How to apply for FG startup support

The Federal Government has launched an engagement portal to register startups in the country as part of implementing the Nigeria Startup Act.

The launch was announced by the Minister of Communications Innovation and Digital Economy, Bosun Tijani, on his X account.

He wrote, “The startup portal will drive the identification and aggregation of Nigerian startups, venture capital companies, hubs and innovation centres in order to facilitate engagement and support for ecosystem players.”

“The launch of the portal will allow us initiate the process of setting up the startup consultative forums to select representatives to the National Council for Digital Innovation and Entrepreneurship, in order to facilitate discourse and consensus among Nigerian ecosystem players.”

He, however, invited all Nigerian startups, venture capital companies, hubs and innovation centres to register.

The National Information Technology Development Agency also urged all Nigerian startups, VCs, angels, hubs, and innovation centres to visit the portal, register, and explore the resources available to them.

How to Register for FG startup support

Below is the registration process for startups:

Visit http://startup.gov.ng
Scroll down the page to reveal the options for Startups, Angel Investors, Venture Capitalists or Accelerators, Innovation Hubs & Incubators.
Select Startups

Criteria to enroll FG startup support:

Be a limited liability company registered under the Companies and Allied Matters Act (CAMA).
Be a company existing for less than 10 years from the date of incorporation.
Have objects that are focused on innovation, development, production, improvement, and commercialization of a digital technology innovative product or process.
Be a holder or repository of a product or process of digital technology or the owner or author of a registered software.
Have at least one-third of local shareholding held by one or more Nigerians as founder or co-founder of the startup.
Satisfy the conditions set out in the Act, in the case of a sole proprietorship or partnership.
Be a tech-enabled business that uses existing tools, platforms, libraries, and frameworks to make a company or a solution more efficient or effective.

Enter the following details:

RC Number (Unique CAC identification number)
Company Name
Year of Incorporation
Industry (type)
Media
Start Up description
Company Email
Company Address
Company website
Founder’s Full Name
First Name + Last Name
Founder’s Email Address
Founder’s Phone Number
Founder’s means of Identification (BVN or NIN)

5. Then Submit

What you should know

Former President Buhari signed the Nigeria Startup Bill 2022 into law on October 19 2022 to put an end to the legal uncertainties that had trailed the startup industry in the past. It provides for what qualifies a company to register and obtain startup status. The Act stipulates among others that:

Before a company can be labelled a startup, it must obtain a certificate known as the startup label. This means that only companies with the startup label will be recognised as startups.
It mandates that a Startup Support and Engagement Portal should be established to facilitate the issuance of the startup label and also bridge the gap between regulators and startups. It also spells out the requirements for a company to obtain a startup label. Companies issued with a startup label have obligations under the bill and failure to comply with these obligations can revoke their startup label.
According to the Act, for a company to be named a startup, it must be a registered limited liability company that has been in existence for not more than ten years from the date of incorporation, amongst other requirements.
Startups can access a special seed fund created under the Act. The Act establishes a Startup Investment Seed Fund, which is designated for startups alone. It will provide finance and tech relief for startups. This means increased access to funding that will grow the startup ecosystem. It will be easier for startups to fund their operations by leveraging the grants and loans that will be available to them.
Companies labelled as startups will benefit from some tax reliefs and incentives under the Act. These labelled startups are eligible for pioneer status incentives and other tax reliefs. Labelled startups with at least ten employees where 60% of the employees have no prior work experience within three years of graduation or any vocational program have access to percentage-based tax relief.