Ekiti State Launches Innovation Enterprise Support Fund to Power Next Generation of Startups.

Ekiti State Launches Innovation Enterprise Support Fund to Power Next Generation of Startups.

 

The Ekiti State Government, under the leadership of Governor Biodun Abayomi Oyebanji, has officially launched the Innovation Enterprise Support Fund (IESF) — a strategic initiative designed to support tech-enabled businesses, high-potential startups, and scale innovation-driven enterprises across the state.

The programme will support startups over a 2-month period, providing a structured pathway from ideation to scale through three phases: Ideation & Incubation, Pre-Acceleration, and Acceleration.

In addition to government backing, the programme is strengthened by additional funding support from FirstBank of Nigeria Limited, reinforcing a strong public-private partnership model for enterprise growth.

Beyond funding, the IESF offers:

-Expert mentorship and advisory 

-Market access and investor connections 

-Capacity development in digital and business skills 

-Technology-enabled selection and evaluation processes 

The Honourable Commissioner for Innovation, Science and Digital Economy, 'Seun Fakuade, emphasized:

“This is not just a funding initiative — it is a deliberate strategy to build a pipeline of globally competitive entrepreneurs and tech-enabled businesses from Ekiti. We are investing in ideas, but more importantly, in people and capacity.”

The initiative is designed to:

1. Strengthen Ekiti’s innovation ecosystem 

2. Create jobs and stimulate enterprise growth 

3. Support youth, women, and underserved communities (fund is intended for at least 40% female-led enterprises)

4. Position Ekiti as a leading subnational innovation hub 

Interested applicants can apply via:

https://iesf.ekitistate.gov.ng/