About 50 Nigerian startup teams have been selected for the ACE Startup Academy 2026 after 3,856 people applied for places in the entrepreneurship programme designed to support founders from business development to investment readiness.
The selected teams, comprising about 120 participants, began a four-week founder training programme in Abuja on August 24. The academy is being implemented through a partnership involving the Small and Medium Enterprises Development Agency of Nigeria, the Korea International Cooperation Agency and the Soongsil University Consortium.
The number of applications meant the programme was highly competitive, with only a small fraction of applicants securing places in the first cohort.
The training focuses on business models, artificial intelligence and practical startup development. Participants are expected to work on refining their business ideas, developing prototypes and preparing their ventures for the next stages of the programme.
After the training, the teams will move to a pitch competition scheduled for October, where about 50 teams are expected to compete for places among the top 10 finalists.
The finalists will share a total prize pool of $15,000 and move into a six-month business incubation programme, which is expected to run from October 2026 to March 2027.
The programme also includes investor-readiness support and an overseas investor-relations programme in South Korea. Teams that secure external investment may also qualify for additional matching support of up to $20,000, according to the programme details.
For the selected founders, the academy provides more than a training opportunity. The programme is structured as a pathway from developing a business idea to pitching, incubation and potential investment.
The strong response to the programme also highlights the level of competition for structured startup support among Nigerian entrepreneurs. While thousands applied, only about 120 participants secured places in the first stage.
The next major test for the selected teams will come in October, when the pitch competition determines which startups move on to the incubation and investment-support stages of the programme.
