SMEDAN ACE Project Targets Billion-Dollar Startups and Next-Generation Entrepreneurs
Nigeria’s ambition to produce globally competitive billion-dollar startups received a major boost as the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) launched the ACE Project, a strategic entrepreneurship initiative designed to strengthen startup development while preparing a new generation of business trainers capable of nurturing successful entrepreneurs.
The SMEDAN ACE Project, also known as the Accelerating Clean Entrepreneurship Project, combines entrepreneur training with trainer capacity development to create a stronger support system for Nigeria’s growing startup ecosystem. Rather than focusing solely on entrepreneurs, the programme recognises that experienced trainers and mentors play a critical role in helping innovative businesses scale into globally competitive enterprises.
Speaking during the programme, SMEDAN Director-General Charles Odii said Nigeria possesses enormous entrepreneurial potential that can produce globally recognised companies if founders receive the right support, practical training and access to experienced mentors. According to him, the agency’s long-term vision is to help build businesses capable of becoming Africa’s next billion-dollar startups while creating sustainable jobs and driving economic growth.
A major objective of the initiative is to improve the quality of entrepreneurship education across Nigeria. Participants selected as trainers are expected to return to their communities and transfer practical business knowledge to aspiring entrepreneurs, multiplying the programme’s impact across different sectors and regions.
SMEDAN urged facilitators to go beyond theoretical teaching by equipping entrepreneurs with practical business skills that address real market challenges. The agency encouraged trainers to focus on innovation, problem-solving, financial management, digital transformation, business planning, customer acquisition and sustainable enterprise development.
The ACE Project also places strong emphasis on mentorship. Successful entrepreneurs often benefit from guidance provided by experienced founders, investors and business advisors. Through structured mentorship programmes, startup founders will receive valuable support that can help them avoid common mistakes, improve business decisions and accelerate growth.
Innovation remains at the heart of the programme. Organisers believe Nigerian entrepreneurs possess the creativity needed to solve local and global challenges through technology, manufacturing, agriculture, healthcare, renewable energy and the creative economy. By supporting innovative ideas with quality training and mentorship, SMEDAN aims to strengthen Nigeria’s position as one of Africa’s leading startup destinations.
Another important component of the SMEDAN ACE Project is business incubation. Participants will gain access to practical knowledge on product development, market validation, investment readiness, branding, financial sustainability and scaling strategies that improve the chances of long-term business success.
The programme also encourages collaboration among government agencies, development organisations, financial institutions, private sector partners and entrepreneurship support organisations. Such partnerships are expected to create stronger ecosystems where startups can access funding opportunities, business advisory services, technology and market connections.
Industry experts have consistently noted that Nigeria’s entrepreneurial ecosystem continues to expand despite economic challenges. The country has produced several high-growth technology companies, while thousands of small businesses continue to emerge every year. However, access to quality business education and mentorship remains one of the biggest barriers facing early-stage entrepreneurs.
By investing in trainers as well as entrepreneurs, SMEDAN is adopting a sustainable model for enterprise development. Well-trained facilitators can continue supporting hundreds of business owners long after the programme ends, creating lasting economic impact across multiple industries.
The initiative also aligns with Nigeria’s broader goals of promoting youth employment, innovation, digital entrepreneurship and inclusive economic development. As more young Nigerians embrace entrepreneurship, programmes like the SMEDAN ACE Project are expected to improve business survival rates while encouraging founders to build scalable, investment-ready companies.
Beyond startup creation, the programme seeks to develop entrepreneurs who can compete regionally and globally. Participants will be encouraged to adopt international best practices in business management, innovation, customer experience and corporate governance while leveraging digital technology to reach larger markets.
The SMEDAN ACE Project demonstrates the agency’s commitment to transforming Nigeria’s entrepreneurial landscape through practical learning, mentorship and ecosystem development. By empowering trainers, strengthening entrepreneurship education and supporting innovative startups, SMEDAN is laying the foundation for a new generation of Nigerian businesses capable of creating jobs, attracting investment and producing the country’s future billion-dollar enterprises.
