Inaugural Cohort Selected for iDICE Program
The Federal Government’s Digital and Creative Enterprise Investment (iDICE) program has officially inducted 185 founders into the first cohort of the Startup Bridge Initiative. This marks a significant milestone in the launch of a $617 million initiative aimed at bolstering Nigeria’s digital and creative economy.
Founders Lab to Support Growth-Focused Startups
Chosen from a competitive pool of over 7,000 applications since the program’s portal opened in March 2026, these entrepreneurs will participate in Founders Lab, which is one of the two tracks under the Startup Bridge. This segment is specifically tailored to support early- and growth-stage startups in their development journey.
Background of the iDICE Initiative
Initiated in 2023, the iDICE program is a collaborative effort co-funded by the African Development Bank (AfDB), Agence Française de Développement (AFD), and the Islamic Development Bank (IsDB), with implementation led by the Bank of Industry. The initiative aims not only to provide financial support to startups but also to foster a more vibrant ecosystem across Nigeria.
Focus on Ecosystem Development and Skills Training
In addition to funding, the iDICE program seeks to enhance the broader ecosystem, which includes establishing 66 innovation hubs nationwide and offering digital and creative skills training for up to 300,000 young Nigerians. This multifaceted approach aims to create a robust infrastructure for future entrepreneurs.
Selection Criteria Emphasizes Innovation and Market Relevance
After an extensive evaluation process that initially shortlisted 500 candidates, the final selection of 185 founders was based on innovation potential, market relevance, and execution capabilities. This selection officially launches the first cohort of Startup Bridge Founders Lab.
Government Commitment to Economic Development
Vice President Kassim Shettima, who chairs the Program Steering Committee, emphasized the initiative’s significance. He stated that the Federal Government’s investment in sectors targeting Nigeria’s economic future is vital for unlocking the creative and digital potential of the youth. Initiatives like iDICE are paving the way for young innovators to establish globally competitive businesses from Nigeria.
Inclusivity and Gender Representation
The selected cohort aims to promote national inclusivity, drawing founders from all six geopolitical zones of Nigeria. Notably, women entrepreneurs constitute 38% of this group, surpassing the program’s original gender inclusion goal of 30%, thus fostering a diverse entrepreneurial landscape.
Supporting Growth Through Mentorship and Funding
Dr. Olasupo Orusi, Managing Director of the Bank of Industry, remarked that this initiative represents a significant investment in Nigeria’s emerging generation of entrepreneurs. He noted that these founders embody the ambition and creativity of a new wave of innovators. The iDICE program is designed to create a stronger pipeline of scalable businesses capable of generating jobs and attracting investment, thereby significantly contributing to Nigeria’s economic transformation.
Intensive Program for Selected Founders
National Coordinator Mr. Ife Adebayo expressed confidence that the mentorship and training provided in the intensive 12-week program will cultivate Nigeria’s next generation of globally impactful startups. This program will focus on operational strengthening, business development, and investment preparedness, with top performers eligible for grants of up to N10 million to expedite their ventures.
Future Opportunities in the iDICE Program
In the coming weeks, applications for the Growth Lab track will open, further expanding opportunities for aspiring entrepreneurs. As the broader iDICE program continues to unfold, additional initiatives in areas such as infrastructure development, creative sector support, business financing, and digital skills expansion are anticipated. This comprehensive strategy aims to establish Nigeria as a preeminent player in Africa’s digital and creative economy.
