The Korea International Cooperation Agency (KOICA) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) will commence the Founder Training programme of the ACE Startup Academy 2026 in Abuja on 24 August.
The programme attracted strong nationwide interest, drawing a total of 3,856 applicants from across Nigeria. Following a fair and systematic selection process, approximately 120 participants across some 50 teams were selected, representing a competition ratio of roughly 32.1 to 1.
Professor Gee Hyun Hwang, Project Manager, said: “The fact that more than 3,800 applicants came forward demonstrates the strong interest Nigerian youth have in entrepreneurship and digital technology. Given the volume of applications, we conducted the selection fairly and strictly in accordance with the established criteria. We intend to support the selected participants in developing their ideas into concrete, viable business models.”
The Founder Training will run for four weeks from 24 August. Centred on business model (BM) development and the practical application of artificial intelligence (AI), the programme will combine project-based learning (PBL) team projects with hands-on exercises and mentoring.
The Founder Training marks the first stage of a phased startup development pathway designed to connect participants’ ideas to real market and investment opportunities.
Teams completing the Founder Training will be eligible to compete in the Pitch Competition scheduled for October. The ten outstanding teams selected through the competition will share a total prize pool of USD 15,000, and will subsequently refine their business models and receive follow-up growth support through a Business Incubation programme of approximately six months.
Selected teams will also be offered further opportunities, including IR Mentoring, an IR Demo Day connecting startups with prospective investors, and an Overseas IR programme held in Korea. Teams that successfully attract external investment may additionally qualify for matching fund support, providing continued backing for business growth and market expansion.
SMEDAN is delivering the programme under the leadership of Director-General Charles Odii, in partnership with KOICA and the Soongsil University Consortium (Soongsil University Support Center for Startup and Entrepreneurship, Edunity Lab, and Maincontents), with the aim of strengthening the capabilities of Nigerian entrepreneurs and supporting the growth of promising startups.
Beginning with the Founder Training, ACE Startup Academy 2026 offers a staged growth pathway extending through the Pitch Competition, Business Incubation, and investment linkage. KOICA, SMEDAN, and the Soongsil University Consortium intend to help Nigerian entrepreneurs turn their ideas into viable businesses and to build a more sustainable startup ecosystem.
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