Top Scholarships and Grants for Entrepreneurs in 2025 -

Starting a business can be challenging, but with the right support, aspiring entrepreneurs can turn their ideas into reality. Scholarships and grants provide essential funding and resources to help launch and grow businesses. Here are some of the top opportunities available in 2025:

1. Tony Elumelu Foundation (TEF) Entrepreneurship Programme

The TEF Entrepreneurship Programme is a flagship initiative aimed at empowering African entrepreneurs. It offers:

Seed Capital: $5,000 non-refundable funding
Training: Access to the TEF Business Management Training Programme
Mentorship: Guidance from experienced professionals

Application Period: January 1 – March 1, 2025
Eligibility: Open to African entrepreneurs with scalable business ideas
Website: Tony Elumelu Foundation

2. Jim Leech Mastercard Foundation Fellowship on Entrepreneurship

This fellowship provides African students and recent graduates with the opportunity to develop their entrepreneurial skills. Benefits include:

Training: Business bootcamp delivered by Queen’s University faculty
Mentorship: Access to a global network of mentors
Funding: Up to $15,000 CAD in pitch competition prizes

Program Timeline: January – August 2025
Eligibility: Students and recent graduates from African post-secondary institutions
Website: Jim Leech Mastercard Foundation Fellowship

3. Lagos State Employment Trust Fund (LSETF)

LSETF aims to support Lagos-based businesses to reduce unemployment. It offers:

Funding: Grants ranging from ₦250,000 to ₦5 million
Support: Mentorship and business training

Application Period: Ongoing
Eligibility: Entrepreneurs operating in Lagos State
Website: LSETF

4. Bank of Industry (BOI) Youth Entrepreneurship Support (YES) Programme

The BOI YES Programme supports young Nigerian entrepreneurs with:

Funding: Up to ₦10 million
Training: Business development support

Eligibility: Nigerians aged 18-35 with viable business ideas
Website: BOI YES Programme

5. African Women Innovation & Entrepreneurship Forum (AWIEF) Growth Accelerator

AWIEF offers a growth accelerator program for female entrepreneurs, providing:

Funding: $10,000–$25,000
Support: Business development services

Eligibility: Female entrepreneurs with businesses over three years old
Website: AWIEF

These scholarships and grants offer valuable support to entrepreneurs looking to start or grow their businesses in 2025. By taking advantage of these opportunities, you can access funding, training, and mentorship to help turn your entrepreneurial dreams into reality.