Eight Nigerian founders each walked away with ₦5 million, roughly $3,711, after completing the NiYA-Cascador Founders Programme, a four-week initiative run jointly by Nigeria's Ministry of Youth Development and Cascador, a platform built for growth-stage founders. The funding is non-dilutive, meaning these entrepreneurs keep full ownership of their companies.
The eight winners were selected from a cohort of 17, who were themselves drawn from a pool of more than 19,000 applicants. Beyond the money, the programme offered business training, regulatory guidance, and mentorship aimed at helping early-stage companies clear the operational hurdles that tend to slow growth before it really starts.
The businesses span a wide range of sectors. SewPro builds digital management tools for tailors and fashion entrepreneurs. Biuda creates interactive learning content for children and teenagers. Shellify turns eggshell waste into useful materials, and Rèkool Access Technology makes solar-powered refrigeration systems. Craft Planet processes plastic waste into construction materials, while Sparklean Station Nigeria manufactures cleaning and disinfectant products. Backel Food Services focuses on healthier food and beverage products, and Agrosavvy Consult works in agriculture.
The remaining nine founders in the cohort will each receive ₦1 million, about $742, in non-dilutive capital. All 17 participants also get an enterprise resource planning solution and alumni status with the Nigerian Youth Academy.
This programme sits inside a broader government push to fund Nigeria's startup ecosystem. Earlier this year, the Nigeria Sovereign Investment Authority finalised a deal with Japan's JICA to launch a $50 million Impact Innovation Fund for pre-seed to early-stage startups. With that kind of infrastructure taking shape, the question is how many more founders are waiting in the pipeline.
Originally published by TechCabal.