Ventures Platform Hb and Acumen, with support for LoftyInc Allied Partners Limited, are launching the Nigeria Impact Startup Relief Facility (NISRF) to disburse business grants to the qualifying post-MVP stage, high-growth startups so they remain resilient through the COVID-19 crisis.
The Nigeria Impact Startup Relief Facility (NISRF) is an emergency facility designed by a consortium of funding partners to disburse business grants to a significant number of existing post-MVP stage high-growth startups who create an impact so they remain viable during the COVID-19 crisis.
NISRF is designed to support grant applicants whose businesses/activities are either being adversely affected or modified in response to COVID-19.
The Nigeria Impact Startup Relief Facility (NISRF) is expected to last over a period of six months.
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Selection Criteria
In order to qualify for this funding, the following criteria have to be met:
- Be a company operating in Nigeria.
- The company is tackling an urgent social problem.
- The company is post-MVP, revenue-generating, registered with CAC.
- Can demonstrate solid financial health prior to the onset of COVID-19 (USD $60K ARR – 12 months period minimum).
- The company has already received seed capital.
- Can demonstrate the scale of impact, or potential for future scale.
- Fall in any of these sectors: Agriculture, Critical Infrastructure, Financial Services, Health Care, Education, and with initiatives that target the informal sector.
- How well you have optimised resources during COVID.
Benefits
- Grant: Business equity-free funding between $5,000 to $20,000.
- Business Advisory: Get access to a pool of mentors and business experts.
- Business Continuity: Here’s your chance to continue to create impact and stay afloat.
How it Works
- Call for Application
- Selection
- Sign Agreement
- Fund Disbursement
- Monitoring
How to Apply
To get started, click here.
The application closes on the 7th of September 2020.
