opened on July 15, 2026, and will close on August 19, 2026 through the iDICE Startup Bridge portal.

The organisers also encouraged female founders to apply, noting that successful participants will be selected through a transparent, merit-based evaluation process.