Since 2015, hundreds of accelerator programs have emerged around the world. Investors, development agencies, and government are excited by their potential to drive growth, spur innovation, solve social problems, and increase employment opportunities in emerging markets. In light of this interest, it is important to study the effectiveness and performance of these programs.
In order to better understand these programs in a Nigerian context, the Aspen Network of Development Entrepreneurs (ANDE), in partnership with the Oxfam Work in Progress (WiP) project, developed a knowledge brief: “Accelerating Youth-Led Enterprises in Nigeria”. This brief combines data from the Global Accelerator Learning Initiative (GALI) with information gleaned from a series of interviews and roundtables.
Business accelerators have gained increasing popularity particularly among youth-led teams in Nigeria. According to the knowledge brief findings, youth-led teams were the most common applicants to these programs, and they made up the majority of accelerated ventures. They made up 58% of all applicants and 64% of participating ventures.
The GALI/Oxfam knowledge brief explores the challenges that incubators and accelerators face in providing support to youth-led enterprises in Nigeria. It further highlights recommendations to improve support for these target enterprises. To access the knowledge brief and gain more information on incubators and accelerators in Nigeria, click here.
The Aspen Network of Development Entrepreneurs (ANDE) is a global network of organizations that propel entrepreneurship in emerging markets. ANDE members provide critical financial, educational, and business support services to small and growing businesses (SGBs) based on the conviction that SGBs will create jobs, stimulate long-term economic growth, and produce environmental and social benefits. Ultimately, we believe that SGBs can help lift countries out of poverty.