Deadline: January 31, 2022
The Oxford Foundry and FMDQ Private Markets Program – Innovate Nigeria Program, is a two (2) week intensive accelerator program designed to support innovation-driven Start-Ups in Nigeria in becoming scalable enterprises that have the potential to create transformative social and economic impact within the Nigerian economy.
1. A bespoke curriculum focusing on core entrepreneurship and venture building skills
2. 1-to-1 coaching with Oxford Foundry network of resident experts
3. A tailored leadership training curriculum, directed towards building resilient entrepreneurs
4. Introductions to investors
5. Opportunities to pitch to these investors
We expect each venture and its founders to be present and engaged over the entire two-week period of the Programme. This form must be completed by the lead applicant, who is a co-founder or a high-level executive in the business.
If shortlisted, key founding members of the team must be available for:
Interviews: February 28 – March 11 2022 (held over two weeks)
Innovate Nigeria: March 28 – 08 April 2022 (two-week program)
This programme is aimed at accelerating Nigeria-based ‘Innovation-Driven Start-ups’ from all sectors of the Nigerian economy.
We define an Innovation-Driven Start-up as:
- The company is based on an innovation that gives a significant competitive advantage when compared to existing companies – for instance this could include, but is not limited to, technology, business model, or business process
- Medium to long-term focus on selling their product offering at a regional or global level (e.g., other markets in Africa and/or globally)
- Often must sell equity in their company to support ambitious growth plans
- An organisation employing two people or more and generating revenues between USD 2,000 to USD 100,000 annually*
The ventures, in addition, is expected to be/have:
- Registered and operating in Nigeria
- Built a team – minimum of two members
- Validated the problem
- Developed and began testing an MVP (Product-Market fit)
- Ambitious vision – tackling a big problem that directly impacts one of the SDGs
- Knowledge of their market
- Diversity & Inclusion commitment – gender, race/ethnicity, etc.
- Willingness and capacity to contribute financial resources towards expansion activities
- Presentation of comprehensive business plan/expansion strategy
- Potential to scale and grow their business into a sustainable enterprise
*If your business is not yet generating an annual revenue of at least USD 2,000, but it meets the criteria of an ‘Innovation-Driven Start-up’ and the criteria described above, your application will still be considered.