Current Start-ups Grants

Current Start-ups Grants: Almost everyone in looking for money to start.

Or expand their business in Nigeria starts out by looking for a small business grant.

But unfortunately, there aren’t actually that many Nigerian federal or provincial government grants available for small businesses.

Unlike business loans, grants don’t need to be repaid.

So there’s no worry over term length, interest rates, APR, or refinancing.

You just need to qualify, and boom—free money.

In this post we shared tips about top small business grants in Nigeria.

Organised by government agencies and private individuals.

Current Start-ups Grants

Current Start-ups Grants

First City Monument Bank Limited, in partnership with the Lagos State Employment Trust Fund and Passion Hub,

has presented a total sum of N3.15m in grants to start-ups during the LSETF tech innovation support programme,

tagged ‘Lagos Innovates’.

The grant was given to the winners of the ‘Secure Lagos Hackathon,’ organised by LSETF in Lagos recently, according to a statement.

The three-day event, had 96 participants pitching different innovative ideas.

And showcasing both software and hardware technology developments that could help tackle security issues in Lagos.

Current Start-ups Grants

The overall best team in the contest,

Team LSFLOW, was said to have received N2m for its innovative development of an application that could forecast, monitor and communicate warnings to the relevant authorities about the risk of an eminent flooding in Lagos.

The first runner-up, Team Aboeko, received N1m for developing an application that reports crime from crowd sourcing.

The second runner-up, Team Gidi Secure, received N150,000 and a six month free co-working space at a technology hub, Civic Hive, for its smart innovative device for home security.

Current Start-ups Grants: GRANT MAKING PROCEDURES

The Start-Up Grant shall be made directly to and administered by the office of contracts.

And grants at the applicant’s Institution, which shall be responsible for the expenditure of the grant funds.

Annual renewal of a Start-Up Grant shall be subject to the Foundation’s approval.

Read also:Top 30 Food Vending Business in Nigeria

Current Start-ups Grants: EXPECTATIONS OF THE HOST INSTITUTION

The host institution will provide a faculty appointment (ordinarily at the Assistant Professor level) to the applicant. The applicant will be provided with an office, administrative support, research space and required core facilities to support the proposed work.

The host institution is required to provide a minimum of $30,000 to match the $70,000 annual grant from the Foundation so that the total grant shall be $100,000 per year.

The Institution will limit teaching and/or clinical practice requirements to no more than one day per week.

The Institution salary contribution will be made independent of clinical practice revenue.

Read also:Top Business Grants Available in Nigeria

Current Start-ups Grants: EXPECTATIONS OF THE INVESTIGATOR

Investigators must be highly promising based on performance during training and have shown promise that they are ready to make the transition to independent investigation.

Preference will be given to applicants that have not held a faculty position or equivalent for more than one year.

The investigator must demonstrate that they have a research plan that is distinct from the work of their mentors’ program, is important and is achievable.

Current Start-ups Grants

The investigator will be asked to identify planned research milestones.

The investigator must indicate how core facilities at the Institution are sufficient to allow completion of the proposed studies within the proposed budget.

The principal investigator will be required to submit an annual report to the host institution and the Foundation (submitted electronically via the LLHF Grant Management System).

Additionally, the investigator will be required to attend the Annual Hillblom Scientific Meeting to give a presentation on the findings of their research to date.

Current Start-ups Grants

The annual renewal of any Start-Up Grant for the three year time period will be contingent upon a satisfactory annual report and presentation at this forum.

Renewal / non-renewal decisions by the Board of Directors of the Hillblom Foundation are final and not subject to appeal or review.

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