This is a great funding opportunity for early stage Nigerian startups. Nigeria ‘s Sterling Bank Plc, has partnered with the Nigerian Economic Summit Group (NESG), Venture Capital for Africa, Verakki and GreenHouse Capital, to fund early-stage ventures with grants up to N10,000,000 at the #NES25 Startups Pitch holding on the 6th of October 2019 in Abuja.
Here Is The Deal
- Sterling Bank Plc is leading the investment opportunity, supported by Nigerian Economic Summit Group (NESG), Venture Capital for Africa, Verakki and GreenHouse Capital
- The funding opportunity is targeted at Nigeria ‘s early-stage ventures or startups.
- These startups may get grants up to N10,000,000 ($ 27,646.46.)
- Top three winners would win cash prizes ranging from ₦2.5 million to ₦10 million as well as on-going support from NESG and its partners through the NESG Innovation Fund. A ₦1 million audience choice prize would also be awarded at the venue.
- Dapo Martins, Chief Marketing Officer at Sterling Bank disclosed that the shortlisted early-stage startups who make it to the final rounds and meet the pitching requirements will be invited to pitch before venture capitalists and investors at the summit.
- Each startup will have five minutes to pitch to prospective investors and 10 minutes to answer questions from them and it is expected that the session will also connect 10 start-ups with venture capitalists and investors.
- Participation in the #NES25 Start-ups Pitching Event holding on the 6th of October 2019 will be strictly on invitation and shall not be open to all summit participants.
Participation Criteria
Eligibility for application and participation include that the startups:
- Must be registered in Nigeria with the Corporate Affairs Commission (CAC)
- And must have been doing business for no more than five years.
- Business focus are sectors of the economy that include ICT, manufacturing, renewable energy, Agribusiness, Creative, media and entertainment, Education, Financial services, Healthcare, Leisure and travel, Transport and logistics, Water, sanitation and hygiene
- Each application must be accompanied by a business plan that should not be more than three pages.
- For Nigeria ‘s startups to benefit from this funding opportunity, their applications should also contain a Pitch Deck.
Application Timelines
Application closes August 31, 2019
About NES25
The Nigerian Economic Summit Group (NESG) organises the Annual Nigerian Economic Summit in partnership with the Federal Government of Nigeria through the Federal Ministry of Budget and National Planning. It has become an annual dialogue and indeed the flagship event of NESG and the Federal Government that has provided a credible and widely recognised platform for top policymakers and corporate leaders.
In 2017, the NESG introduced a Startups Pitching Event as part of the annual Nigerian Economic Summit (NES). Many start-up entrepreneurs struggle to get the funds they need to grow their business and, in some cases, even require a mentorship, professional advisory services, among others.
Innovators and entrepreneurs from all over Nigeria would have an opportunity to pitch their start-ups and this is a platform for such businesses to collaborate and interact with individuals and organisations interested in promoting entrepreneurship and an opportunity to pitch to experienced investors and obtain great feedback and possibly capital.
Click here to register now
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.