There is a new funding opportunity for startups based in Nigeria. The Small & Medium Enterprise Development Agency of Nigeria (SMEDAN) in partnership with the Abuja Enterprise Agency (AEA) has announced a startup funding opportunity for the country’s teeming startup ecosystem under the National Business Plan Competition (NBPC) initiative.
Startups The Competition Is Targeting
The funding opportunity is targeting startups doing business in Nigeria in the following areas.
Growth
Startups that achieved significant growth especially in the area of scaling up (Micro to Small or Medium), revenue and Assets during 2019. Thus, if Business Growth is the area of strength for your Enterprise, this category is suitable for you.
Social Impact Category
Enterprise which have made significant impact on the society using a sustainable and scalable business model. E.g. financial inclusion, human rights, human capital development etc. Thus businesses which have achieved documented Social Impact can choose this category.
Best use of innovation category
Is innovation at the core of your business? Has your Business leveraged the latest technology, the best to develop and scale its value proposition using a sustainable business model (e.g IoT, Blockchain, AI/ML etc).
Climate and environmental impact category
This category is for Businesses that have had the most impact in healing or protecting the environment using a sustainable, scalable business model.
Privacy, data protection and compliance
This category is for Businesses that have achieved the most scale in helping people or companies manage and protect their private data and/or comply with regulatory requirements in an increasingly complex data protection and regulatory landscape.
Eligibility For Participation
To be considered, startups must:
- Be post revenue: that is, should be making money already.
- Have had at least one round of funding. This does not mean founder’s fund; it has to be external funding.
- Be based in Nigeria
- Be not more than 7 years old;
- Must have an innovative product with a sustainable business model.
How To Apply
Application closes on or before the 28th of January, 2020 and application may be made by visiting https://nbpc.org.ng/
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer.
He could be contacted at udohrapulu@gmail.com