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Ayomide Ogunleye

Ayomide is the Editorial Associate at The FATE School of FATE Foundation. She has 5+ years of experience researching, creating learning and development content, implementing search engine optimization strategies and managing content systems.

Mastercard Foundation Fund for SMEs ($126 Million Funding)

The Mastercard Foundation Fund for Resilience and Prosperity is a seven-year, US$ 126 million Fund that aims to support Small and Medium-sized Enterprises (SMEs) across the agriculture, climate adaptation and digital economy sectors in 20 countries in Sub-Saharan Africa. The Mastercard Foundation Fund for Resilience and Prosperity is the second phase of a program from the Mastercard Foundation. The first phase was the Mastercard Foundation Fund for Rural Prosperity, an eight-year program established in 2014. That Fund supported 38 participants from 15 countries in Africa innovating and scaling financial products and services targeting the rural population with a large focus on agriculture. One major highlight is the Fund enabled over 5.3 million people to have access to financial products and services, exceeding an initial target of 1 million. Now, the main objective of the Resilience and Prosperity Fund is to unlock enterprise growth and catalyze, scale-up and sustain the creation of dignified and fulfilling work opportunities for young women and men, young people with disabilities and refugee youth. Interventions of the Mastercard Foundation Fund for Resilience and Prosperity The Fund for Resilience and Prosperity aims to address a broad spectrum of SME-specific challenges as well as macro issues using four interventions: 1. Challenge Fund: Offering direct financial support through a challenge fund to address the resource flow barriers faced by SMEs looking to scale-up and, in turn, create and sustain employment opportunities for young women and men. 2. Connect Fund: Providing investor readiness support to the SMEs and negotiation of partnerships with potential financiers to ensure sustainability and growth. 3. Technical Assistance (TA): Provision of technical assistance and capacity building to address the barriers concerning human capital and access to markets. 4. Convening and influencing: Convening relevant stakeholders to encourage an enabling business environment through experienced partners and digital platforms to drive systematic change and address the issues that impede the creation of work opportunities for the youth, especially young women. Thematic Sectors The Fund will focus on SMEs that are implementing solutions in three (3) key sectors: agriculture, climate adaptation and digital economy. Click here for more information about the resilience and prosperity fund. Click here to apply. Also Read: Storytelling Strategies for Accessing Funding

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NSIA Prize for Innovation (NPI) 

Can your startup create ground-breaking, tech-enabled solutions in your industry? If the answer is yes, submit your application to NSIA Prize for Innovation (NPI 2.0). Up to US$220,000 to be won in prizes and an all expense paid training programme in Silicon Valley, USA. NSIA Prize for Innovation (NPI) is sponsored by the Nigeria Sovereign Investment Authority (NSIA) to bolster innovation in Nigeria’s digital ecosystem, and support homegrown solutions that can drive socio-economic development.  NPI is designed to encourage and support ingenuity within the digital ecosystem and fund early-stage, growth driven solutions, with the aim of driving transformative economic growth, enhancing the nation’s productive capacity, and creating jobs.  The programme is a multi-year commitment by the NSIA to empower budding Nigerian innovators, in a bid to catalyse the rise of the digital economy. The Programme will adopt a four-staged competition at the end of which ten (10) finalists will emerge and win varied prizes. NSIA Prize for Innovation Programme Stages Pre-selection Stage: Innovators submit their applications through the application portal to provide details regarding their digital products/services and business models. Accelerator Stage: The top 100 finalists will participate in a one-month virtual training, followed by an in-person bootcamp for the top 25 finalists. A mini demo day will be held to select the top 10 finalists that will proceed to the demo day. Demo Day: Each of the 10 finalists will be allotted timeslot to present their pitch to the judges. The judging panel will review the submission and rank the winners from 1st to 10th. The event will be attended by a combination of local and foreign technology industry experts and investors. Post Demo Day: The top 10 finalists will participate in an all expense paid, 5-weeks in-person training programme at a top-rated US university in Silicon Valley and also have an opportunity to pitch to angel investors to secure additional funding and obtain global exposure! BONUS: Exclusive chance to secure additional investment and global exposure by pitching to angel investors! Application Requirements 1. One of the founders must be a Nigerian Citizen 2. Applicants must be 18 years or older 3. Applicants must be running Innovative tech-focused or tech-enabled startups 4. The startup should have operated for not less than six months and operating in or within Nigeria 5. The startup should be looking to raise a seed round 6. The startup should have developed a minimum viable product (MVP) 7. Applicants must be willing and able to commit to a 10-week fast-track accelerator programme 8. Only one application is permitted per applicant irrespective of the sector. Subsequent applications will be disqualified. NSIA Prize for Innovation Target Sectors The programme will focus on technology-enabled startups in the following sectors: For more information, click here. Apply here on or before March 3, 2024.

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Flour Mills Nigeria Innovation Competition (Win N5m Grand Prize)

Call for Applications for the Flour Mills Nigeria (FMN) Innovation Competition is ongoing. The call for applications, with the theme, Driving Food Self-Sufficiency in Nigeria Through Precision Agriculture is open in two categories. If you’re a Nigerian MSME or student, you stand the chance of winning prizes of N5 million, N3 million or N2 million. FMN’s Prize for Innovation was established to encourage new ideas and innovations in the food and agro-allied sector in Nigeria and across the continent and how these can impact and enable a sustainable food system in Nigeria. This is the third edition of the Flour Mills Nigeria Annual Prize for Innovation competition, and it will will focus on discovering innovators who are actively and innovatively driving the attainment of food self-sufficiency in Nigeria’s food and agro-allied sector. This year’s campaign is designed to facilitate the promotion of local content development in Nigeria’s food and agro-allied sector while also encouraging sustainable food production. Participants in this year’s contest will develop novel solutions to facilitate a paradigm shift from dependence on imported raw materials to developing local capacities to sustain local communities. Who can apply for the Flour Mills Nigeria Innovation Competition?  Category 1 – Micro, Small, and Medium-sized Enterprises (MSMEs) Click here to apply for Category 1 on or before the 15th February 2024. Category 2 – Nigerian Students (Undergraduate and Postgraduate Level)  Click here to apply for Category 2 on or before the 15th February 2024.

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Entrepreneurship World Cup Pitch Competitions (US $1 million Cash Prizes)

Is your company solving some of the world’s biggest challenges? Entrepreneurship World Cup (EWC) wants to hear from you. About the Entrepreneurship World Cup Since 2019, The Entrepreneurship World Cup (EWC) has become one of the biggest and most diverse startup pitch competitions and support programmes of its kind, featuring more than 370,000 entrepreneurs from over 200 countries and territories while offering winners life-changing prizes. EWC has awarded $4 million in cash prizes and $150 million in in-kind prizes and provided opportunities for entrepreneurs to reach the next stage in their company’s journey. Moreover, hundreds of coaching and training hours have been delivered, along with high-value entrepreneurship programmess tailored to all three participating stages in the World Cup. Eligibility Requirements for the Pitch Competition Prizes and Awards of the Entrepreneurship World Cup For more information about this competition, click here. Apply here on or before April 1, 2024. Also Apply: HealthTech Hub Africa Accelerator

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SBN Nourish Nigeria Challenge: NutriPitch 2023

Apply for the SBN Nourish Nigeria Challenge 2023 NutriPitch Competition, presented by GAIN × FATE Foundation’s ScaleUp Lab Agribusiness Program. The Scaling Up Nutrition Business Network (SBN) is hosting the 2023 Edition of SBN’s Annual pitch competition in partnership with FATE Foundation. FATE Foundation is the longest-running enterprise support organization with over 22 years of delivering pre-incubation, incubation, and accelerator programs. The project is a Business Model Research project and is part of a larger program grant of EUR80m focused on six African countries (Benin, Ethiopia, Kenya, Mozambique, Nigeria, and Uganda) The aim of this partnership is to identify innovative business models that are focused on accelerating low-income consumer’s access to nutritious food while being profitable; that is, the approach that can enable a company to capture value (and thus be profitable) while still providing the food at a price the customers are able and willing to pay. In addition, the project will provide technical assistance to entrepreneurs in the nutrition space to strengthen their capacity and develop their business models leveraging on innovation to improve access to nutritious foods in Nigeria. Program Highlights of the SBN Nourish Nigeria Challenge Capacity Building on: Eligibility Requirements for the NutriPitch 2023 You must: Benefits of the SBN Nourish Nigeria Challenge For more information about the the NutriPitch competition, click here. Apply here on or before December 3, 2023.

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HealthTech Hub Africa Accelerator

HealthTech Hub Africa Accelerator (HTHA) is a hybrid pan-African health tech accelerator with a physical co-working space in Kigali, Rwanda. Founded by the Novartis Foundation and supported by the Global Fund and the Patrick J. McGovern Foundation, HTHA aims to address these challenges by actively integrating innovations into public health systems through collaboration with key government stakeholders. The accelerator aims to offer entrepreneurs a powerful platform to create sustainable businesses and meaningful health impact. Thematic Areas of the HealthTech Hub Africa Accelerator Benefits of the HealthTech Hub Africa Accelerator For the Growth Startups: For the Scale ups: For all: Eligibility Criteria The Accelerator Program is open to all HealthTech startups with the following mandatory conditions: For growth startups: For scale ups: For more information, click here. Apply here on or before December 11, 2023 Also Apply: CatchLight Global Fellowship for Visual Storytellers ($30,000 Award)

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CatchLight Global Fellowship for Visual Storytellers ($30,000 Award)

The CatchLight Global Fellowship addresses a pressing need in the visual storytelling industry by supporting innovative leaders. Acting as an incubator, it provides financial support in the form of $30,000 grants, fosters personal growth, and develops networking and partnerships. The fellowship awards visual storytellers who are poised to ignite social change through their photography, videography or leadership by leveraging the power of visuals to create impactful  audience engagement and innovative distribution models.  You can apply for the award if you are a: Eligibility Requirements for the CatchLight Global Fellowship Proposals will be assessed on how they employ and strengthen new methods and potential solutions with an eye towards one or more of the following target outcomes: Benefits of the Fellowship Note: A CatchLight Global Fellowship is awarded for life. Fellows are encouraged to share expertise beyond their Fellowship cohort year, and CatchLight hopes that Fellows will offer and seek mentorship within the community throughout their careers.  Application Requirements for the CatchLight Global Fellowship Download: Free msmehub.org budget template Click here for more information about the fellowship. Apply for the CatchLight Fellowship here on or before December 9, 2023.

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Equipment Required for Starting a Cake Business

Launching a cake business in Nigeria is not only profitable but also exciting. Done right, it has the potential to generate substantial revenue. To ensure a smooth and professional operation, it’s essential to invest in the right equipment when setting up your business. These tools can significantly enhance efficiency, speed, and the overall quality of your work. Equipment Required for Starting a Cake Business in Nigeria 1. An Oven: A domestic oven should serve you during your startup phase. As your business expands, you can get a locally fabricated oven to make more cakes at a time, although it comes with the challenge of regulating the heat. Alternatively, you can acquire an industrial oven instead. While it is recommended that you acquire an industrial oven when you expand, you can acquire an industrial oven at the startup phase if you can afford it. 2. Mixer: The mixer eases the process of production. It is best to invest in a good one. 3. Refrigerator: For your cake business, it’s crucial to have a refrigerator to store creams and butters and to cool cakes before decorating. Download Free eBook: Setting Up a Cakes and Dessert Business in Nigeria 4. Work Table: You will need a good work surface for cutting and trimming your cakes and kneading your fondant icings. 5. Camera/Smart Phone: You need a good camera to take quality pictures of your products for advertising and publicity. Where you cannot afford a camera, invest in a good smart phone. 6. Utensils: Pans, turntable, electric scale, measuring spoons, cups, bowls, spatula, pallet knife, and basic decorating tools. 7. Raw materials: When it comes to buying raw materials, it is usually better to buy just enough raw materials for each production and then you plough back the profits after sales into the business. Do not buy materials in bulk especially when you do not have orders as this will tie down your funds unnecessarily. Please note that if you want to focus on other pastries and desserts like doughnuts, the equipment required are the same as you would use for cakes except that you may need to add some specialized pans and cutters. Download this comprehensive business guide to delve into the ins and outs of initiating and expanding a cake business in Nigeria. From initial startup costs to navigating regulatory requirements, discover everything you need to know for the successful growth of your cake venture. Culled from FATE Foundation’s Business Entry Guide on Setting Up a Cakes and Dessert Business in Nigeria.

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Medplus Built to Last N30,000,000 Grant Competition

Stand a chance to win up to ₦30,000,000 in the Medplus Built to Last Grant Competition. About Medplus For three incredible decades, Medplus, now the largest health and beauty retail chain in Nigeria, has revolutionized the pharmacy concept. Medplus is more than a pharmacy! It’s innovative delivery approach empowers the community it serves with knowledge and care as a trusted wellness partner. Founded in 1993 by Joke Bakare, a pharmacist and young mother of two children in her twenties, the dream has been built into an extraordinary legacy of excellence of over 100 stores nationwide and still counting. As it celebrates its 30th anniversary, it aims to give up to ₦30,000,000 to women-led businesses in Nigeria. Eligibility Criteria for the Medplus Built to Last Grant Competition Download: msmehub.org’s Business Plan Sample Click here for more information about the Medplus Built to Last Grant Competition. Apply here on or before November 3, 2023.

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ChangeMakers Seed Funding Contest 

The StartupXs ChangeMakers Seed Funding Contest 2024 is for start-ups and social enterprises who want to create positive change in their community. This year’s competition comes with even more benefits and opportunities, not only for the winner but also for all the participants. All early-stage business innovators, start-ups, and social enterprises are invited to apply. StartupXs supports entrepreneurs through the early stages of business development. The organisation believes that start-ups and social enterprises can play a key role in solving social challenges, not only in their community but globally. Eligibility Requirements for the ChangeMakers Seed Funding Contest Contest Requirements Benefits of the ChangeMakers Seed Funding Contest Click here for more information about the Changemakers Seed Funding Opportunity. Also read the application rules and regulations here. Apply here on or before 31st December 2023. Also apply: Jim Leech Mastercard Foundation Entrepreneurship Fellowship

ChangeMakers Seed Funding Contest  Read More »

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