The Bank of Industry (BOI) and the Investment in Digital and Creative Enterprises (iDICE) Programme have selected 185 founders from more than 7,000 applications received for the inaugural cohort of the iDICE Startup Bridge Founders Lab, marking a major step in the implementation of one of Nigeria’s largest innovation and entrepreneurship development programmes.
The selection follows a multi-stage assessment process that began after applications opened in March 2026. According to programme organisers, over 7,000 completed applications were submitted by founders across the country, reflecting growing interest in structured startup support and access to investment opportunities.
After an initial screening process, 500 applicants were shortlisted for further evaluation. The final cohort of 185 founders was selected based on criteria including innovation potential, market relevance, and execution capacity.
The Founders Lab is one of the flagship components of the iDICE Startup Bridge initiative, a founder-support programme designed to strengthen Nigeria’s startup ecosystem. It targets early-stage innovators and entrepreneurs seeking support to refine their business models, improve operational capacity, and prepare for investment opportunities.
Startup Bridge operates through two tracks. The first is the Founders Lab for early-stage startups, while the second is the Growth Lab, which is designed for post-minimum viable product (MVP) startups that already have market traction and are seeking support to scale.
The broader iDICE Programme was launched by the Federal Government in 2023 as part of efforts to promote innovation, youth entrepreneurship, and economic diversification. With a funding pool of $617 million, the programme is co-financed by the African Development Bank (AfDB), Agence Française de Développement (AFD), and the Islamic Development Bank (IsDB).
The Bank of Industry serves as both the executing agency and one of the financing institutions supporting the programme.
Although startup financing remains a major component of iDICE, the initiative was designed as a wider economic development programme with a focus on strengthening Nigeria’s digital and creative sectors. The programme aims to support infrastructure development, innovation hubs, creative industry financing, skills development, investment facilitation, and policy support.
As part of its long-term targets, iDICE plans to establish 66 innovation hubs and centres of excellence across the country. It also intends to train up to 300,000 young Nigerians in market-relevant digital and creative skills while supporting hundreds of startups with financing and investment readiness programmes.
Speaking on the significance of the initiative, Chairman of the iDICE Steering Committee and Vice President of Nigeria, Kashim Shettima, said the programme represents an investment in sectors that will play a critical role in the country’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.
One notable aspect of the inaugural cohort is its emphasis on inclusion. The selected founders were drawn from all six geopolitical zones, extending participation beyond traditional startup centres such as Lagos and Abuja.
The programme also exceeded its gender inclusion target. Women entrepreneurs account for 38 percent of the selected cohort, surpassing the programme’s minimum target of 30 percent female participation.
Commenting on the onboarding of the founders, Managing Director of the Bank of Industry, Dr. Olasupo Olusi, described the initiative as an investment in the future of Nigerian entrepreneurship.
“These founders represent the ambition, creativity, and resilience of a new generation of Nigerian innovators. Through iDICE, we are helping to build a stronger pipeline of scalable businesses that can create jobs, attract investment, and contribute meaningfully to Nigeria’s economic transformation,” Olusi said.
The 185 selected founders will now participate in a 12-week intensive programme focused on mentorship, business development, operational strengthening, and investment preparedness.
The programme is expected to help founders improve their business structures and position their startups for future funding opportunities. In addition, top-performing participants will become eligible for grants of up to ₦10 million to support the growth and expansion of their ventures.
National Coordinator of the iDICE Programme, Ife Adebayo, expressed confidence that the initiative would help nurture a new generation of globally competitive Nigerian startups.
With the Founders Lab now underway, attention is gradually shifting to the next phase of Startup Bridge. Applications for the Growth Lab track are expected to open in the coming weeks, providing another pathway for startups that have already validated their products and are seeking support to scale operations.
For Nigeria’s startup ecosystem, the selection of 185 founders from more than 7,000 applications highlights both the depth of entrepreneurial talent in the country and the increasing demand for programmes that combine mentorship, investment readiness, and access to funding. As iDICE expands its activities nationwide, the programme is positioning itself as a key platform for supporting innovation-driven businesses and accelerating the growth of Nigeria’s digital and creative economy.
