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Starting and growing a business is an exciting journey, but without funding, even the best ideas can remain just dreams. For many young entrepreneurs, access to finance is the biggest barrier to bringing their innovations to life. Fortunately, across Africa and beyond, numerous organizations are offering grants, funding, and accelerator programs designed to empower youth and support small business growth.
As we step into 2025, more opportunities are emerging to help visionary founders turn their ideas into sustainable ventures. Whether you’re building a tech startup, a creative enterprise, or a social impact project, these top startup grants and funding programs can give your business the boost it needs.
1. The Tony Elumelu Foundation (TEF) Entrepreneurship Programme
The Tony Elumelu Foundation (TEF) is one of the most recognized entrepreneurship programs in Africa. Since its launch, TEF has empowered over 18,000 young entrepreneurs with seed capital, training, and mentorship.
Each selected participant receives $5,000 in non-refundable seed funding, access to TEFConnect (Africa’s largest digital platform for entrepreneurs), and mentorship from industry leaders.
Eligibility:
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Open to African citizens and business owners operating in Africa.
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Business must be for-profit and less than 5 years old.
How to Apply:
Visit TEFCONNECT and fill out the online application when the portal opens (usually between January and March each year).
2. Anzisha Prize Fellowship Program
The Anzisha Prize supports very young entrepreneurs (ages 15 to 22) who are running innovative ventures that create jobs and impact their communities.
Instead of a one-time prize, Anzisha offers a three-year fellowship that provides mentorship, business training, and up to $50,000 in funding through a performance-based structure.
Eligibility:
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Applicants must be African nationals running a business in Africa.
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Business must be operational (not just an idea).
How to Apply:
Applications are accepted year-round at HERE
3. Orange Corners Incubation Programme
Supported by the Netherlands Ministry of Foreign Affairs, the Orange Corners Programme helps young entrepreneurs in several African countries (including Nigeria, Ghana, South Africa, and Morocco) turn ideas into sustainable businesses.
Participants receive 6 months of business incubation, training, mentorship, and access to startup funding up to €10,000.
Eligibility:
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Applicants must be between 18 and 35 years old.
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Must have a viable business concept that addresses a local challenge.
How to Apply:
Check your country-specific application details at HERE
4. GoGettaz Agripreneur Prize
For young Africans passionate about agriculture and food innovation, the GoGettaz Agripreneur Prize is a fantastic opportunity. It awards two entrepreneurs (one male and one female) each $50,000 in grant funding.
The program focuses on innovative businesses in the agriculture and agribusiness sectors, including food processing, logistics, and agri-tech.
Eligibility:
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Open to African citizens aged 18–35.
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Business must be at least 6 months old and actively operational.
How to Apply:
Applications open annually via their website
5. African Development Bank (AfDB) Youth Entrepreneurship and Innovation Multi-Donor Trust Fund
The AfDB supports youth-led startups and innovation hubs across Africa through grants, technical assistance, and training. While the program works primarily through partners, entrepreneurs can benefit by joining affiliated projects or applying through national innovation hubs.
This initiative focuses on scaling businesses that promote inclusive growth, digital innovation, and sustainability.
Eligibility:
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Youth-led startups in Africa with scalable business models.
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Focused on tech, green growth, or social innovation.
How to Apply:
Visit the Official website for country-specific programs and partner opportunities.
6. Hult Prize Global Challenge
Often called the “Nobel Prize for Students,” the Hult Prize is a global startup competition that challenges young people to solve pressing world issues through business innovation.
Each year, the Hult Prize focuses on a new theme, such as climate action, food systems, or sustainable cities — and awards $1 million in seed capital to the winning team.
Eligibility:
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Open to university students (undergraduate and postgraduate) worldwide.
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Teams must consist of 3–4 members.
How to Apply:
Register through your university or online at HERE
7. Global Innovation Fund (GIF)
The Global Innovation Fund provides funding to organizations and entrepreneurs with innovative solutions that improve the lives of people in developing countries. Grants range from $50,000 to $15 million, depending on project scale and impact.
Eligibility:
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Open to startups, nonprofits, and social enterprises worldwide.
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Must demonstrate measurable social impact.
How to Apply:
Submit your concept note through their Official website
8. The YouthConnekt Africa Hub Programs
Backed by the United Nations Development Programme (UNDP), the YouthConnekt Africa initiative promotes youth empowerment through entrepreneurship, skills development, and innovation challenges.
The program offers funding, mentorship, and networking opportunities for startups across Africa, particularly those led by young people or women.
Eligibility:
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African entrepreneurs aged 18–35.
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Business should address social or environmental challenges.
How to Apply:
Follow updates and calls for applications
9. She Leads Africa (SLA) Accelerator Program
For women entrepreneurs, the SLA Accelerator Program is one of Africa’s leading startup support platforms. It provides training, mentorship, and seed funding to female founders.
Past participants have received funding from global investors and gained access to international business networks.
Eligibility:
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Female-led startups in Africa.
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Businesses should be early-stage but have strong growth potential.
How to Apply:
Visit here to check for the latest program cycle.
10. Seedstars Africa Competition
The Seedstars World Competition is a global startup competition that identifies and invests in promising early-stage ventures from emerging markets. African finalists receive access to the Seedstars Growth Program, mentorship, and potential equity investment of up to $500,000.
Eligibility:
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Early-stage tech or impact startups in emerging markets.
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At least one full-time founder.
How to Apply:
Learn more at their official website
Final Thoughts
2025 is shaping up to be an exciting year for young entrepreneurs in Africa and beyond. The growing number of startup grants, competitions, and accelerator programs proves that the world is paying attention to youth innovation and the power of new ideas.
If you have a business that solves a real problem, this is your moment to take action. Research these opportunities, prepare your proposals carefully, and apply early. Even if you don’t win on your first attempt, the experience and exposure you’ll gain are invaluable.
Remember, the future of Africa’s economy rests in the hands of its young entrepreneurs — and with the right funding and determination, your startup could be the next big success story.