On Thursday, a diverse group of 250 women graduated from the fourth cohort of the Academy for Women Entrepreneurs (AWE) and joined 520 other Nigerian businesswomen who have benefitted from the program.  

Designed to help women realize their economic potential, the AWE program is a U.S. government initiative that supports women entrepreneurs around the world and connects them with funding opportunities that facilitate their business expansion and entrepreneurial success.   

The U.S. Department of State established the Academy for Women Entrepreneurs in 2019 to provide women entrepreneurs with the skills, resources, and networks needed to start and scale successful businesses.  

In partnership with Venture Garden Foundation and Ascend Studios Foundation, founded by Inya Lawal, an alumna of the Fortune-U.S. Department of State Global Women’s Mentoring Partnership program, the U.S. Mission has successfully supported the training of 770 women entrepreneurs through the Academy for Women Entrepreneurs program. 

This year’s participants included 50 female repatriated irregular migrants who are in various stages of building their businesses.

Their successful participation has equipped them with the requisite skills and knowledge they need to take their ventures to the next level while helping them to reintegrate into society.   

U.S. Consulate Acting Consul General James Suor, in his remarks, highlighted the importance of empowering women and girls for economic growth. 

“When women are economically empowered, they re-invest in their families and communities, producing a multiplier effect that spurs economic growth and contributes to peace and stability,” Suor said. 

He explained that women’s empowerment and economic integration are key to Nigeria’s long-term economic development.  

Suor expressed great pride in the graduates, noting that women entrepreneurs are a growing market force that serves as a critical source of innovation for job creation and economic growth. 

“Through programs like Academy for Women Entrepreneurs, our two countries are working together towards a peaceful, stable, and prosperous future for Nigeria” he added. 

Founder of Ascend Studios Foundation, Inya Lawal, in her remarks, lauded the continuous support of the U.S. government which has helped her foundation to equip participants with business management and networking skills that are required to create and run successful and sustainable businesses.   

AWE is centered around a three-month, rigorous online course called DreamBuilder, developed by Arizona State University’s Thunderbird School of Global Management and the U.S. copper mining company Freeport McMoran. 

On Monday, the U.S. Consulate hosted a virtual event to welcome 250 Nigerian businesswomen selected to participate in the fourth cohort of the Academy for Women Entrepreneurs (AWE), a U.S. government initiative that supports women entrepreneurs around the world.

A collaboration between the U.S. Consulate General Lagos, Venture Garden Foundation, and Ascend Studios Foundation, founded by Inya Lawal, an alumna of the Fortune-U.S. Department of State Global Women’s Mentoring Partnership program, will support the training of 250 women entrepreneurs selected from a pool of over 16,200 applicants.

The participants cut across industries such as technology, fashion and textiles, entertainment, health, renewable energy, and agri-business.

Delivering remarks during the virtual program, U.S. Consulate Deputy Public Affairs Officer Jennifer Foltz explained that the AWE program was established in 2019 by the U.S. government to equip women entrepreneurs with the skills, resources, and networks needed to start and scale successful businesses.

“When women are economically empowered, they re-invest in their families and communities, strengthening the social fabric of society and education and skill levels of the workforce. This multiplier effect spurs economic growth and enhances stability, and we have seen that time and time again with our AWE graduates,” Foltz said.

Tesilimi Yusuf, Group Head of Vibranium Valley and New Businesses at Venture Garden Group, encouraged the participants to stay focused and committed as they learn new skills that will enable them to impact lives and their communities. “It is important that participants recognize that this is a once in a lifetime opportunity through which poverty can be reduced in the society and lives transformed completely.”

Bolupe Adebiyi, a 2019 graduate of the program and founder of Cotton Loops, a design and curation brand, shared how AWE has provided her access that has opened endless opportunities for her business.

“I have been able to raise more than $50,000 in non-equity funding after I graduated from the AWE program in 2019,” she explained.

Over the next three months, participants will acquire business management and tech skills, and connect with networks of business leaders, women entrepreneurs, and mentors who will facilitate lessons related to business management such as preparing business plans and raising capital.

Beyond learning in the academy, participants will continue to be mentored and encouraged to share, learn, and network with AWE alumnae and members of their cohort.

A total of 520 women entrepreneurs in Nigeria have participated and graduated from the AWE program established in 2019 by the Department of State’s Bureau of Educational and Cultural Affairs (ECA) to augment the existing slate of projects focused on women and economic empowerment.