SMEDAN moves to support 100,000 young entrepreneurs with funding

By Abubakar Yunus

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has launched a programme targeting more than 100,000 young Nigerians annually with entrepreneurship support.

The programme, referred to as the Building Resilient Young Nigerian Entrepreneurs (BRYNE) project, was unveiled as part of the agency’s activities to mark International Youth Day 2026.

SMEDAN said the programme will provide support based on the needs and stages of young entrepreneurs, ranging from business ideas to established enterprises seeking to expand.

The initiative will combine enterprise training, incubation, mentorship, access to finance, market opportunities and business development support through physical and digital platforms.

Charles Odii, director-general (DG) of SMEDAN, said the programme was designed to bring several forms of support together for young Nigerians.

“Across the country, we meet young people with ideas, skills and businesses that can grow, but many still struggle to find the right support at the right time. BRYNE brings several of those opportunities together, from training and incubation to finance, markets and mentorship,” Odii said.

“We want more young Nigerians to have a fair chance to build businesses that can survive, grow and create jobs.”

The programme will operate both physically and online, with SMEDAN planning interventions for entrepreneurs in communities and tertiary institutions as well as digital platforms.

SMEDAN said 600 young entrepreneurs will be taken through its incubation programme each year, with focus areas including fashion, woodwork and agriculture.

The agency added that it will also work with the Federal Ministry of Education to bring enterprise support to tertiary institutions, with the initiative will giving student entrepreneurs access to business workshops, advice, networking and platforms to exhibit their businesses.

According to the agency, participating campuses could have as many as 3,000 beneficiaries.

Through BRYNE Digital Connect, SMEDAN said young business owners will also be able to access entrepreneurship education and opportunities to reach customers and markets beyond their immediate communities.

SMEDAN said another part of the initiative would be a weekly startup hackathon designed to engage 5,000 young entrepreneurs.

Fifty-two winners are expected to emerge from the hackathons, with each receiving N250,000 in seed funding.

Bimpe Fawale, deputy director and head of SMEDAN’s Women and Youth Unit, said the programme was designed to recognise that young entrepreneurs require different forms of assistance depending on the stage of their businesses.