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Introduction to the Ayoba SME Accelerator Program 2023
Applications are now welcome for the Ayoba SME Accelerator Program 2023.
The Ayoba SME Accelerator Program is designed to help SMEs overcome challenges, scale their operations, and achieve sustainable success in their respective industries. Over the next three months, this program will equip 10,000+ SMEs in Nigeria with digital tools and skills to better position them for growth and sustainability.
The ayoba Nigeria SME Accelerator Program 2023, in collaboration with Adanian Labs, aims to catalyze the growth of Nigerian businesses through digitization. This program addresses a myriad of challenges faced by small businesses including limited access to capital; leveraging technology for growth; market access, and meaningful mentorship. The program is specifically designed to foster innovation, enhance competitiveness, drive growth, and create sustainable employment opportunities.
Why Nigeria?
- Rise of Web3: Innovative solution for tech-savvy SMEs meeting customer needs.
- Growing Economy: Resilient economy with 3.6% GDP growth despite COVID-19.
- Ready Market: 96% of businesses account for 54% GDP & 84% employment with the promise of future growth.
Eligibility Criteria
- Applicants must be a citizen of Nigeria
- Applicants must own a registered business in Nigeria
- We require that businesses have already launched, with a product or service in the market.
- The product or service has the potential to be scaled through technology & digitization
Programme Benefits
- Trainings on SME digitization.
- Improved skills for business growth and sustainability.
- Access to new markets through Ayoba platform and partners.
- Networking opportunities with other SMEs.
- Increased visibility and brand exposure.
How Does it Work?
Onboarded SMEs will enjoy the following benefits amongst others:
- Trainings on SME digitization.
- Improved skills for business growth and sustainability.
- Access to new markets through Ayoba platform and partners.
- Networking opportunities with other SMEs.
- Increased visibility and brand exposure.
Entry Criteria
Applications will be assessed on a case-by-case basis to ascertain alignment with the program and to ensure maximum benefit for selected businesses. Below is a guide on what we will be looking out for.
- Launched/ Product In The Market: We require that businesses have already launched, with a product or service in the market.
- High-Potential SMEs: High-potential SMEs are businesses that have demonstrated strong growth potential and have the potential to make a significant impact on their industry or community.
- Leveraging Technology: The product or service has the potential to be scaled through technology & digitization
- Team Capacity: The core team has the capacity and expertise to drive overall growth.
- The Team: A strong and diverse team is essential for the success of any SME. Look for teams with a mix of skills, experience, and personalities that complement each other.
- Financials: The SME will have a solid financial foundation, including a clear understanding of their financials, revenue projections, and runway. The SME will have a solid plan for raising capital to fuel growth.
- Market Opportunity: The SME will be operating in a growing or untapped market with a clear potential for growth. A deep understanding of the target market and customer needs is crucial.
- Scalability: The SME will have a clear strategy for scaling the business, including a plan for customer acquisition, marketing, and distribution.
- Business Model: A clear and well-defined business model is necessary. The SME will have a clear revenue model, pricing strategy, and plan for scaling the business.
- Intellectual Property: The SME will have a defensible intellectual property strategy in place, including patents, trademarks, and copyrights.
- Product Or Service: The product or service will be tech based, innovative, and address a significant pain point for the target customers. The SME will have a clear roadmap for product development and improvement.
- Entrepreneurial Mindset: The SME will have a strong entrepreneurial mindset, with a willingness to take risks, embrace failure, and adapt to changing circumstances.
- Traction: The SME will have demonstrated some level of market validation, with a strong track record of customer acquisition, retention, and engagement.
- Social Impact: The SME will have a positive social impact, either through their products or services, or through their broader social mission
How to Apply
Are you an SME based in Nigeria, you can join the program by clicking on the link below to access the registration form. We look forward to working with you.
Interested applicants are advised to go to the official announcement page of the Corps Program to read the full details about the program before beginning the application process. Click here to check the official announcement page for more details about the application process. There is no official date announced for the closure of applications so, don’t waste time!
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