ECOWAS Selects 60 Startups for Regional Awards Program

The Economic Community of West African States (ECOWAS) announced that it received over 6,000 applications for the second edition of the ECOWAS Startups Award, from which 60 startups will be selected. The announcement was made by Oluonye Peter, the Acting Director of Private Sector and Industry at ECOWAS, during a press briefing in Abuja.

The selected startups will participate in a five-day masterclass, after which 20 finalists will compete for the top three awards, with seed capital prizes of $30,000, $20,000, and $15,000. The initiative aims to assist startups in overcoming early-stage business challenges, such as limited managerial capacity and access to finance.

Peter emphasized the importance of not only awarding prizes but also providing ongoing support through an accelerator program to ensure the winners develop into successful businesses. The program will focus on sectors like FinTech, HealthTech, AgriTech, and others, aligning with the region's economic potential and the interests of youth.