Job creation: Startups to get N10million boost

Grooming Endowment Trust (GET), in collaboration with Kickoff Africa, has announced a plan to offer selected startups the opportunity to secure up to N10 million in equity-free investment, along with access to expert mentors and valuable market opportunities.

According to a statement from the non-profit organisation, the GETaccelerated programme is designed to empower early-stage founders in Nigeria.

Applications for GETaccelerated are open until Saturday, July 29, it said, adding that GETaccelerated aims to support startups operating in key sectors such as financial services, healthcare, education, agriculture, digital (economy) infrastructure, social impact, media, mobility/logistics, and commerce (e-commerce or social commerce).

A statement by organisers noted that after an extensive screening and selection process, 10 startups will receive a cumulative sum of N55 million in equity-free funding, access to expert mentors, and numerous market opportunities to scale their businesses.

To be eligible, startups must be registered and incorporated with the Corporate Affairs Commission (CAC), have a minimum viable product (MVP) with some traction or paying users, and have been in operation for a period of 6 months to two years.

It noted that the unique business model should directly or indirectly create some form of impact (social, economic, socioeconomic, or political) within communities.

Operations Manager, GET, Michael Adoghe said: “We are thrilled to hold the second edition of GETaccelerated and provide early-stage founders with the resources they need to scale their ventures.

“With equity-free funding, mentorship, and market opportunities, we believe this program will be a catalyst for growth and innovation for Nigerian startups.”

“Founding Partner, KickOff Africa Fola Olatunji-David,said: “We experienced firsthand how supporting entrepreneurs create more opportunity and impact in underserved and marginalised communities, through the maiden edition of the GETAccelerated programme.”

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