Idea Factory: The Validation Stage

Turn your brilliant ideas into reality and begin your entrepreneurial journey with PennPromise Ventures. Idea factory is an eight weeks immersive program targeted at Northern Nigerian founders with early-stage sustainable and scalable business ideas targeted at tackling systematic problems and creating long-lasting disruptive solutions in key sectors of the African economy. Founders will explore topics and sessions that will assist them in testing, improving, and validating their business ideas so that they are ready to create a product experiment or MVP.

Industry experts have been curated to deliver fundamental topics that will challenge founders to think critically about their business idea.

Objectives of the program

• Validated product statement to fast track your building process
• Intensive workshops to lead aspiring founders through testing, refining and validating their ideas
• Access to our entrepreneurial resources, education and our vast network of mentors
• Enhance Nigeria’s entrepreneurial ecosystem and economy by building a more diverse and equitable founder community

Eligibility criteria

• 16 years and above
• At least one founder from Northern Nigeria
• An idea and a willingness to explore something new

Application Process

Selected startups will participate in the virtual program for 8 weeks

The top 3 Participants who complete the program, validate their idea, and plan to commit a substantial amount of time to pursue a new business will be eligible to receive a minimum viable investment of $5000 to proceed through our venture building process

About Pennpromise Ventures

We are a growth funding and venture building platform that exists to drive transformative growth in middle market economies across Africa. Born out of a passion to invest in high impact start-ups and mentor enterprising underserved and underestimated founders, we aim to provide seamless access to all professional, technical and financial needs of entrepreneurs.