5 International Business Grants Nigerian Entrepreneurs Can Apply For; How I Secured $25,000

Securing funding for your business can be a game-changer, and international grants offer Nigerian entrepreneurs an incredible opportunity to access financial support. Unlike loans, grants are free money—you don’t have to pay them back. These grants can help you expand your business, purchase new equipment, or even take your ideas to a global market. In this article, we’ll explore five international business grants that Nigerian entrepreneurs can apply for, with tips on how to increase your chances of success.

1. The Tony Elumelu Foundation (TEF) Entrepreneurship Programme

The Tony Elumelu Foundation is one of Africa’s most prominent entrepreneurship support organizations. The TEF Entrepreneurship Programme offers grants of up to $5,000 to African entrepreneurs, including Nigerians.

• Focus Area: The program supports businesses across all sectors, from agriculture to technology.
• Eligibility: Your business must be less than three years old. Both new and existing businesses can apply.
• How to Apply: Visit the official TEF website during the application period, typically announced in January. You’ll need to fill out an application form and provide a detailed business plan.

Tip: The foundation also offers training and mentorship. Even if you don’t get the grant, the knowledge and network you gain are invaluable.

2. Global Innovation Fund (GIF)

The Global Innovation Fund provides funding for entrepreneurs with innovative solutions to global challenges. This grant is ideal for businesses focused on education, healthcare, energy, or technology.

• Focus Area: Innovations that positively impact low- and middle-income countries, including Nigeria.
• Funding Range: Up to $15 million, depending on the stage of your business (pilot, testing, or scaling).
• Eligibility: Open to individuals, non-profits, and for-profit businesses.
• How to Apply: Submit your application on the GIF website, detailing your innovation, its impact, and scalability.

Tip: Highlight the social and economic benefits your innovation brings to Nigerian communities.

3. Seedstars World Competition

The Seedstars World Competition is a global contest for startups in emerging markets. Nigerian entrepreneurs can compete for a chance to win up to $500,000 in equity investment and access to training programs.

• Focus Area: Tech-driven startups with scalable solutions.
• Eligibility: Your business must have a minimum viable product (MVP) and demonstrate traction (users or revenue).
• How to Apply: Applications are submitted online, followed by regional pitching events. Winners of regional events compete in the global finals.

Tip: Practice your pitch! Judges are looking for clear, compelling presentations that show how your business solves real problems.

4. Anzisha Prize for Young African Entrepreneurs

The Anzisha Prize is designed for young entrepreneurs aged 15-22. It provides funding, mentorship, and training to help young business leaders grow.

• Focus Area: Any business sector that demonstrates innovation and a positive community impact.
• Funding Range: Grants of up to $100,000.
• Eligibility: You must be a founder or co-founder of your business and actively running it.
• How to Apply: Applications open annually, and you’ll need to complete an online form and submit supporting documents about your business.

Tip: Emphasize the social impact of your business. Anzisha Prize values entrepreneurs who uplift their communities.

5. UNDP YouthConnekt Africa Hub

The YouthConnekt Africa Hub is a United Nations Development Programme initiative that supports young African entrepreneurs. It provides access to funding, training, and networking opportunities.

• Focus Area: Businesses that align with the Sustainable Development Goals (SDGs), such as reducing poverty, improving education, or promoting clean energy.
• Eligibility: Open to African entrepreneurs aged 18-35.
• How to Apply: Check the UNDP YouthConnekt Africa Hub website for application deadlines and procedures.

Tip: Tailor your application to show how your business contributes to one or more SDGs.

FAQs

1. Can I apply for multiple international grants at the same time?
   Yes, you can apply for multiple grants as long as you meet the eligibility criteria for each one.
2. Do I need to register my business to qualify for these grants?
   Yes, most international grants require your business to be registered with a legal body like the Corporate Affairs Commission (CAC) in Nigeria.
3. What documents do I need to apply for international grants?
   Common documents include your business plan, proof of registration, tax identification number (TIN), and financial records.
4. How can I find out about new international grant opportunities?
   Follow international organizations like the UNDP, Tony Elumelu Foundation, and Global Innovation Fund on social media. Joining entrepreneur networks also helps.
5. What happens if I misuse the grant funds?
   Misusing grant funds can lead to legal consequences, disqualification from future grants, and reputational damage. Always use the money as outlined in your application.

By tapping into these international business grants, Nigerian entrepreneurs can unlock new opportunities, expand their businesses, and contribute to their communities. Take the time to research, prepare your application, and put your best foot forward. The world is waiting for your ideas!