Six early-stage businesses have been awarded a combined $10,000 in equity-free grants after a competitive and comprehensive selection processes in Cohort 3 of the SIA Startup Foundry, organised by Sola and Ibukun Adeyinka (SIA) Foundation.

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. 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 judges drawn from Nigeria’s investment, entrepreneurship, and development sectors. Six ventures were ultimately selected as grant recipients.

The judges included; Director, Kuramo Capital Management, Omolola Apampa; Partner, Sahel Capital, Deji Adebusoye; Partner, Enzo Krypton & Company, Ayodeji Kurunmi; Chief Executive Officer, United Capital Asset Management Ltd, Dr. Odiri Oginni; and Chief Executive Officer, 8thGear Hub & Ventures, Damilola Obidairo.

These judges evaluated all finalists against critical criteria centered on unit economics, scalable social impact, and operational discipline, ensuring that selected ventures demonstrated not only compelling business models but also the financial rigor and systemic thinking necessary to deploy capital effectively at scale.

Speaking on the significance of the judging process, Adebusoye said, “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 credibility and authenticity that inspires confidence in execution. These aren’t abstract business ideas; they’re solutions rooted in deep understanding of market gaps.”

The six grant recipients include; Torien Farm, Stix and Codes, Garko Rice & Cattle Farm, Solayo Africa, Nuyae Concepts, and LegendVille Energy, collectively represent some of the most pressing opportunity areas on the continent, spanning agritech, edtech, maternal health, clean energy, sustainable manufacturing, and beauty and wellness. Each business demonstrated not only a compelling model but also the operational discipline and strategic clarity to deploy capital effectively.

By directing equity-free funding into these ventures, the SIA Foundation is channelling capital into innovations that address structural gaps conventional financing consistently overlooks; from agricultural supply chain inefficiencies and energy access deficits, to maternal healthcare vulnerabilities and the underrepresentation of sustainably built African consumer brands.

Speaking on the conclusion of Cohort 3, Mr. Sola Adeyinka stated: “Over one thousand entrepreneurs applied to this programme. That number alone speaks to the depth of ambition that exists across this continent. 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. The Foundry’s model, combining open-access opportunity, expert-led capacity building, and patient, equity-free capital, ensures that exceptional founders are never held back by the absence of the right infrastructure, knowledge, or support.