The Lagos State Employment Trust Fund (LSETF) is set to commence its Female Founders & Funders programme, a six to eight-week initiative targeting thirty female entrepreneurs across Lagos, as the state continues to deepen support for women-led businesses within its innovation ecosystem.
The programme, delivered under the Lagos Innovates platform in partnership with Afriglocal VC, is structured to strengthen business models, improve investor readiness, and facilitate strategic connections between founders and funders. It will culminate in a Demo Day scheduled for June 5, where selected founders will pitch their ventures directly to potential investors.
Since its launch in 2024, the Female Founders & Funders programme has grown into one of the more competitive entrepreneurship initiatives in Lagos. This year, 178 female founders applied, with only 30 selected, underscoring both the increasing interest in the programme and the rigour of its selection process.
Speaking on the cohort, Oyindamola Egbeyemi, Director of Programmes and Coordination at LSETF, said the initiative goes beyond a standard training model. “This is not just an orientation, it is the beginning of something impactful. Out of 178 applications received this year, 30 participants have been admitted, reflecting the high standard and competitiveness of the programme,” she stated.
Across its first two editions, the programme has supported 38 founders and trained 34 aspiring female investors, while disbursing N9 million in grant funding to women-led businesses. The initiative aligns with LSETF’s broader mandate, which spans access to finance, business support services, employability training, tech ecosystem support, and infrastructure access.
LSETF Executive Secretary, Feyisayo Alayande, emphasised the programme’s role in addressing structural employment challenges in the state. “Unemployment remains a critical issue in Lagos State, and at LSETF, we are intentional about understanding the real challenges people face. Our programmes are designed to address these pain points and deliver measurable impact,” she said.
Providing the investor perspective, Mope Abudu, Managing Director at Afriglocal VC, highlighted the need for deliberate capital allocation to female-led ventures. “Supporting female founders requires more than conversation, it requires capital, representation, and intentionality. We are building a network of female investors who not only understand the realities of business but are also prepared to invest and scale women-led ventures,” she noted.
Nigeria Startup News reports that for the selected founders, the programme represents a critical pathway to funding, scale, and long-term sustainability within Lagos’ rapidly evolving startup landscape.
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