Google has opened the application process for the Hustle Academy SMB Fund. It added that the N75 million equity-free fund, dedicated to Nigerian Small and Medium-sized Businesses, would provide N5 million to 15 Nigerian small business owners.
The corporation stated that small enterprises are the backbone of the country’s economy but face finance challenges. “The Hustle Academy Fund is a testament to the resilience and innovation of Nigerian small businesses, which are the backbone of our economy,” said Mojolaoluwa Aderemi-Makinde, Google’s Head of Brand & Reputation, Sub Saharan Africa.
Google hope that the investment would help companies flourish and stimulate economic growth, thereby creating jobs and opportunities for all Nigerians. Hustle Academy, which was launched in 2022, has graduated over 4,000 Nigerian SMEs.
Sinmisola Nojimu-Yusuf, Product Marketing Manager and Hustle Academy Programme Lead at Google, stated, “The Hustle Academy Fund provides SMBs with the resources and support they need to succeed. We help SMBs develop and thrive by providing equity-free capital, mentorship, and opportunities for increased visibility and networking.”
Google is dedicated to assisting the Nigerian entrepreneurial ecosystem, and the Hustle Academy Fund is an important component of that. To be eligible for the fund, businesses must be Nigerian-founded, have been operating in Nigeria for 1-5 years, and have a clear and scalable business plan, according to the firm.