# SMEDAN Unveils N100m Fund and Pitch Competition to Create 100 Millionaire Entrepreneurs

> SMEDAN has unveiled a N100m fund and Zero to 100 Pitch Competition to create 100 millionaire entrepreneurs through training, grants and market access.

- Published: 2026-11-06T07:16:59+00:00
- Section: Funding
- Author: News Desk
- URL: https://newsforagent.com/news/2026-11-06/smedan-n100m-fund-entrepreneurs
- Source: [Punch Newspapers](https://punchng.com/smedan-unveils-n100m-fund-for-100-entrepreneurs/)

## Key takeaways

- SMEDAN unveiled a N100m fund aimed at creating 100 millionaire entrepreneurs through training and grants.
- The Zero to 100 Pitch Competition carries a N100m prize pool, with disbursements at the Lagos conference and a northern Nigeria event.
- Final and prize presentations are scheduled for November 10, with a NAFDAC summit on November 9.

SMEDAN has unveiled a N100m fund to create 100 millionaire entrepreneurs through business training and financial grants, with a Zero to 100 Pitch Competition carrying a N100m prize pool. [Punch Newspapers](https://punchng.com/smedan-unveils-n100m-fund-for-100-entrepreneurs/) reported the initiative will feature at the GROW Nigerian Conference 2026 in Lagos.

## How the GROW Conference Fund Works

The Small and Medium Enterprises Development Agency of Nigeria said in a statement issued on Thursday that the initiative combines practical business masterclasses with financial support and market access opportunities for selected entrepreneurs. Grants will be distributed at the conference and another event in northern Nigeria, with the final and prize presentations scheduled for November 10.

Charles Odii, the Director-General of [SMEDAN](https://akta.pro/company-profiles/000rp7z/smedan), said the initiative was designed to bridge the gap between entrepreneurial skills and the financial resources required to establish and expand viable businesses. He said many Nigerians possessed business ideas and practical skills but lacked the capital and management knowledge to turn them into sustainable enterprises.

"For someone who has learnt a skill but cannot afford the tools to begin, access to capital can change their prospects," Odii said. "For an existing business, knowing how to price properly, attract customers and manage money can determine whether that capital produces growth."

Odii added that the ambition to create 100 millionaires brings these needs together, and that entrepreneurs should leave the conference with useful skills, financial support and connections to build businesses capable of sustaining livelihoods and employing others. The agency is positioning the gathering as a platform for connecting small businesses with investors, financial institutions, regulators and potential customers.

The programme will feature the Nigeria First Fair, a marketplace where members of the public can buy products directly from Nigerian businesses, discover local brands and establish commercial relationships with entrepreneurs. Odii urged Lagos residents to patronise participating businesses as preparations for the festive season gather momentum.

"We are inviting people to come and shop Nigerian," he said. "As you prepare for the festive season, there is an opportunity to discover something new, buy directly from local businesses and help an entrepreneur finish the year stronger."

## SMEDAN's Earlier Funding Commitments

According to akta.pro [company records](https://akta.pro/company-data), SMEDAN secured a $12 million commitment from the South Korean Government in June 2026 to establish a Skills Acquisition Centre in Abuja for vocational and entrepreneurial training. The same records show the Federal Government, through the Bank of Industry and SMEDAN, earmarked N50 billion for graduate entrepreneurship loans under the Renewed Hope Agenda.

## Earlier SMEDAN Financing Initiatives

On October 30, 2026, THISDAYLIVE reported that AGRA, SMEDAN and EDC are piloting a business development services project in Kaduna, Niger and Nasarawa states to improve finance access for agricultural SMEs. Punch Newspapers reported on October 10, 2026, that AGRA, SMEDAN and Jesnoch opened a national agribusiness contest for young Nigerians aged 18-35, offering seed funding, mentorship and training, with ten winners to receive funding and introductions to financiers. On September 18, 2026, THISDAYLIVE reported that SMEDAN, KOICA and UNDP broke ground on a $12 million Abuja Centre for Entrepreneurship, a facility that will support 500 young entrepreneurs and 400 start-ups.

## NAFDAC Summit Before the Prize Presentations

A dedicated NAFDAC summit on November 9 will bring regulators and business owners together to discuss registration bottlenecks and demonstrate the agency's NAPAMS platform, ahead of the November 10 final and prize presentations.

## Companies in this story

- [SMEDAN company profile](https://akta.pro/company-profiles/000rp7z/smedan) · website: http://www.smedan.gov.ng

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