SIA Startup Foundry Cohort 3 For Early-stage Entreprenuers (Up To $10,000 Grant Funding)

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Applications are open for SIA Startup Foundry Cohort 3. SIA Startup Foundry is an incubator program that provides businesses with a conducive environment to develop their ideas, refine their business models, and bring their visions to life.

Nigeria’s entrepreneurial ecosystem continues to pulse with innovation and ambition, yet thousands of promising founders remain constrained by limited access to capital, structured mentorship, and institutional support. To address this critical gap, the Sola & Ibukun Adeyinka (SIA) Foundation has officially opened applications for Cohort 3 of its flagship SIA Startup Foundry, a high-impact incubation programme designed to equip early-stage founders with the training, funding, mentorship, and operational capacity needed to scale into sustainable, investable ventures.

SIA Foundation’s Startup Foundry is poised to transform 50 businesses in 6 months. They offer financing, mentorship, skill training, and networking opportunities to drive business challenges and amplify Nigeria’s entrepreneurial vibrancy.

SIA Startup Foundry Objectives

To provide mentorship and guidance to businesses in order to help them develop their ideas into viable business ventures.
To provide access to resources such as funding, advice, workspace, and networking opportunities to help businesses grow.
To help businesses improve their operations and scale up their business models.
To identify potential successful businesses and award them with seed funding to help them accelerate their growth

Focus Areas

Healthcare
Education
Agriculture
Light Manufacturing
Renewable Energy
Recycling

SIA Startup Foundry Benefits

Seed Fund – Six exceptional businesses will benefit from our $10,000 seed capital. The allocation is as follows: First Prize: $3,000, Second Prize: two businesses $2,000 each and three additional awards: $1,000 each
50 entrepreneurs to partake in a World-class training.
Mentorship – Navigate your startup journey with insights from industry maestros.
Connect & Conquer – Network, learn, and grow with the best in the business.
Legal & Admin Toolkit- Participants will have access to legal and administrative support to navigate the complex regulatory landscape and access product development support.
Community- Join a tribe of entrepreneurs that you can share, collaborate, and evolve with.

Eligibility Criteria

1. Scalability and growth potential.
Business should show high growth potential as evidenced by the submission of the following documents:
- Snapshot of customer feedback/ testimonials and reviews (proof or links can be shared).
- Submission of a Business Plan which includes detailed financial projections
- A 3-month statement for the business account /founders account showing transactions related to the business
Market Potential
- Validation will be derived from the business plan summary – market size, industry trends, target market and competitive analysis.
Founder’s Track Record
- To be evaluated through Resumes, Reference Letters and if available, media reports, awards or other recognition, which will be submitted as part of support documents.
Uniqueness of the business idea
Business Tenure
- The business must be operational for 1-2 years
Founder’s Age
- Founder’s age must be between 20- 35 years
Focus areas :
- Technology-enabled business in; healthcare, education , agriculture, light manufacturing, renewable energy, and recycling.