Amidst brilliant ideas from young graduates, the hurdle of insufficient capital often stifles ventures. However, grants for entrepreneurs offer hope.
If you are an entrepreneur or a creative laid-off graduate who needs funds to start or expand your business, you are in the right place.
As a young entrepreneur, you have access to several current and intriguing grants.
Grant programs in Nigeria are a great initiative put up by the government, private organizations or investors to bring the business dreams of young entrepreneurs to reality.
This article provides information on various grant programs for entrepreneurial and laid-off graduates to apply to start up or expand their businesses.
It explains the requirements of each and how to apply.
 Now, check out these 10 grant programs below:
1. Africa’s Young Entrepreneur Empowerment Nigeria (AYEEN)
AYEEN provides funding for great business ideas and mentorship programs for young entrepreneurs.
It requires applicants to be 18 years and above, have a great business idea or run a business, and live in Nigeria.
To apply, you must visit the AYEEN website, register, fill in the necessary forms, and submit them.
Explore business funding opportunities and awards for African entrepreneurs.
2. IB PLC Foundation grants for entrepreneurs
The IB PLC Foundation is a social investment initiative that aims to reduce unemployment by providing mentorship and support to young innovators and entrepreneurs.
To apply, you must have legal authorization to work in the country of application and possess a valid ID.
You must also have an innovative and profitable business idea, be literate, and be able to operate the business full-time.
3. The National Youth Entrepreneurship Empowerment Summit
The National Youth Entrepreneurship Empowerment Summit is an empowerment initiative.
This initiative helps equip young Nigerian entrepreneurs with the necessary skills and training to contribute to the nation’s economy.
Explore the opportunity to receive a $5,000 business grant for young Nigerian entrepreneurs through the FG TIIMAfrica program.Â
4. The Lagos State Employment Trust Fund
The Lagos State Employment Trust Fund offers financial support to Lagosians seeking to start or expand their businesses and helps participants acquire skills for employment.
Applicants must be aged 18 to 35, from the southwestern region, possess a valid ID, and have an innovative and profitable business idea.
They must be literate and able to operate the business full-time.
5. The Diamond Bank BET grants for entrepreneurs
Diamond Bank organizes the Diamond Bank BET Programme to support Nigerian entrepreneurs in acquiring the necessary business skills and training to facilitate the growth of their businesses.
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6. Kickstart grants for entrepreneurs
KickStart is a social investment initiative by the IB PLC Foundation.
The objective of this initiative is to reduce unemployment by providing young innovators and entrepreneurs with the right training, business skills, mentorship, and development support.
It targets the youths of the southwest and provides a yearly competition in which the winner is granted grants.
To apply, youths aged 18-35, from the southwestern region, must have a valid ID, have an innovative business idea, be literate, and be able to operate the business full-time.
7. The Global Innovation Fund
The Global Innovation Fund is a funding program that provides support to innovative minds in Africa, with grants or loans.
You must be 18 years of age and above, a citizen of the country you are applying from and have outstanding business ideas.
To apply, visit the Global Innovation FundÂ
8. Unilever Young Entrepreneurs Award
The Unilever Young Entrepreneurs Award is a financial support award for young entrepreneurs keen on proffering solutions to world problems.
Applicants must be aged between 18 and 35 and must have innovative business ideas aimed at making a social impact, possessing skills in the health sector to enhance people’s well-being and health.
To apply, you can visit https://youngentrepreneursawards.com and register and complete your profile.
9. The Bank of Industry Youth Entrepreneurship Support ProgramÂ
The Bank of Industry Youth Entrepreneurship Support Program is a funding program aimed at cultivating the habit of entrepreneurship in youths.
This program equips the youths by providing funds for profitable business ideas and training them extensively.
You must have a viable business idea located in Nigeria and have a minimum qualification of OND.
To apply, visit http://onlineregportal.com/YesProgramme/ to apply.
10. Tony Elumelu Foundation Entrepreneurship Programme
Heirs Holding sponsors the Tony Elumelu Foundation Entrepreneurship Programme to empower young African entrepreneurs.
It has been successful, with over 7500 entrepreneurs benefiting from its launch.
To become a successful business entrepreneur, you must legally qualify to work in the country of application, legally reside in any of the 54 African countries, be over 18 years old, and have a profitable business idea.
To apply, visit the website https://tefconnect.com/, create an account, and complete the necessary form.
Check the guidelines to apply for the Tony Elumelu Foundation Grant and win.
Conclusion on grants for entrepreneurs and creative laid-off graduates
Take advantage of these grant programs designed to support young entrepreneurs and laid-off graduates in business expansion.
Apply now for grants for entrepreneurs!
