50 Teams and 120 Participants Selected for Four-Week Entrepreneurship Training
Top Teams to Receive $15,000 and Business Incubation Support
Soongsil University has embarked on nurturing local young entrepreneurs in Nigeria.
Poster for the ACE Startup Academy 2026, a Nigerian startup capacity-building project involving the Soongsil University Startup Support Group. Soongsil University
View original imageOn August 28, Soongsil University announced that it has launched the first phase of the ACE Startup Academy 2026, called Founder Training, in Abuja, the capital of Nigeria. The Startup Support Group at Soongsil University is participating in this Nigerian Entrepreneurial Capacity Building Project.
ACE Startup Academy 2026 is an international development cooperation project jointly promoted by the Korea International Cooperation Agency (KOICA) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). The program attracted 3,856 applicants from across Nigeria. Out of these, approximately 50 teams comprising 120 participants were ultimately selected, resulting in a competitive ratio of about 32.1 to 1 based on the number of participants.
The Founder Training will run for four weeks until next month. It adopts a project-based learning (PBL) approach that integrates team projects, practical exercises, and mentoring, focusing on advancing business models (BM) and the practical application of artificial intelligence (AI). Soongsil University has redesigned its hands-on startup education program, which it operates in Korea, to fit local conditions, concentrating on commercializing startup ideas.
Teams that complete the training will be eligible to participate in a pitching competition to be held in October. The top 10 teams will receive total prize money of $15,000 and a business incubation program lasting approximately six months. Following this, they will also be given opportunities for investment relations (IR) mentoring, demo days, and participation in overseas IR programs held in Korea. Teams that succeed in attracting external investment will also be eligible for matching fund support.
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Hwang Kihyun, Professor at Soongsil University and the project manager, said, “We will support the transformation of selected participants’ ideas into concrete and feasible business models.”
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