Applications are now open for Startup Foundry Cohort 3, an incubator programme by the SIA Foundation designed to empower early-stage Nigerian entrepreneurs with funding, mentorship, structured training, and strategic support.
This initiative aims to nurture scalable businesses and strengthen Nigeria’s growing entrepreneurial ecosystem.
Application Deadline: 13 March 2026
About Startup Foundry
The SIA Startup Foundry is an incubation programme created to provide entrepreneurs with a supportive environment to refine their business models, validate their ideas, and build sustainable enterprises.
Recognizing the resilience and creativity of Nigerian entrepreneurs, SIA Foundation established Startup Foundry to address common startup challenges such as limited funding, skill gaps, and infrastructure barriers.
Through this programme, 50 selected businesses will undergo structured support over a defined period, while six outstanding businesses will receive seed funding from a $10,000 fund.
Seed Fund Allocation
Six exceptional businesses will receive seed capital from a total pool of $10,000 distributed as follows:
- First Prize: $3,000
- Second Prize: Two businesses receive $2,000 each
- Three additional awards: $1,000 each
This funding is intended to help founders either kickstart or scale their operations.
Programme Offerings
Participants in Startup Foundry Cohort 3 will benefit from:
1. Seed Funding
Selected top businesses receive financial capital to strengthen growth and operations.
2. World-Class Training
50 entrepreneurs will undergo structured training covering essential aspects of business growth, operations, and sustainability.
3. Mentorship
Participants will receive guidance from experienced industry leaders to help navigate strategic, operational, and growth challenges.
4. Networking Opportunities
Entrepreneurs will engage with peers, partners, and ecosystem players to expand their business networks.
5. Legal & Administrative Toolkit
Participants gain access to support that helps them navigate regulatory requirements and product development challenges.
6. Community
Entrepreneurs join a network of founders for collaboration, accountability, and shared growth.
Focus Areas
The programme supports technology-enabled businesses in the following sectors:
- Healthcare
- Education
- Agriculture
- Light Manufacturing
- Renewable Energy
- Recycling
Startups must demonstrate innovation and growth potential within these industries.
Eligibility Criteria
To qualify, applicants must meet the following requirements:
1. Scalability & Growth Potential
Applicants must demonstrate high growth potential by submitting:
- A snapshot of customer feedback, testimonials, or reviews (links or evidence allowed)
- A detailed business plan with financial projections
- A three-month bank statement (business account or founder’s account showing business-related transactions)
2. Market Potential
The business plan summary must clearly outline:
- Market size
- Industry trends
- Target market
- Competitive analysis
3. Founder’s Track Record
Applicants must submit:
- Resume
- Reference letter(s)
- Media reports, awards, or recognition (if available)
4. Business Uniqueness
The idea must demonstrate originality and competitive differentiation.
5. Business Tenure
The business must have been operational for 1–2 years.
6. Founder’s Age
Founder must be between 20 and 35 years old.
Application Process
Step 1: Online Application
Applicants must complete the online application form.
Required Supporting Documents:
- Regulatory ID Card
- Business Plan
- Bank Statement for the last three months
Optional (But Advantageous):
- Reference Letter
- Media coverage, awards, or recognition
- Customer feedback or testimonials
Step 2: Video Interview & Pitch
Shortlisted candidates will be required to:
- Submit a pitch video
- Participate in interviews
Programme Structure
- 4 weeks of online training
- Mandatory attendance at Demo Day in Lagos
- Programme commencement: Q1 2026
Demo Day will provide participants the opportunity to present their businesses and connect with ecosystem stakeholders.
Programme Objective
The primary objective is to strengthen 50 Nigerian startups by providing structured support that enhances scalability, sustainability, and competitiveness.
SIA Foundation’s broader mission focuses on creating measurable positive change in Africa, particularly for women, children, and youth. Startup Foundry serves as a vehicle for advancing economic empowerment and entrepreneurial growth.
Application closes: 13 March 2026