A total of 56 early-stage startups from Nigeria, Ghana and Ethiopia have been selected for the latest cohort of the SIA Startup Foundry 3.0 programme, a one-month bootcamp designed to help founders turn ideas into solid, investment-ready businesses.
The programme started on April 7 and focuses on helping participants improve their business models, develop better products and test their ideas in real markets. At the end of the bootcamp, only 10 startups will move forward to a physical demo day, where they will present their businesses. From this group, six startups will be chosen to receive funding support.
This year’s cohort shows clear progress in the region’s startup space. About 58 percent of the selected companies are already at the seed stage, meaning they have moved beyond basic ideas and are beginning to grow their operations. In addition, 70 percent of the startups were founded within the last two years, showing a strong rise in new businesses across the three countries.
There has also been a shift in the type of startups taking part. While last year’s programme focused more on green energy and sustainability, this year’s group includes more technology-driven companies working across a wider range of industries.
The programme comes at a time when many African startups are finding it harder to raise funds. By helping founders build stronger businesses and prove their ideas, the SIA Startup Foundry aims to improve their chances of attracting investors and growing over time.
Overall, the new cohort highlights both the growing number of young founders in Africa and the need for structured support to help them succeed.
