By Oluwakemi Kindness
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has launched a new initiative to support more than 100,000 young Nigerian entrepreneurs annually.
The agency unveiled the Building Resilient Young Nigerian Entrepreneurs (BRYNE) Project as part of activities marking International Youth Day 2026.
SMEDAN said BRYNE will combine enterprise training, incubation, mentorship, access to finance, market opportunities and business development support.
The agency’s Director-General and Chief Executive Officer, Charles Odii, said the project will provide practical support to young Nigerians at different stages of entrepreneurship.
A statement on Friday by the Corporate Affairs Unit SMEDAN, quotes Odii as saying many young people have viable ideas and businesses but struggle to access the right support, finance and markets.
₦250,000 Seed Funding for Startup Winners
A key component of BRYNE is a weekly startup hackathon designed to provide business education and opportunities to 5,000 young entrepreneurs.
According to SMEDAN, 52 selected winners will receive ₦250,000 each in seed funding, with one winner selected every week.
This amounts to ₦13 million in seed funding if all 52 weekly awards are made.
Campus-Based Enterprise Support
The agency will also introduce the Campus Enterprise Engagement Platform in collaboration with the Federal Ministry of Education.
SMEDAN said the platform will take practical business support to tertiary institutions through workshops, advisory sessions, networking and exhibitions for student-owned businesses.
It targets up to 3,000 participants per participating campus.
Digital and Incubation Support
Through the BRYNE Digital Connect, SMEDAN will provide entrepreneurship education and promote youth-led and grassroots businesses online.
The platform will also help entrepreneurs access wider markets and build digital communities around enterprise development.
Meanwhile, the SMEDAN Incubation Programme will support 600 young entrepreneurs annually in sectors including fashion, woodwork and agriculture.
The agency said beneficiaries will also gain access to business formalisation, funding, mentorship, investor and market linkages, business information and export support.
SMEDAN said the BRYNE Project is designed to help more young Nigerians build sustainable businesses and create jobs.
