20 Startups Compete for AICIF’s ₦5m Grant in Tech Innovation Contest

Twenty innovative startups compete for the ₦5 million grant from the African Islamic Finance Innovation Forum (AICIF) in Abuja. The competition, a precursor to the 7th AICIF event in November, attracted 200 applications, with 20 startups focusing on tech innovation and social impact selected.

The event aimed to celebrate young entrepreneurs' creativity and resilience in developing solutions that create jobs and drive social impact. The startups presented their business ideas aligning with Islamic finance principles to a panel of judges.

The Director of the Securities and Exchange Commission (SEC) praised the quality of entries and highlighted the regulator's commitment to supporting small businesses through crowdfunding instruments. The competition showcased the essence of ethical investment and innovation in the startup ecosystem.