The iDICE Startup Bridge operates under the broader Investment in Digital and Creative Enterprises (iDICE) Programme, an initiative of the Federal Government of Nigeria implemented through the Bank of Industry (BOI) and financed by the African Development Bank (AfDB), Agence Française de Développement (AFD), and the Islamic Development Bank (IsDB).

The programme forms part of a coordinated national effort to unlock job creation, strengthen enterprise development, and expand access to capital within Nigeria’s digital and creative sectors.

Recognizing that founders at different stages require different kinds of support, the iDICE Startup Bridge is delivered through two distinct pathways:

Founders Lab, which is now open to applications, is a 12-week capacity-building programme designed for idea-stage and early prototype founders.

The pathway focuses on validation, business model development, and MVP creation, supported by a structured curriculum delivered by expert facilitators. Each year, 250 participants will receive capacity-building support and mentoring.

One hundred (100) high-performing participants who meet the programme’s defined milestones will be awarded grants of up to ₦10,000,000 to support product development or the launch of their ventures.

Growth Lab, scheduled to launch in a subsequent phase, is designed for post-MVP startups demonstrating traction, revenue potential, and operational readiness.

All selected startups will receive $100,000 (or Naira-equivalent) in equity investment, alongside support to scale operations, strengthen governance, and refine their fundraising strategy.

The programme will provide a direct pipeline to institutional investors to enable follow-on funding. Startups that secure additional investment from qualified external investors may also access match funding.

Over successive cohorts, the iDICE Startup Bridge is expected to support more than 500 Nigerian tech startups nationwide, thereby strengthening Nigeria’s innovation pipeline and expanding access to structured early-stage capital.

Commenting on the broader vision behind the programme and its strategic significance, Vice President Kashim Shettima, who is the Chairman of the iDICE Steering Committee, noted that,

“iDICE (Investment in Digital and Creative Enterprises) was created to unlock sustainable jobs and economic inclusion for Nigeria’s youthful population.

This programme, created under the iDICE umbrella, gives young entrepreneurs across the country a real opportunity to build or scale, and we are confident in its ability to reshape early-stage enterprise development and innovation outcomes over time.”

Dr. Olasupo Olusi, managing director and chief executive officer of the Bank of Industry, Nigeria’s foremost development finance institution, reaffirmed BOI’s role in strengthening the country’s innovation pipeline.

“As the implementing agency of the iDICE Programme, the Bank of Industry is proud to support the iDICE Startup Bridge through which we are creating clear pathways for ideas to become enterprises, and enterprises to become engines of growth. In 2025, we achieved a record total disbursement of N636 billion to enterprises across various sectors in Nigeria, marking the largest annual disbursement in the Bank’s history and reinforcing our position as the nation’s leading development finance institution for industrial and enterprise growth. Out of this figure, N43 billion was disbursed to projects in the creative & digital sectors. We are happy to replicate our success over time with the iDICE Startup Bridge as well.”

He said,

“Applications for Founders Lab open today, March 16, 2026, and close April 20, 2026. Selection will be conducted through a clearly defined, merit-based evaluation process aligned with published criteria, and interested individuals may now apply at www.idicestartupbridge.ng.”

Speaking on the programme’s intent and outcomes, Cindy Ezerioha, head of Founders Lab, iDICE Startup Bridge, highlighted the programme’s structured approach:

“Founders Lab is a bridge that connects potential to proof, and proof to capital. Each cohort will support 125 aspiring entrepreneurs, with a clear target of ensuring progress from concept to validated business models. This programme is built for people with innovative ideas, early prototypes, or unanswered questions about how to take their first real step.”

The landmark transaction also represented a 42.5 per cent oversubscription as the bank takes advantage of the syndicated loan market.

The facility includes a fully guaranteed and a partially guaranteed tranche by Africa Finance Corporation (AFC).

The development finance institution had raised €1 billion via a term loan syndicated facility in July 2022, which was successfully repaid in July 2024.

The performance represented a mark of confidence in the bank and the Nigerian economy by foreign investors who perceive a bright future for the country.

In a statement, Dr. Olasupo Olusi, the managing director/chief executive, Bank of Industry, said the proceeds of the loan will help finance a growing demand for BoI funds across the country.

Olusi is a distinguished economist and seasoned development finance expert, with a remarkable over two-decade career dedicated to shaping economic policies, fostering fiscal sustainability, and driving private and financial sector development on a global scale.

He brings a wealth of expertise to Bank of Industry, honed through his extensive tenure with prestigious institutions such as the World Bank and the International Finance Corporation (IFC).

He said, “This is the largest syndication in the bank’s history and is testament to the hard work and dedication of the management of BoI to ensuring that much needed low interest and longer tenured funds are available to Nigeria’s growing private sector in line with the vision of His Excellency President Bola Ahmed Tinubu.

“We are grateful for the support received from the CBN and other agencies of government.”

Olusi further assured that the bank under his leadership will continue to work with global development financial institutions to ensure better loan terms for Nigeria’s private enterprises.

The bank appointed the AFC and Standard Chartered Bank as the Global Coordinators of a €1bn syndicated term loan facility (with accordion of another €1 billion).

Also, AFC, African Export-Import Bank, First Abu Dhabi Bank PJSC, FirstRand Bank Limited (London Branch), acting through its Rand Merchant Bank division, Mashreqbank psc, SMBC Bank International plc, and Standard Chartered Bank were appointed as the Initial Mandated Lead Arrangers and Bookrunners.

In addition, Absa Bank Limited (acting through its Corporate and Investment Banking division) and its affiliates and Export-Import Bank of India London Branch have also joined the facility as Initial Mandated Lead Arrangers.

BOI is looking forward to a successful conclusion of the ongoing general phase, given the level of interest expressed by the local and international banks and investors.

On monday, 2nd September 2024, President Bola Tinubu approved the appointment of Dr. Olasupo Olusi to serve as the Managing Director and Chief Executive Officer of the Bank of Industry for a term of four years.

Olusi’s appointment follows the voluntary resignation of the immediate past MD/CEO of BoI, Olukayode Pitan.

But who is Dr. Olasupo Olusi? Olasupo is the son of Professor S. O. Olusi, a former dean of the College of Health Sciences at Obafemi Awolowo University, Ile Ife, Osun State. His mother, Professor Janet Omolara Olusi, is also an academician and retired from OAU as a professor of economics.

Academic Trajectory
Dr. Olusi holds a B.Sc. in Economics from Hull University, UK; an M.Sc. in International Money, Finance, and Investment from the University of Durham, UK; and a Ph.D. in Economics, also from the University of Durham. He is a proud member of the Royal Economic Society (United Kingdom) and the American Finance Association (USA).

Career Exploits
His illustrious journey commenced at the World Bank, where he significantly contributed to capital markets reform and conducted groundbreaking research on finance and private sector development in the Middle East and North Africa.

Over the years, Dr. Olusi has assumed pivotal roles, including serving as a World Bank Country Economist for several countries, an Economic Adviser at the Federal Ministry of Finance in Nigeria, and a Senior Private Sector Specialist at the International Finance Corporation (IFC).

In the sphere of fiscal policies and debt management, Dr. Olusi brings his expertise to bear in ensuring financial stability and transparency, a testament to his commitment to responsible economic practices.

With a proven track record in project management, financing, and implementation, he has successfully led diverse projects, showcasing proficiency in both lending and non-lending spheres.

His strategic vision includes creating an enabling environment for businesses through thoughtful policy reforms. Dr. Olusi’s adept knowledge and management skills contribute to impactful initiatives, including newsletters and inspirational lecture series.

Furthermore, Dr. Olasupo Olusi’s comprehensive approach encompasses nurturing entrepreneurship and fostering overall business development.

His multifaceted expertise positions him as a valuable leader in shaping economic landscapes and driving transformative change.

Noteworthy accomplishments include leading multi-million-dollar development projects, steering private sector diagnostics, and managing investment lending initiatives.

Dr. Olusi played a pivotal role in delivering the World Bank Group’s inaugural comprehensive assessment of Nigeria’s private sector in 2020.

In his current role as the Managing Director and CEO of the Bank of Industry, Dr. Olusi will be steering the organization towards transformative and competitive economic endeavors.

Leveraging his profound understanding of macroeconomic dynamics, his leadership is marked by a commitment to sustainable development, strategic planning, and localized implementation of corporate priorities.

Devoted to the growth of Micro, Small, and Medium Enterprises (MSMEs), Dr. Olusi  would  actively works towards economic diversification and drives impactful reforms in public sector entities, emphasizing improved governance and efficiency.

Actively engaged in collaboration with multiple stakeholders, co-leading knowledge management initiatives, and spearheading impactful projects, Dr. Olusi continues to make significant contributions to the success and resilience of Nigeria’s industrial landscape.

The five thematic areas of focus under his leadership at BOI are SMEs, Digital Transformation, Youth and Skills, Gender, and Climate. Additionally, there will be special focus and strategic initiatives that will be game changers for Nigeria’s private sector.