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Nigerian Startups Get Covid Lifeline

A new financial relief facility has been launched for Nigerian startups affected by the COVID-19 crisis, which will disburse grants to ensure qualifying post-MVP stage high-growth companies remain viable and resilient. Launched by Ventures Platform and Acumen, with support from LoftyInc, the Nigeria Impact Startup Relief Facility (NISRF) will provide grants of between US$5,000 and US$20,000 to support applicants whose businesses are either being adversely affected or modified in response to COVID-19 for a period of six months. The facility will support impact-oriented startups that are at the post-MVP stage, are high-growth, and can demonstrate the scale of impact, amongst other criteria. The collaborating investors are inviting other investors, ecosystem players, development partners, and government institutions to also join the NISRF.