Google Launches N75 Million Fund for Nigerian SMBs, Applications Open Till October 12

Google has unveiled a N75 million equity-free fund to support the growth and innovation of Nigerian small and medium-sized businesses (SMBs).

The fund, dubbed ‘Hustle Academy SMB Fund’, will offer N5 million each to 15 Nigerian SMBs that have a clear and scalable business plan, operate in the digital economy or have a digital enablement strategy, and have been in operation for one to five years.

The fund is open to Nigerian-founded businesses that are operating within Nigeria. Previous participation in Google’s Hustle Academy programme, while not mandatory, will be an added advantage.

Google said the fund is part of its commitment to fostering entrepreneurial development in Nigeria and empowering SMBs to succeed and drive economic growth.

Google’s Hustle Academy, which was introduced in 2022, provides SMBs with business and management education, mentoring, and networking, with a focus on preparing them to raise capital for their businesses.

The programme has graduated over 4,000 SMBs in Nigeria, with 74% of them reporting significant business growth in the first year.

Mojolaoluwa Aderemi-Makinde, head of brand and reputation, sub-Saharan Africa at Google, said the fund is a testament to the resilience and innovation of Nigerian SMBs, which are the backbone of the economy.

“We are hopeful that this fund will further empower them to succeed and create jobs and opportunities for all Nigerians,” she said.

Sinmisola Nojimu-Yusuf, product marketing manager and the hustle academy programme lead at Google, said the fund provides SMBs with the resources and support they need to succeed.

Applications for the fund are open from September 28 to October 12. Interested SMBs can find more information and apply here.

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