By Felix Khanoba
Ten young Nigerian entrepreneurs have won a combined ₦21 million in grants and an all-expenses-paid trip to South Korea following a start-up pitch competition organised under the Abuja Centre for Entrepreneurship project.
The competition, held on Thursday, October 15, 2026, at the Public Service Institute of Nigeria in Abuja, was organised under the Start-up Innovation Academy Project, also known as the Abuja Centre for Entrepreneurship (ACE), a partnership between the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the Korea International Cooperation Agency (KOICA).
The initiative is designed to strengthen Nigeria’s start-up ecosystem through entrepreneurship training, digital innovation, business incubation, mentorship and enterprise development support.
The 10 finalists presented their business ideas to a panel of judges and industry stakeholders, showcasing innovative solutions, commercial potential and prospects for job creation and economic growth.
The ₦21m grant package is expected to help the winning businesses improve their operations, develop products and services, and expand their market reach.
The trip to South Korea will also expose the beneficiaries to international innovation ecosystems, entrepreneurial practices and emerging business opportunities.
Speaking at the event, the Minister of State Industry, Trade and Investment, Senator John Ewan Onoh, stressed the need to support young entrepreneurs and create an enabling environment for innovation, enterprise development and job creation.
He said initiatives that equip young Nigerians with entrepreneurial skills and opportunities were essential to building a productive and competitive economy, in line with President Bola Tinubu’s eight-point agenda.
On his part, the Director-General of SMEDAN, Charles Odii, said strategic partnerships were critical to advancing the development of micro, small and medium enterprises in Nigeria.
He emphasised the need to complement entrepreneurship training with practical access to financing, mentorship, incubation facilities and markets to enable start-ups to grow sustainably.
According to Odii, “the ACE Project reflects the value of international cooperation in strengthening local entrepreneurial capacity and creating opportunities for Nigerian innovators to compete in an increasingly digital and knowledge-driven economy”.
He reaffirmed SMEDAN’s commitment to supporting MSMEs through targeted interventions, institutional partnerships and programmes aimed at promoting innovation, productivity, employment generation and inclusive economic development.
Also speaking, the ACE Project Director from Soongsil University, South Korea, Professor Gee Hyun Hwang, commended the participating entrepreneurs for their creativity, commitment and efforts to develop innovative business solutions.
Hwang highlighted the importance of sustained capacity development, mentorship and collaboration in helping start-ups build competitive and scalable businesses.
The partnership involving SMEDAN, KOICA and Soongsil University is aimed at strengthening entrepreneurial institutions, facilitating knowledge transfer and connecting Nigerian start-ups with international best practices.
The ACE Project combines structured entrepreneurship training with practical business evaluation, investment readiness and opportunities for further incubation and enterprise support.
One of the winners, Aisha Aminu Mohammed of Tita Universal Services Limited, expressed delight at the opportunities provided through the competition, training and mentorship.
She said the value of the capacity-building and mentorship opportunities offered by SMEDAN could not be quantified.
The agency said the initiative was part of broader efforts to build a resilient and inclusive start-up ecosystem in which young entrepreneurs can access the skills, partnerships and resources needed to transform innovative ideas into viable businesses.
