Google has introduced the Hustle Academy SMB Fund, now open for applications, aimed at Nigerian Small and Medium-sized Businesses (SMBs). This initiative offers an equity-free fund of N75 million, with N5 million granted to each of the 15 selected Nigerian small business owners.
In a statement, Google acknowledged the vital role played by small businesses in the Nigerian economy while highlighting their struggles in securing funding. Mojolaoluwa Aderemi-Makinde, Head of Brand & Reputation, Sub Saharan Africa at Google, expressed optimism about the fund's impact on Nigerian small businesses, emphasizing their resilience and innovation as the backbone of the economy.
Google's Hustle Academy, introduced in 2022, has already seen over 4,000 SMEs graduate in Nigeria. Sinmisola Nojimu-Yusuf, Product Marketing Manager and the Hustle Academy Programme Lead at Google, explained that the Hustle Academy Fund provides SMBs with essential resources and support, including equity-free funding, mentorship, and opportunities for increased visibility and networking, ultimately aiding SMBs in growth and success.
Google reaffirmed its commitment to bolstering the Nigerian entrepreneurial ecosystem, with the Hustle Academy Fund being a significant part of that commitment. To qualify for the fund, businesses must be Nigerian-founded, have operated within Nigeria for 1-5 years, and possess a clear and scalable business plan.
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