The Grooming Endowment Trust (GET), in partnership with Kickoff Africa, has unveiled an initiative aimed at supporting promising startups by providing them with an opportunity to secure up to N10 million in equity-free investment.
Additionally, selected startups will gain access to valuable market opportunities and expert mentors.
This initiative, known as the GETaccelerated program, is specifically designed to empower early-stage founders in Nigeria. The application process for GET Accelerated is open until Saturday, July 29. The program aims to lend its support to startups operating in crucial sectors such as financial services, healthcare, education, agriculture, digital infrastructure, social impact, media, mobility/logistics, and commerce (e-commerce or social commerce).
According to the organizers’ statement, following a rigorous screening and selection process, ten startups will be chosen to receive a combined sum of N55 million in equity-free funding.
Moreover, they will benefit from access to expert mentors and various market opportunities, which will help them scale their businesses effectively.
To be eligible for this program, startups must be officially registered and incorporated with the Corporate Affairs Commission (CAC).
Additionally, they should 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.
Furthermore, the organizers emphasized that the startups’ unique business models should have a direct or indirect positive impact, be it 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 marginalized communities, through the maiden edition of the GETAccelerateprogramme.”
