Federal Govt’s $617m iDICE Programme Takes Off With 185 Cohort

The federal government’s $617 million Investment in Digital and Creative Enterprises (iDICE) Programme has recorded a major milestone with the onboarding of 185 founders into the inaugural cohort of its Startup Bridge Founders Lab.

The development follows a rigorous assessment process that culminated in the selection of the founders from thousands of applicants nationwide, marking one of the first significant achievements in implementing the broader iDICE initiative.

Launched in 2023, iDICE is a flagship Federal Government programme designed to accelerate innovation, youth entrepreneurship, and economic diversification. The initiative is co-financed by the African Development Bank (AfDB), Agence Française de Développement (AFD), and the Islamic Development Bank (IsDB), with the Bank of Industry serving as both the executing agency and a financing partner.

Beyond providing access to funding for startups, the programme is structured as a long-term economic development intervention to strengthen Nigeria’s digital and creative sectors. Its targets include establishing 66 innovation hubs and centres of excellence across the country, training up to 300,000 young Nigerians in market-relevant digital and creative skills, and supporting hundreds of startups through financing and investment-readiness programmes.

One of the programme’s key founder-support initiatives is the Startup Bridge, which consists of two tracks: the Founders Lab for early-stage innovators and the Growth Lab for post-Minimum Viable Product (MVP) startups with demonstrated traction.

The Founders Lab attracted more than 7,000 completed applications after its portal opened in March 2026, reflecting the growing entrepreneurial drive among Nigerian youths and the demand for structured startup support. Following a multi-stage evaluation process, 500 applicants were shortlisted, with 185 founders eventually selected based on innovation potential, market relevance, and execution capacity.

Speaking on the significance of the initiative, Vice President Kashim Shettima, who chairs the programme’s Steering Committee, said the government was investing in sectors that would shape Nigeria’s future economy.

“By unlocking the creative and digital potential of our youth, the Federal Government is investing in sectors that will define Nigeria’s future economy. Programmes like iDICE are creating pathways for young innovators to build globally competitive businesses from Nigeria,” he said.

The selected cohort reflects the programme’s commitment to inclusivity and national representation, with founders drawn from all six geopolitical zones of the country. Participation extended beyond traditional startup hubs such as Lagos and Abuja, while women entrepreneurs account for 38 per cent of the cohort, exceeding the programme’s 30 per cent gender inclusion target.

Commenting on the onboarding exercise, Managing Director of the Bank of Industry, Dr. Olasupo Olusi, described the initiative as a strategic investment in Nigeria’s next generation of entrepreneurs.

According to him, the selected founders embody the ambition, creativity, and resilience of a new generation of innovators capable of building scalable businesses, creating jobs, attracting investment, and contributing to national economic transformation.

The programme’s National Coordinator, Ife Adebayo, expressed confidence that the initiative would help nurture globally impactful startups. He noted that participants will undergo a 12-week intensive programme focused on mentorship, operational strengthening, business development, and investment preparedness.

Top-performing founders will also qualify for grants of up to N10 million to accelerate the growth of their ventures.

Applications for the Startup Bridge Growth Lab, targeted at more mature startups, are expected to open in the coming weeks.

As implementation of the wider iDICE programme progresses, additional interventions are planned across digital infrastructure development, enterprise financing, creative industry support, and skills development, all aimed at positioning Nigeria as a leading force in Africa’s digital and creative economy.