Nigeria’s Bank of Industry (BOI) has launched the iDICE Startup Growth Lab, a new accelerator programme aimed at helping promising technology startups scale their businesses through funding, mentorship, and business development support.
The 12-week initiative will provide $350,000 in funding to a cohort of 12 startups, with participants drawn from each of Nigeria’s six geopolitical zones. The programme is designed to strengthen the country’s innovation ecosystem by ensuring entrepreneurs from across the nation have access to resources that can help transform early-stage ideas into high-growth businesses.
The accelerator forms part of the broader Investment in Digital and Creative Enterprises (iDICE) programme, an initiative focused on expanding opportunities for startups operating in Nigeria’s digital and creative economy.
Beyond financial support, participating founders will receive intensive mentorship from experienced entrepreneurs, investors, and industry experts. The curriculum will cover key areas including product development, business strategy, fundraising, market expansion, and investor readiness, equipping startups with the skills needed to attract additional capital and grow sustainably.
A distinguishing feature of the iDICE Startup Growth Lab is its nationwide approach. By selecting startups from all six geopolitical zones, the programme seeks to promote a more balanced innovation ecosystem, ensuring entrepreneurial opportunities extend beyond Nigeria’s traditional technology hubs such as Lagos and Abuja.
Nigeria remains one of Africa’s largest startup markets, with its fintech, e-commerce, healthtech, agritech, and software sectors continuing to attract significant venture capital investment. However, entrepreneurs outside major cities often face limited access to funding, mentorship, and business support services. The new accelerator is expected to help bridge this gap by providing structured support to founders regardless of their location.
The launch also reflects the Bank of Industry’s growing role in promoting entrepreneurship as a driver of economic diversification, job creation, and digital transformation. By backing innovative businesses with both capital and technical expertise, the bank aims to strengthen Nigeria’s competitiveness in Africa’s rapidly evolving technology landscape.
As the country’s startup ecosystem continues to mature, initiatives such as the iDICE Startup Growth Lab are expected to play an important role in nurturing the next generation of high-growth companies, expanding regional innovation, and encouraging technology-driven solutions to local and continental challenges.
