Five simple steps to apply for FG start-up support fund

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The Federal Government on Tuesday launched the Startup Support and Engagement Portal, a key requirement for implementing the Nigeria Startup Act.

The Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, announced this via his X account.

He wrote, “The startup portal will drive the identification and aggregation of Nigerian startups, venture capital companies, hubs and innovation centres in order to facilitate engagement and support for ecosystem players.”

“The launch of the portal will allow us initiate the process of setting up the startup consultative forums to select representatives to the National Council for Digital Innovation and Entrepreneurship, in order to facilitate discourse and consensus among Nigerian ecosystem players.”

This development is coming a year after the Startup Act was signed into law by former President Muhammadu Buhari.

However, he has encouraged all Nigerian startups, venture capital companies, hubs and innovation centres to register and explore their available resources.

Here’s a step-by-step procedure to register:

1. Visit http://startup.gov.ng

2. Scroll down the page to reveal the options for Startups, Angel Investors, Venture Capitalists or Accelerators, Innovation Hubs and incubators.

3. Select Startups

• Criteria to enroll:

– Be a limited liability company registered under the Companies and Allied Matters Act (CAMA).
– Be a company existing for less than ten years from incorporation.
– Have objects focused on innovation, development, production, improvement, and commercialization of a digital technology innovative product or process.
– Be a holder or repository of a product or process of digital technology or the owner or author of a registered software.
– Have at least one-third of local shareholding held by one or more Nigerians as founder or co-founder of the startup.
– Satisfy the conditions set out in the Act for a sole proprietorship or partnership.
– Be a tech-enabled business that uses existing tools, platforms, libraries, and frameworks to make a company or a solution more efficient or effective.

4. Enter the following details:

– RC Number (Unique CAC identification number)
– Company Name
– Year of Incorporation
– Industry (type)
– Media
– Start-Up description
– Company Email
– Company Address
– Company website
– Founder’s Full Name
– First Name + Last Name
– Founder’s Email Address
– Founder’s Phone Number
– Founder’s means of Identification (BVN or NIN)

5. Click ‘Submit’

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