Google has opened applications for the Hustle Academy SMB Fund, a NGN75 million (US$100,000) equity-free fund dedicated to amplifying the ambitions of Nigerian small and medium-sized enterprises
Inaugurated in 2022, Google’s Hustle Academy offers SMEs networking opportunities, coaching, and education in business and management, with a focus on helping them to package their companies in order to secure the funding they need to further their operations.
Over 4,000 SMBs in Nigeria have graduated from the program since its launch, with an impressive 74% of those from the first year reporting significant company development. In the meanwhile, the fund is providing 15 small company owners in Nigeria with NGN5 million (US$6,500).
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The Hustle Academy Fund is proof of the tenacity and creativity of Nigerian small enterprises, which form the foundation of our economy.
According to Mojolaoluwa Aderemi-Makinde, Google’s head of brand and reputation for Sub-Saharan Africa, “We are hopeful that this fund will further enable them to succeed and drive economic growth, creating jobs and opportunities for all Nigerians.”
Businesses must have been created in Nigeria, be operating there for no more than five years, and have a detailed and scalable business plan in order to qualify for the Hustle Academy SMB Fund.
They should have a history of commitment to growth, work in industries that are connected with the digital economy or have a digital enablement strategy, and, although it’s not required, prior Hustle Academy involvement is an asset.
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