The Sola and Ibukun Adeyinka (SIA) Foundation has marked a major milestone in Cohort 3 of the SIA Startup Foundry, with six early-stage businesses awarded a combined $10,000 in equity-free grants following one of the most competitive and comprehensive selection processes in the programme’s history.

The journey began with an open call that drew over 1,108 applicants from Nigeria, and across Africa, a proof of the growth, reach and reputation of the SIA Startup Foundry as a platform of choice for ambitious early-stage founders on the continent.

A statement from the Foundation said from the initial pool of over 1,108 applicants, 56 businesses were shortlisted based on their potential for scale, commercial viability, and alignment with critical development sectors.

The statement added, “These founders were enrolled into an intensive one-month virtual bootcamp, a structured curriculum delivered by a faculty of experienced facilitators, each leading dedicated sessions across key business disciplines, including financial management, digital marketing, operational systems, and investment readiness.

“Following the bootcamp, participants presented at a Pre-Demo evaluation that narrowed the cohort to the top 10 ventures. “These finalists were invited to the SIA Foundation’s Lagos office for the Final Demo Day, where they pitched before a panel of distinguished judges drawn from Nigeria’s investment, entrepreneurship, and development sectors. Six ventures were ultimately selected as grant recipients.
“The selection of the six grant recipients was overseen by an esteemed panel of judges drawn from Nigeria’s investment, entrepreneurship, and development sectors.

Speaking on the significance of the judging process, Deji Adebusoye of Sahel Capital stated: “What struck us most was the timeliness of these innovations in addressing real African challenges. The founder’s emotional connection to their problems coupled with their business acumen adds a credibility and authenticity that inspires confidence in execution. These aren’t abstract business ideas; they’re solutions rooted in deep understanding of market gaps.”

Speaking on the conclusion of Cohort 3, Mr. Sola Adeyinka stated: “Our responsibility was not simply to find the best six, it was to ensure that every founder who came through our doors left better equipped to build. The bootcamp facilitators, the judges, and everyone who contributed to this cohort shares in what was accomplished here today.

“The Foundry exists to equip founders to be clear about their vision, to consistently challenge themselves, and to build institutions that will outlast market cycles and create enduring value.”

With Cohort 3 now complete, the SIA Foundation continues to advance its vision of building a generation of structurally sound, investment-ready African enterprises.