Will Your Business Be Part Of Those Getting Between $10,000 to $250,000 Grants From GEM?
The World Bank and the United Kingdom’s Department for International Development (DFID) in conjunction with the Federal Ministry of Trade and Investment (FMTI) in Nigeria created a $160 million dollars grant (from world bank) and £90 million pounds grant (from DFID) in 2013 to be disbursed to businesses in Nigeria through a program called Growth and Employment (GEM) to enable startups experience real growth and provide employment in the country.
These grants are expected to help accelerate economic diversification, increase overall competitiveness, promote investment, and sustainably increase the number of direct jobs for Nigerians by at least 100,000.
The grant is available only to businesses operating in the five industries below:
- Hospitality & Tourism
- Information Communication Technology
If your business does not fall into any of the categories above, you may not be able to apply for a grant.
While this program was founded on the 29th of July, 2013, it will end in September 2018. So to ensure you are one of the registered businesses to benefit from it before it closes, click here to visit the website and learn more.
If you have issues registering, the steps for registration are listed below:
Registrations Steps for GEM
- Click on the APPLY button
- Fill the basic registration form
- Check your email and click/copy and paste the activation link
- Change your password and login
- Fill the online Technical Assistance application form
- Save and submit once completed.
- Finally, check your email for confirmation
What Is The Criteria To Be Eligible To Apply For The GEM Grant?
- Be a Nigerian 18 years and older
- Operate a registered firm in Nigeria
- Operate in one of the five GEM supported clusters
- Employee less than 100 employees
- Apply Online
How Much Grant Can You Get From GEM?
Depending on the category you fall into, the grant sum ranges from $10,000 to $250,000 per business. You can visit this link to learn more about the grants.
What Is The GEM Selection Process?
The winners of the grants are selected through a professional selection process, where Price Waterhouse Cooper (PWC) is the grant administrator and KPMG is the monitoring and control body for the GEM project.
You can learn more about the GEM project by visiting the Business Innovation Growth (BIG) portal which is where the online application for the grant happens.
What are your thoughts on the GEM grant that will be given to Nigerian entrepreneurs in 2018? Let me know by leaving a comment below.