FirstBank and Ekiti Launch Innovation Enterprise Fund

FirstBank, recognized as West Africa's premier financial institution, has announced its partnership with the Ekiti State Government to launch the Innovation Enterprise Support Fund. This groundbreaking initiative is designed to empower startups and scale technology-enabled businesses, thereby accelerating innovation-driven economic growth across the state.

The program will provide funding, mentorship, and market access to high-potential enterprises, with a particular focus on strengthening Ekiti's innovation ecosystem and creating jobs. Notably, at least 40 percent of the fund is reserved for female-led enterprises.

The Innovation Enterprise Support Fund is structured into three phases: ideation, pre-acceleration, and acceleration, with 60 startup enterprises set to receive financial support ranging from N150,000 to N1,200,000. This initiative aims to enable job creation, revenue generation, and the launch of market-ready products.

Olusegun Alebiosu, the Managing Director and Chief Executive Officer of FirstBank Group, emphasized that entrepreneurship and innovation are core values of FirstBank, which has supported Nigerian businesses for 132 years.