Nigeria Launches iDICE Startup Bridge With $100,000 Ticket Size

STARTUP VENTURE CAPITALMarch 16, 2026 at 11:53 PM UTC

TLDR

iDICE Startup Bridge program launched by Nigeria's federal government offering grants and equity investments for early stage startups
Grants up to ₦10 million and $100,000 equity investment provided for idea stage founders and startups with viable products
Implemented by Bank of Industry, funded by African Development Bank, Agence Française de Développement, and Islamic Development Bank to boost Nigeria's digital and creative sectors

Nigeria’s federal government launched the iDICE Startup Bridge, a new program that offers grants and equity investment for early stage startups. The initiative will provide grants of up to ₦10 million, about $7,215, for idea stage founders and equity investment of $100,000 for startups with a minimum viable product. Applications for the first cohort are now open.

The program is implemented by the Bank of Industry and funded by the African Development Bank, Agence Française de Développement and the Islamic Development Bank under the Investment in Digital and Creative Enterprises program. Launched in 2023 with $617.7 million in funding, the initiative aims to increase investment in Nigeria’s digital and creative sectors and expand startup opportunities across all 36 states and the Federal Capital Territory.

The first pathway, called Founders Lab, is a 12 week program designed for idea stage and prototype founders. Each year 250 participants will receive training and mentorship, while the top 100 founders who complete program milestones will receive grants of up to ₦10 million. A second pathway, called Growth Lab, will support startups that have already launched products. Selected companies will receive $100,000 in equity investment and support to scale operations and connect with investors.

Vice President Kashim Shettima said the program aims to expand entrepreneurship opportunities across Nigeria. The Bank of Industry said it recently disbursed ₦636 billion to enterprises across sectors, including ₦43 billion to digital and creative industry projects. Applications for the Founders Lab close on April 20, 2026.

Key Takeaways

Nigeria has one of the largest startup ecosystems in Africa and has attracted billions of dollars in venture capital over the past decade. However funding has been concentrated in a small number of cities and sectors. Lagos accounts for most startup investment in the country and fintech companies have historically captured the largest share of venture capital. Many early stage founders outside major cities struggle to access capital, mentorship and networks needed to build startups. Government programs such as the Investment in Digital and Creative Enterprises aim to address these gaps by combining grants, training and investment support. The program also reflects a broader policy push to expand Nigeria’s digital economy and support youth entrepreneurship. Development finance institutions such as the African Development Bank and the Islamic Development Bank are increasingly funding startup programs in emerging markets to strengthen local innovation ecosystems. These initiatives attempt to build a pipeline of companies that can later attract venture capital and scale into larger businesses. Whether government backed programs can produce globally competitive startups will depend on execution, mentorship quality and the ability to connect founders with follow on investors after the initial support phase.

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