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Top 32+ Accelerators and Incubators for Startups in Nigeria

Oluwatobi Olowe
November 13, 2024
TechTok

accelerators for startups — Top 32+ Accelerators and Incubators for Startups in Nigeria

Accelerators for startups provide essential resources, mentorship, and funding opportunities that help startups scale and succeed.

With an estimated population of 218.5 million, Nigeria boasts one of Africa’s most significant startup ecosystems, often recognized as one of the “big four” alongside Egypt, Kenya, and South Africa.

The 2023 Global Startup Ecosystem Index places the country’s startup scene as a frontrunner in West Africa and 64th globally, focusing on the fintech sector.

Statista has indicated that the number of startups in Nigeria exceeded 3,360 in 2022, with a majority established in 2019, representing about 15% of the 481 ventures recorded in 2022.

The startup presence is especially pronounced in Lagos, Nigeria’s largest city.

Here’s a comprehensive list of the top 32+ accelerators and incubators for startups in Nigeria, focusing on those catering to local and African startups.

Also read – The Africa Tech Startup Forum Accelerator Programme is now Open for Applications

Table of contents

What are Accelerators and Incubators?
Top 32+ Accelerators and Incubators for Startups in Nigeria
How can I find the right accelerator for startups?
FAQs
Conclusion
References
Recommendations

What are Accelerators and Incubators?

Accelerators for startups are programs aimed at fostering the growth and success of early-stage companies.

These programs equip entrepreneurs with essential resources, mentorship, and capital, alongside a community of peers.

Incubators usually adopt a longer-term, immersive approach to aiding startups, offering workspace, guidance, and legal and accounting assistance services.

They typically engage with startups at the ideation or initial development stage, aiding in refining concepts and creating a marketable product or service.

Accelerators, in contrast, focus on expediting a startup’s expansion in a brief, often 3–6-month intensive program, providing seed investment and expert mentorship from seasoned entrepreneurs and investors.

Both incubators and accelerators are crucial in assisting startups to overcome the hurdles of establishing a thriving enterprise.

Top 32+ Accelerators and Incubators for Startups in Nigeria

Here are 32+ incubators and accelerators for startups in Nigeria.

1. Co-Creation Hub (CcHUB)

CcHUB fosters Nigeria’s technology community via its incubation initiatives.

The Pre-Incubation program is a six-month endeavor that aids entrepreneurs in crafting technological solutions to social challenges.

In CcHUB’s 12-month Incubation program, startups may obtain up to $25,000 and complimentary office space.

Additionally, CcHUB’s Accelerators for startups are 12-week programs aimed at helping startups attain continuous growth through enhancing their product development, financial management, investment preparedness, and business modeling competencies.

2. Wennovation Hub

Wennovation Hub is a pioneering innovation accelerator in Nigeria, boasting over a decade of operation.

It has propelled numerous startups to success and offers technological support to both emerging and established companies.

With office spaces in Ikeja, Abuja, Ibadan, and Barbados, they are equipped with all the essential tools to foster business innovation.

3. Greenhouse Capital

GreenHouse Capital serves as an accelerator for African startups, corporations, and investors to foster innovation across Africa.

The platform specializes in fintech and fintech-enabled startups, working alongside corporate partners to provide accelerator programs that catalyze business growth.

GreenHouse Capital commits to investing in visionary and tenacious founders within the fintech and related sectors.

As of now, GreenHouse Capital has conducted 10 accelerator programs.

4. Mest Africa

MEST Africa operates as a network of hubs and a technology entrepreneur training program, providing incubation for African tech startups.

Established in Ghana in 2008, the program consists of three main components: a one-year entrepreneurship training program, an Incubation & Seed Fund, and a year-long training program for Entrepreneurs-in-Training.

Successful candidates receive seed funding and comprehensive support to launch their businesses, aiming to expand throughout African markets.

MEST Africa maintains hubs in Cape Town, Nairobi, Lagos, and Accra, offering essential skills training, funding, and support to tech entrepreneurs across Africa.

5. Enspire

Enspire is an incubation program centered on technology for early-stage startups, aimed at nurturing viable businesses.

Since its inception in 2013, it has assisted more than 200 startups across diverse economic sectors in Nigeria.

Enspire conducts a quarterly ideation program for up to 20 startups, offering mentorship and guidance to create minimum viable products.

As a significant initiative by the Abuja Technology Village Free Zone Company (ATV), Enspire fosters economic development through innovation, entrepreneurship, and technology commercialization. Its base is in Abuja, Nigeria.

6. Venture Garden Group

Venture Garden Group is a prominent technology holding entity in Africa, striving to boost efficiency in sectors of significant impact throughout the continent.

The group delivers capital, technological platforms, and business advisory services to enterprises with inventive solutions.

Venture Garden Group furnishes the essential resources for product innovation and expedited growth by incubating and investing in tech companies.

Also read – Bolt launches a €20,000 Accelerator Program to Empower Drivers and their Families in Kenya

7. Itanna

Itanna is a venture that fosters entrepreneurship and technological innovation by offering acceleration for startups, investment, and mentorship.

Spearheaded by Honeywell Group, it runs a four-month accelerator program from its Enterprise Factory in Lagos, Nigeria.

The program aims to equip participating companies for the business world with expert insights, product-market fit testing, and investment support.

Tech startups in the program benefit from initial investment and direct guidance and mentorship from seasoned tech entrepreneurs and industry connoisseurs.

8. Google for Startups Accelerator Africa

Google for Startups Accelerator Africa is a virtual program designed for high-potential Seed to Series A technology startups across Africa.

The program welcomes startups from Algeria, Botswana, Cameroon, Côte d’Ivoire, Egypt, Ethiopia, Ghana, Kenya, Morocco, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Tunisia, Uganda, and Zimbabwe.

It aims to support growth-stage startups utilizing advanced technologies by connecting them with Google and industry experts to address their primary challenges.

Additionally, the program includes a specific track for women-led tech startups up to the Series A stage in Africa or those creating solutions centred on African needs, offering customized content and mentorship.

9. L5labs

L5lab is a technology incubator that fosters mobile and internet opportunities across Africa.

Founded by Chika Nwobi in 2009, L5lab invests in promising technology companies at the seed stage.

It also develops international partnerships to scale successful business models into West Africa and other Sub-Saharan regions, while aiding management teams in obtaining growth capital.

L5lab offers its portfolio companies strategic management support, CEO mentoring, financing, office space, and administrative services. Notable startups in L5lab’s investment portfolio include Jobberman, Decagon, and Cheki.

10. Startup Wise Guys

The SaaS Acceleration Program: Africa, presented by Startup Wise Guys, provides customized guidance and support from seasoned mentors and industry experts to assist startups in navigating the challenges of building a company and enhancing their market entry strategies.

The program’s main advantages include an investment of up to €65K for a maximum of 12% equity, weekly individual support in key areas like sales, marketing, and pitch development, and the chance to become part of a community with over 600 founders, 350 mentors, and 200 investors, along with access to leading industry professionals.

11. Seedstars

Seedstars is an international organization active in emerging and frontier markets, spanning regions like Latin America, Africa, the Middle East, Central-Eastern Europe, and Asia.

Based in Geneva, Switzerland, Seedstars is in over 90 countries and operates 15 offices globally.

The Seedstars Acceleration program focuses on assisting companies to develop a working prototype, secure their initial paying customers, and achieve product-market fit.

It offers personalized 1:1 mentoring alongside regular workshops, boot camps, KPI sessions, and networking events.

12. FasterCapital

FasterCapital is an international online incubator assisting startups in Nigeria.

They provide work-for-equity, along with technical and business development support.

They aid startups in creating an MVP or prototype and offer product design services.

Additionally, FasterCapital enhances a startup’s pitch deck, business plan, and financial operating model, and supports fundraising activities.

They assist startups in securing capital from diverse sources and maintain a network of entrepreneurs, investors, mentors, and regional partners within Nigeria.

13. Startupbootcamp

Startupbootcamp, a corporate-supported accelerator for African startups, was established in Africa in 2017.

It operates top-tier accelerator programs and offers access to an international network of corporate partners, investors, and mentors.

Its initiatives include the ASIP accelerator for startups transforming various industries, and iNOVO, dedicated to early-stage Nigerian startups tackling Covid-19 related challenges.

14. Pioneer

Pioneer is an international accelerator program designed to support innovative entrepreneurs without the means to create successful businesses.

This three-month remote program offers mentorship from an advisor and a select group of peers, aiding startups in expanding their network and achieving product-market fit.

In addition, participants are awarded a complimentary trip to San Francisco, assistance with incorporation, and various benefits in return for 1% equity.

Pioneer also proposes an optional investment of $20,000 without any fees. Applications are open here.

15. Future Hub

Future Hub is an incubator and investment fund that provides up to $300,000 for a 5% equity stake in pre-seed or seed-stage startups with specialized industry knowledge.

They provide incubation, acceleration for startups, and support for entrepreneurs, focusing on disruptive, technology-enabled business models in various sectors.

Future Hub aids African entrepreneurs and startup teams aiming at the African market by offering resources, expertise, capital, and networking opportunities from China.

16. Adaverse

Adaverse is a venture capital fund and one of the few accelerators for African startups dedicated to supporting blockchain entrepreneurs in Africa, Asia, and beyond.

It represents a partnership between EMURGO and Everest Ventures Group, offering financial support, mentorship, and technological infrastructure to expand Web 3 solutions.

On average, Adaverse prefers funding tickets of around $300k, with investments varying from $50k to $750k.

The firm boasts a worldwide presence with offices and teams in Nigeria, Dubai, Singapore, Hong Kong, Shanghai, and London.

17. Village Global

Village Global is an early-stage venture capital firm supported by renowned entrepreneurs such as Gates, Zuckerberg, and Bezos.

The accelerator provides three months of personalized support, weekly mentorship, specialized fundraising assistance, connections to potential customers and talent, along masterclasses led by experts.

They offer a $150k investment in exchange for 7% equity through a SAFE agreement and grant access to a lifelong peer community.

Founders participating in the program hail from diverse global locations, including Silicon Valley, Nigeria, India, and Colombia, among others. For applications, please visit the Village Global website.

Also read – UBA Confident in Meeting N500 Billion Capital Base Requirement – CFO

18. Village Capital

Village Capital is an organization that assists early-stage entrepreneurs in developing and expanding their ventures.

They concentrate on enterprises that offer solutions to social, economic, and environmental issues.

With experience in conducting over 150 accelerators, Village Capital supports startups in a range of sectors, providing founders with distinctive tools to enhance their efficiency, sustainability, impact, and inclusivity.

19. DFS Lab

DFS Lab is an organization that focuses on investments within Africa’s digital commerce sector.

They invite founders of African pre-seed startups to join their accelerator program.

This program provides as much as US$50,000 in funding and supplementary support for companies that contribute to the advancement of digital commerce on the continent.

Following the investment, DFS Lab offers customized growth strategies for each team, provides office hours, facilitates mentor pairing, and organizes meetings for the entire cohort.

20. Injini

Injini is an edtech accelerator and think tank based in Africa, providing programs and research support to innovative founders dedicated to improving educational outcomes across the continent.

As a registered non-profit organization, its sole mission is to enhance educational results in sub-Saharan Africa.

Injini accomplishes this by aiding stakeholders in enhancing the quality, accessibility, and pertinence of education throughout the region.

21. Mastercard Start Path

Start Path is Mastercard’s startup engagement program, offering various tracks to support capital raising, inclusivity promotion, and integration into the payments ecosystem.

Since its inception in 2014, it has welcomed participation from over 250 startups.

The tracks offered include Start Path Emerging Fintech for advanced-stage fintech startups, Start Path Crypto for cutting-edge crypto businesses, Start Path in Solidarity for fintech founders from underrepresented groups, Start Path Open Banking for startups in open banking and finance, and Start Path Small Business for solutions that help SMEs scale.

22. Techstars

Techstars is one of the few accelerators for African startups that supports early-stage companies via mentorship-focused programs.

They offer a $120,000 investment, direct mentorship, and lifelong network access.

Their portfolio encompasses various industries and locations, providing capital access, mentorship, and infrastructure support.

The ARM Labs Lagos Techstars Accelerator Program targets Africa’s early-stage startups and proptech companies.

23. Orange Corners

Orange Corners is an initiative designed to fortify the entrepreneurial ecosystem in Nigeria.

Its objective is to empower the youth to refine their business ideas and become successful entrepreneurs.

The program provides a six-month incubation period for budding entrepreneurs and acts as a conduit to the private sector.

It represents a partnership between the Kingdom of the Netherlands and a local service provider, delivering advantages to all stakeholders.

24. Bank of Industry (BOI) Incubation Program

The BOI Incubation Program supports startups with funding, mentorship, and business development services.

It targets various sectors, including manufacturing, technology, and agro-processing, helping new businesses establish and grow sustainably.

BOI aims to boost economic development and innovation in Nigeria by providing entrepreneurs with the resources they need.

25. Nigerian Communications Commission (NCC) Incubation Program

The NCC Incubation Program focuses on nurturing startups in the telecommunications sector.

It offers funding, training, and mentorship to entrepreneurs developing innovative solutions in telecom and ICT.

The program aims to foster technological advancement and improve communication services in Nigeria by supporting promising startups.

Also read – Apply for the Digital Africa Talent 4 Startups Program

26. GIZ-SAIS Investment Readiness Programme

Through comprehensive mentorship and support, the GIZ-SAIS Investment Readiness Programme helps African startups become investment-ready.

Targeting agritech and tech-enabled businesses, the program offers coaching on business models, financial planning, and market strategies, preparing startups for successful engagement with investors.

27. Afrilabs

Afrilabs is a network of technology innovation hubs across Africa, providing startups with resources, mentorship, and funding opportunities.

With a strong presence in Nigeria, Afrilabs supports entrepreneurs by fostering collaboration, offering training programs, and connecting them with potential investors and partners to scale their businesses.

28. BongoHive

Based in Zambia, BongoHive supports startups across Africa, including Nigeria, with incubation, acceleration, and funding.

Focused on technology and innovation, BongoHive provides training, mentorship, and access to a network of investors and industry experts to help startups develop and scale their businesses.

29. Ingressive Capital

Ingressive Capital is a venture capital firm investing in early-stage tech startups across Africa.

It offers seed funding, mentorship, and strategic support, aiming to back innovative companies that address significant market needs. Ingressive Capital helps startups grow by providing financial resources and industry connections.

30. Orange Corners Nigeria

Orange Corners Nigeria, an initiative by the Dutch government, supports young entrepreneurs with training, mentorship, and funding.

Focused on fostering innovation and entrepreneurship, the program provides startups with resources to develop their business ideas and access to a network of local and international experts.

31. Syndicate by Vrystaat

Syndicate by Vrystaat supports early-stage startups in Africa’s creative and technology sectors.

It offers funding, mentorship, and business development assistance, helping entrepreneurs turn their ideas into viable businesses.

The program focuses on innovation and creative solutions that address market needs.

32. Bluechip Technologies Incubation Program

Bluechip Technologies Incubation Program supports tech startups with funding, training, and access to business networks.

Focused on fostering innovation in the tech industry, the program helps entrepreneurs develop solutions, scale their businesses, and connect with potential investors and partners.

Also read – FinTech in Africa: Top 10 Female Managers that are Changing the Narrative in Africa’s FinTech Industry

How can I find the right accelerator for startups?

Finding the right accelerator for startups involves several key steps.

Begin by researching accelerators for startups that match your industry and business stage.

Utilize online platforms like F6S, Seed-DB, and Gust to identify suitable programs.

Consider accelerators for African startups if you are targeting the African market, as these programs offer localized support and networking opportunities.

Evaluate each accelerator’s offerings, such as funding, mentorship, and resources.

Check their track record and success stories. Lastly, contact alumni or current participants for insights into their experiences, ensuring the program aligns with your startup’s goals and needs.

FAQs

What are the benefits of joining an accelerator program for African startups?

Accelerators provide funding, mentorship, networking opportunities, and access to resources and infrastructure, helping startups scale and succeed.

How can I find the right accelerator program for my startup in Africa?

Research online platforms like F6S, Seed-DB, and Gust, and look for programs that align with your industry, business stage, and specific needs.

What are some well-known accelerators for African startups?

Notable accelerators include MEST Africa, Startupbootcamp AfriTech, and Google Launchpad Accelerator Africa, all offering comprehensive support for early-stage startups.

Conclusion

Nigeria has numerous accelerators and incubators providing essential support to help businesses grow.

These programs offer a combination of funding, mentorship, training, and resources, ensuring that startups have the best chance of success.

These opportunities allow entrepreneurs to scale their businesses and contribute to the country’s economic development.

Whether you’re a tech startup, a social enterprise, or a creative industry innovator, there’s an accelerator or incubator in Nigeria ready to support your journey.

References

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Oluwatobi Olowe

Tobi Olowe has over 3 years of experience as a content writer specializing in Tech discoveries, site optimization, building content that rank well and boosting overall site performance.