The Economic Community of West African States has launched the second edition of its regional Startup Awards, an initiative aimed at helping young businesses overcome early stage challenges, promote innovation and create more jobs across West Africa.
The programme is designed to support technology driven businesses with strong growth potential by providing access to business training, funding opportunities and support for expansion into other African markets under the African Continental Free Trade Area.
Speaking at a press briefing in Abuja on Monday, the Acting Director of Private Sector and Industry at the ECOWAS Commission, Oluonye Peter, said more than 6,000 startups from ECOWAS member states had applied since registration opened on August 3.
He said independent assessors would screen the applicants and select 60 promising businesses to participate in a specialised virtual masterclass focused on business management, startup development and capacity building.
The programme is targeting businesses operating in sectors considered important to the region’s economic and social development. These include health technology, financial technology, agriculture and food systems, education and skills development, clean technology and green innovation, as well as tourism, hospitality and travel technology.
The awards are being organised by the ECOWAS Commission in partnership with the Investment Promotion Agencies of West African States and the Pan African Alliance of Small and Medium Industry.
Following the masterclass, 20 finalists will advance to a pitching competition where they will present their businesses and growth plans before a panel of assessors.
The top three startups will receive seed funding of $30,000, $20,000 and $15,000 respectively.
Organisers said the programme goes beyond financial support, noting that many young businesses struggle during the early stages of development and need access to mentorship, investment and the right business networks to survive and grow.
Director General of the Pan African Alliance of Small and Medium Industry, Dr Henry Emejuo, said the programme would be implemented in three major stages, beginning with capacity building through masterclasses, followed by the pitching competition and ending with an awards ceremony to celebrate promising businesses.
The organisers also said the initiative would promote inclusive participation, with particular attention given to women, young entrepreneurs and business owners living with disabilities.
By connecting emerging startups with venture capitalists, impact investors and relevant regulatory institutions, ECOWAS hopes to strengthen the regional startup ecosystem, support industrial development and create sustainable business opportunities across West Africa.
