The Federal Government has onboarded 185 founders into the inaugural cohort of the iDICE Startup Bridge Founders Lab after a competitive selection process that attracted more than 7,000 applications nationwide.
The onboarding marks a major milestone in the implementation of the Investment in Digital and Creative Enterprises programme, a $617m initiative launched in 2023 to promote innovation, youth entrepreneurship and economic diversification.
The programme is co-financed by the African Development Bank, the Agence Française de Développement, and the Islamic Development Bank, while the Bank of Industry serves as the executing agency and one of the financiers.
The selected founders emerged after a multi-stage review process that narrowed over 7,000 completed applications to 500 shortlisted candidates before 185 entrepreneurs were chosen based on innovation potential, market relevance and execution capacity.
The iDICE programme said the Startup Bridge initiative is one of its direct founder-support interventions and consists of the Founders Lab for early-stage innovators and the Growth Lab for post-minimum viable product startups with existing traction.
Speaking on the significance of the initiative, the Chairman of the iDICE Steering Committee and Vice President, Senator Kashim Shettima, said the programme would help unlock the potential of young Nigerians and strengthen the country’s future economy.
“By unlocking the creative and digital potential of our youth, the Federal Government is investing in sectors that will define Nigeria’s future economy. Programmes like iDICE are creating pathways for young innovators to build globally competitive businesses from Nigeria,” Shettima said.
The programme stated that the cohort reflects national inclusion, with founders drawn from the six geopolitical zones, extending participation beyond established startup hubs such as Lagos and Abuja.
It added that women entrepreneurs account for 38 per cent of the cohort, exceeding its 30 per cent gender inclusion target.
Commenting on the onboarding, the Managing Director of the Bank of Industry, Dr Olasupo Olusi, described the initiative as a strategic investment in Nigeria’s next generation of entrepreneurs.
“These founders represent the ambition, creativity, and resilience of a new generation of Nigerian innovators. Through iDICE, we are helping to build a stronger pipeline of scalable businesses that can create jobs, attract investment, and contribute meaningfully to Nigeria’s economic transformation,” Olusi said.
The National Coordinator of the programme, Ife Adebayo, expressed confidence that the initiative would nurture globally competitive startups.
The selected entrepreneurs will undergo a 12-week intensive programme focused on mentorship, business development, operational strengthening and investment readiness. Top-performing participants will also be eligible for grants of up to N10m to accelerate their ventures.
Beyond startup financing, the iDICE programme is expected to establish 66 innovation hubs and centres of excellence across the country, train up to 300,000 young Nigerians in digital and creative skills, and provide financing and investment-readiness support for hundreds of startups.
The programme said applications for the Growth Lab track would open in the coming weeks as implementation expands to include infrastructure development, creative sector support, enterprise financing and digital skills development.
According to the organisers, the broader objective is to position Nigeria as a leading force in Africa’s digital and creative economy.