According to the National Bureau of Statistics (NBS), Nigeria, out of a total Youth labor force
of 38.2 million (representing 48.7% of total labor force in Nigeria of 78.48mn), a total of
15.2mn of them were either unemployed or underemployed in Q1 2016 representing a youth
the unemployment rate of 42.24%.
This leaves employment rate high and having young people practically with no opportunities to participate in the markets; an irony in a predominantly youth nation.
Accelerate LABS will be activating the Small and Medium Scale Engine to accelerate economic development through enterprise development and technology incubation. The goal of this project is to equip 2,500 youths (Across the 6 geo zones in Nigeria) by building socially inclined, high profit, and highly competitive enterprise capable of impacting the GDP.
At the end of one year, Accelerate Labs will empower youths to develop empathy, find clarity of purpose and the needed resource in form of Technology, training, knowledge, mentors and seed funding required for them to build socially responsible enterprises in their communities.
Will it be profitable enough to sustain?
Will it make a positive difference in people’s lives?
Is it an Idea that you like and want to do?
What problem are you trying to solve?
Does it have a market?
Is it scalable?
6 Geo-political Zones
Call for applications
Shortlisted Start-ups Contacted
3 weeks Taught Sessions
4 Weeks Mentoring
3 Weeks Research and Practice