Grooming Endowment Trust launches startup accelerator programme
The Grooming Endowment Trust has announced the launch of an accelerator programme to boost start-ups looking for facilities to scale.
The programme, known as Grooming Endowment Trust Accelerated (GETAccelerated), will provide selected startups with ₦55 million in equity-free cash, expert mentors and various market opportunities.
The GETAccelerated programme will run for two months using in-person and virtual channels to support early-stage entrepreneurs enhance their solutions, gain traction and reach customers. During the acceleration program, three focal areas will be explored - product development, growth and distribution, and investment readiness.
The Chairperson of the Grooming Endowment Trust, Adaobi Okafor stated that the goal of the programme is not only to provide a financial boost to start-ups but the necessary mentoring to make them more investment-worthy, given the tough business terrain in the country. She assured that selected participants would receive extensive business support to rethink their products and services for growth.
Michael Adoghe, Operations Manager of the Trust, highlighted the criteria for the selection of early stage (angel, pre-seed or seed round) start-ups into the programme. Start-ups must be located in Nigeria, incorporated with the CAC, have at least two founders, and have a minimum viable product (MVP) with some traction in the areas of health, education, social entrepreneurship, community development, and/or humanitarian intervention.
Kickoff Africa is the implementing partner for the Accelerator, bringing leading industry experience and an extensive track record in supporting start-ups. The programme will begin with an in-person Bootcamp on the 5th of October, 2022.
Applications are now open and will close on the 25th of September 2022.