The Growth and Employment (GEM) project under the Business Innovation Growth (BIG) programme, implemented by the Federal Ministry of Industry, Trade and Investment (FMITI) and supported by the World Bank is providing business grants tagged GEM grants to promising Nigerian Entrepreneurs to the tune of $30,000.
The project became effective in July 2013, and will close in September 2018.
The project is primarily designed to support and scale up manufacturing and service sectors, specifically supporting Information and Communication Technology, entertainment, tourism and hospitality, light manufacturing (and agro-processing industries) and construction.
Nigerian entrepreneurs in the aforementioned areas are expected to apply if they meet the eligibility requirements listed below.
Performance Grant Eligibility Criteria:
Firms which GEM will consider for funding under this window must meet the following criteria:
The Firm must be an existing Micro, Small and Medium scale Enterprises for-profit private sector firm.
The firm must be registered on the BIG platform
The firm must have received notification that it has attained the minimum points that qualify the firm for a performance grant (upon registration)
The firm must be a for-profit private sector company, partnership or sole trader. Unregistered firms or entrepreneurs can be eligible but will need to show evidence of a business registration at the time of the agreement signature
The firm must be operating in Nigeria
The firm must be operating in any of the following sectors ICT, Entertainment, Light Manufacturing (Agri-business & Industrial processing), Hospitality & Tourism and Construction & Real estate, or any activities related to one of these sectors
The firm must have no more than a fifty (50) full-time employees
GEM grants must be requested for utilization on eligible costs or activities
The firm must satisfy the requirements on Environmental and Social compliance; and
The firm’s application must demonstrate that the GEM grants will result in increased sales for the business, increased value added per worker and creation of new jobs
Please note that there are no matching fund requirements for the performance grants.
Eligible costs/activities (i.e. activities covered by the grant)
Performance grants will fund technical assistance, equipment and goods. The grant will be tied to a business plan which details how the firms intends to use GEM funds
Process of Selecting Beneficiaries of the GEM grant
Firms are invited for an Induction workshop
- Eligible firms are admitted to BIG services
- Participating firms earn points on completion of technical support and capacity building programs.
- On accumulating the required number of points, eligible firms are invited to participate in the GEM business plan competition.
- Submitted business plans are evaluated and undergo due approvals
- Final successful firms are selected for grant award
Important: Successful grantees (those who receive the grants) will sign a contract with the Federal Ministry of Industry, Trade and Investment (FMITI). The contract commits the grantee to the terms and conditions of the grant.
You can read the full details in the GEM grants terms and conditions to learn more about the programme.
Visit the GEM grants application portal to apply for your grant now.
Deadline for application: December 15, 2016
Or, visit the Business Innovation Growth GEM website now to get started with the application process.
Good Luck as you apply.
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