FSI

Frequently Asked Questions

Everything you need to know before applying to the Founders Support Initiative.

Why is there an application fee?

We charge a ₦1,000 application fee to support the administrative review process, verify applicant submissions, and reduce spam or duplicate applications. This helps us focus our resources on reviewing serious founders building impactful startups across Africa.

The fee is non-refundable.

Who can apply?

Do I need a registered business?

No. You can apply with an idea, prototype, or existing startup. However, having traction or a registered business strengthens your application.

What type of startups do you fund?

We support startups across sectors including technology, agriculture, education, health, creative industries, logistics, fintech and social impact.

How much funding can I receive?

Grants range from ₦750,000 to ₦7,500,000 depending on the stage and impact of your startup.

Is the funding repayable?

No. Grants are non-dilutive and do not require repayment or equity.

Does applying guarantee funding?

No. Applications go through a competitive review and selection process.

What happens after I apply?

What support do selected founders receive?

Can I apply more than once?

Yes. You may apply again in future cohorts if your startup evolves.