ECOWAS Unveils $65,000 Startup Awards for West African Innovators

ECOWAS Launches $65,000 Startup Awards to Support West African Entrepreneurs

Hope Ajayi August 17, 2026 2 minutes read

ABUJA, Nigeria – The Economic Community of West African States (ECOWAS) has announced a $65,000 prize pool for the second edition of its Startup Awards as part of efforts to strengthen innovation, digital entrepreneurship and regional business growth.

Acting Director of Private Sector and Industry at the ECOWAS Commission, Peter Oluonye, disclosed on Monday that more than 6,000 startups have already applied for the competition.

According to him, 60 startups from member states will be selected, with the overall winner receiving $30,000, while the first and second runners-up will receive $20,000 and $15,000 respectively.

Oluonye explained that the initiative goes beyond financial rewards, as participants will also benefit from a six-month acceleration programme featuring mentorship, capacity building, investor engagement and networking opportunities.

The programme will include startup clinics, investment pitch sessions, exhibitions, deal rooms, policy dialogues and post-award support to help participating businesses scale their operations.

“We are not organising this programme simply to hand out awards and leave the winners. We want to accompany them until they become success stories that inspire other young entrepreneurs,” he said.

He added that ECOWAS aims to encourage collaboration among startups across member states to promote regional trade, knowledge sharing and stronger supply chains.

The competition covers six sectors: EdTech and Skills Development, FinTech, HealthTech, AgriTech and Food Systems, CleanTech and Green Innovation, and Tourism, Hospitality and TravelTech.

Applications opened on August 3 and will close on August 31, followed by virtual masterclasses from September 21 to 25 and the physical programme scheduled for September 28 to 30 at the new ECOWAS Commission headquarters in Abuja.

Oluonye said the broader objective is to create opportunities for young entrepreneurs, women and persons with disabilities while accelerating digital transformation across West Africa.

Officials from the Pan African Alliance of Small and Medium Industries and the Nigerian Investment Promotion Commission also called for stronger collaboration between governments, investors and the private sector to improve access to finance and regional markets.