N2m Grant Opportunity: Grooming Endowment Trust Launches 4th Cohort to Support Nigerian Startups
- Grooming Endowment Trust (GET) has opened an application for the fourth cohort of its GETAcclerarate initiative
- The scheme is aimed at empowering 10 founders with startup funds, including mentorship, to get started
- GET said prospective participants must meet a set of criteria to qualify for the training and eventual funding
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
Small business owners and startup founders in Nigeria now have a new shot at funding, as Grooming Endowment Trust (GET) officially launches the fourth cohort of its Accelerated programme.
The initiative offers entrepreneurs up to N2 million in grants, alongside mentorship, skill-building workshops, and access to investors.
Source: Getty Images
GET Compass: Supporting startups and SMEs
The programme targets 10 promising founders, adding to the 20 startups already supported in previous cohorts, which collectively received over N150 million in equity-free funding.
The initiative has quickly become a lifeline for startups struggling to access capital in Nigeria’s challenging business environment.
At the heart of the initiative is the GET Compass, a funding and support framework designed specifically for small and medium-scale businesses (SMEs). Through GET Compass, business owners can not only access N2 million in financial support but also benefit from a robust package that enhances their chances of long-term success.
Key benefits include:
- Financial Support: Access to equity-free funding to scale operations.
- Mentorship: One-on-one guidance from industry leaders and entrepreneurs.
- Networking: Connections with innovators, investors, and business leaders.
- Skill Development: Workshops to boost business acumen and technical know-how.
- Market Access: Insights and support for entering new markets effectively.
Who can apply?
The eligibility criteria ensure that the grant supports businesses with real potential for growth:
- Applicants must be 18 years or older.
- Businesses must be less than three years old.
- The founder must be available for a two-week workshop in Lagos.
- Applicants must run a registered business.
- Evidence of business activity and continuity must be provided.
Applications are now open, and GET is encouraging young entrepreneurs to seize the opportunity.
Linking to Nigeria’s broader push for SME growth
The initiative complements the Nigerian government’s GEEP scheme, which was recently relaunched to provide soft loans and grants to MSMEs nationwide
While the GEEP programme focuses on empowering millions of small traders and artisans nationwide, GET’s initiative zeroes in on startups and early-stage founders with high growth potential.
Together, they demonstrate a growing national effort to diversify the economy, create jobs, and foster innovation.
The road ahead for entrepreneurs
Nigeria remains one of Africa’s most dynamic startup hubs, but entrepreneurs often cite limited access to capital and mentorship as their biggest challenges. Initiatives like GETAccelerated and GEEP are vital steps toward closing these gaps.
Source: UGC
For many founders, the opportunity to secure up to N2 million in equity-free funding, combined with mentorship and networks, could mark the turning point for their businesses.
As the economy tightens, programmes like these may be the spark that helps Nigeria unlock its next wave of innovation-driven growth.
FG rolls out ₦250,000 free grants for MSMEs
Legit.ng earlier reported that Nigeria’s Vice President, Kashim Shettima, has unveiled the Federal Government’s state-of-the-art information, communication and technology centre for Micro, Small and Medium Enterprises (MESME) in Cross River state.
This is part of the current administration’s drive to empower entrepreneurs with tools and skills for work.
The unveiling also coincided with the 8th Expanded National MSME Clinics, which brought together federal government agencies, such as CAC, NAFDAC, BOI, and SMEDAN, to tackle business owners’ challenges on-site.
Source: Legit.ng
