GOSIMA Innovation Fund 2026: Apply for Up to ₦5 Million Grant in Nigeria
- Details
- Category: Grants
- Published on Friday, 18 September 2026 19:00
- Hits: 344
Young Nigerian entrepreneurs building innovative and technology-enabled businesses can now apply for the GOSIMA Innovation Fund 2026, a business funding and accelerator opportunity designed to support founders with scalable ventures.
The initiative is funded by Gosima Group and powered by SMFEST International. It offers selected entrepreneurs access to business development support, expert-led masterclasses, pitch preparation, networking opportunities and a chance to compete for a share of a ₦10 million grant pool.
GOSIMA Innovation Fund 2026 at a Glance
| Programme detail | Information |
|---|---|
| Programme | GOSIMA Innovation Fund 2026 |
| Status | OPEN |
| Target applicants | Young entrepreneurs |
| Age requirement | 18–35 years |
| Location | Nigeria |
| Business focus | Innovative, scalable and technology-enabled businesses |
| Total grant pool | ₦10 million |
| Largest individual grant | ₦5 million |
| Application opening | September 2026 |
| Application closing | 28 September 2026 |
| Application method | Online |
| Application portal | innovation.smfest.org |
| Funder | Gosima Group |
| Programme partner | SMFEST International |
What Is the GOSIMA Innovation Fund?
The GOSIMA Innovation Fund is a funding and business support initiative for young founders developing businesses with the potential to solve real problems, create employment and scale.
Rather than focusing only on financial support, the programme combines entrepreneurship training, business acceleration, networking and pitch preparation.
SMFEST describes its wider platform as an ecosystem focused on helping businesses and entrepreneurs use technology, social media and innovation to improve their businesses and grow.
For entrepreneurs looking for business grants in Nigeria, startup funding, business acceleration programmes and entrepreneurship opportunities, the GOSIMA Innovation Fund provides a combination of these areas.
How Much Is the GOSIMA Grant?
The programme has announced ₦10 million in total grant awards for the top three winners.
The funding is divided as follows:
-
Winner – ₦5 million
-
1st Runner-Up – ₦3 million
-
2nd Runner-Up – ₦2 million
This means that the advertised ₦10 million is the combined value of the three grants, rather than a ₦10 million grant for every successful applicant.
Entrepreneurs should therefore avoid interpreting the opportunity as a grant where every selected founder receives up to ₦10 million.
Additional ₦90 Million Equity Funding Opportunity
In addition to the grant competition, the GOSIMA Innovation Fund announcement mentions access to a ₦90 million post-SMFEST equity funding opportunity.
This is different from the ₦10 million grant pool.
The ₦10 million consists of specified grant awards for the top three positions, while the ₦90 million opportunity is described as equity funding.
Entrepreneurs should understand the difference between the two:
-
Grant funding does not normally require giving investors ownership of the business.
-
Equity funding can involve an investor providing capital in exchange for an ownership interest in a business.
The current announcement does not specify the amount of equity investment each business will receive or the ownership terms. Applicants should therefore review the relevant terms carefully if they progress to that stage.
Who Can Apply for the GOSIMA Innovation Fund?
The programme is aimed at young entrepreneurs aged 18 to 35 who are building innovative businesses.
According to the current call, the programme is looking for founders who are:
-
Aged 18–35 years
-
Building an innovative business
-
Developing a scalable venture
-
Using technology as part of their business solution
-
Solving a meaningful problem
-
Building a business with potential to create jobs
-
Interested in growing and scaling their venture
The programme announcement specifically highlights scalability, technology, innovation, job creation and problem-solving.
What Type of Businesses Can Apply?
The GOSIMA Innovation Fund is particularly relevant to entrepreneurs developing technology-enabled and scalable businesses.
Before applying, founders should be able to clearly explain:
-
What problem their business solves
-
Who their target customers are
-
What makes their solution different
-
How technology is used in the business
-
How the business generates or plans to generate revenue
-
How the venture can grow
-
How the business can create jobs or economic value
Providing clear and accurate information can help applicants communicate the potential of their business effectively.
What Will Selected Entrepreneurs Receive?
The programme offers more than a potential cash award.
Selected entrepreneurs can receive access to:
Business Accelerator Support
Participants will receive intensive business development support designed to help them strengthen their ventures and prepare for growth.
Expert-Led Masterclasses
Entrepreneurs will have access to expert-led sessions covering relevant areas of business development and entrepreneurship.
Business Growth Support
The programme is designed to help founders identify opportunities for business improvement and expansion.
Pitch Preparation
Participants can receive support to prepare their businesses for pitching before experts and other stakeholders.
Networking and Visibility
The programme also provides opportunities for entrepreneurs to connect with other founders, experts and members of the wider business ecosystem.
Pitch Opportunities
Selected entrepreneurs will have an opportunity to present their businesses before experts as part of the programme.
Why Entrepreneurs May Find This Opportunity Useful
Access to finance is only one part of building a sustainable business.
Many entrepreneurs also need help with:
-
Business strategy
-
Customer acquisition
-
Marketing
-
Product development
-
Financial planning
-
Pitching
-
Networking
-
Investment readiness
-
Business expansion
The GOSIMA Innovation Fund combines several of these areas with a competitive grant opportunity, making the programme relevant to founders who want both business development support and access to funding.
How to Apply for the GOSIMA Innovation Fund 2026
Interested entrepreneurs can submit their applications online through the programme application portal.
Registration/Application Link
Apply here: GOSIMA Innovation Fund Application Portal
Applicants should provide accurate information about their business and carefully review the application before submitting it.
The application portal was identified by SMFEST in its current call for applications.
What Should Applicants Prepare?
Although applicants should follow the exact requirements shown on the application portal, entrepreneurs should be prepared to clearly present their business.
Useful information to have ready may include:
-
Business description
-
Product or service details
-
The problem being solved
-
Target market
-
Business model
-
Evidence of traction, where applicable
-
Growth plans
-
Use of technology
-
Job creation potential
-
Founder or team information
These details can help you explain your business clearly rather than simply describing an idea.
Is the GOSIMA Innovation Fund a Grant or Loan?
The GOSIMA Innovation Fund is a grant and business support opportunity, not a conventional business loan.
The three announced grant awards are:
-
₦5 million for the winner
-
₦3 million for the first runner-up
-
₦2 million for the second runner-up
The separate ₦90 million opportunity is described as equity funding, so applicants should not treat it as an additional guaranteed grant.
Does the GOSIMA Innovation Fund Have an Application Fee?
The current call does not state an application fee.
Applicants should use the official application portal and be cautious about paying individuals or unofficial websites claiming to process applications on their behalf.
Important Things to Know Before Applying
Before submitting your application, make sure that:
-
You fall within the stated 18–35 age range.
-
Your business is innovative and technology-enabled.
-
You can clearly explain the problem your business solves.
-
Your business has potential to scale.
-
You understand that the ₦10 million is a combined grant pool.
-
You understand that the separate ₦90 million opportunity is equity funding.
-
Your information is accurate and up to date.
-
You submit your application before 28 September 2026.
Get the Latest Opportunities First
Join over twenty three thousand Nigerians receiving daily updates on grants, scholarships, free training programmes, jobs and government empowerment initiatives.
Join our Telegram Channel:
Click the link below to follow
https://t.me/GrantsandLoansUpdate
Join our WhatsApp Channel:
Click the link below to follow
https://whatsapp.com/channel/0029VbC5iHy297573RLYAZ3v
Conclusion
The GOSIMA Innovation Fund 2026 is currently open to young entrepreneurs aged 18–35 who are building innovative and scalable, technology-enabled businesses.
The programme combines business acceleration, entrepreneurship training, expert masterclasses, pitch preparation, networking and funding opportunities.
The three grant winners will share ₦10 million, with ₦5 million going to the winner, ₦3 million to the first runner-up and ₦2 million to the second runner-up. A separate ₦90 million post-SMFEST equity funding opportunity is also mentioned by the organisers.