SIA Startup Foundry 3.0 has commenced, bringing together a new cohort of early-stage founders in West Africa, as startups across the region face increasing pressure to turn ideas into investable businesses.

The programme, which began on April 7 with a welcome session, features a one-month bootcamp focused on business model refinement, product development and market validation.

It will be followed by a pre-demo phase, with participants narrowed to 10 finalists for a physical demo, and six ventures selected for funding support.

A total of 56 startups from Nigeria, Ghana and Ethiopia are participating, with 58 per cent at the seed stage and 70 per cent established within the last two years, indicating a strong pipeline of newly-formed ventures.

Sector trends show a shift from last year’s focus on green energy and sustainability to more technology-driven solutions. This year’s cohort is largely driven by artificial intelligence applications across education, agriculture and healthcare. Education technology and agriculture account for nearly half of the startups, while health, recycling and broader tech solutions make up the rest.

The programme also recorded 17 female-led startups, representing about 30 per cent of the cohort.

Despite the growing innovation, many startups remain early in their commercial journey. While 98 per cent have a digital presence and are integrating technology, most have limited access to formal funding.

Co-chair of SIA Foundation, Sola Adeyinka, said the initiative aims to help founders build structured and scalable businesses.

He noted that many entrepreneurs struggle to move beyond informal operations, adding that the programme is designed to equip them with the knowledge and structure needed to attract investment and achieve long-term growth.