GOSIMA Opens ₦10 Million Grant Competition for Young Nigerian Founders

• Three winners will share ₦10 million, with ₦5 million for first place.

• Applicants must be aged 18–35 and building technology-enabled businesses.

• Selected founders will receive business training and pitch preparation.

• Applications close September 28, 2026.

September 18, () – Young Nigerian entrepreneurs can apply for the GOSIMA Innovation Fund 2026, which combines business development support with ₦10 million in grants shared among three winners.

Funded by Gosima Group and powered by SMFEST International, the programme targets founders aged 18–35 building technology-enabled businesses with potential to grow and create jobs. Applications close on September 28, according to the application announcement reported by MSME Africa.

For founders considering an application, the funding breakdown is essential. The largest individual grant is ₦5 million, rather than the ₦10 million advertised for the competition as a whole.

How the Funding Will Be Shared

The winner will receive ₦5 million, followed by ₦3 million for second place and ₦2 million for third.

Organisers separately advertise access to a ₦90 million equity-funding opportunity after SMFEST. Their official announcement describes this as an opportunity, without guaranteeing investment for every participant.

The two funding offers therefore require separate consideration. The three grants have specified award amounts. The equity opportunity could involve investors taking an ownership stake in participating businesses.

Details such as investment amounts per company, ownership percentages and disbursement dates are not specified in the announcement reviewed. Founders would need those terms before assessing an investment offer.

What Applicants Should Prepare

Selected entrepreneurs will receive an intensive accelerator, expert-led masterclasses, business growth support and pitch preparation. Organisers also promise networking, visibility and opportunities to present businesses before experts.

The stated focus on solving problems, creating jobs and scaling gives applicants a useful starting point. A clear application should explain the customer problem, how technology supports the solution and how the business could serve more customers.

Evidence such as paying customers, repeat orders or a working product could help substantiate those claims. These are practical ways to demonstrate progress, rather than published minimum entry requirements.

Interested founders can apply through the GOSIMA application portal linked by SMFEST. Applicants should distinguish the support available to selected participants from the grant awards reserved for the three winners.