Google’s Hustle Academy has awarded N75 million to 15 small and medium-sized businesses (SMBs) in Nigeria as part of its commitment to empowering local entrepreneurs. The total number of graduates from the Hustle Academy has now risen to 10,300, with 5,300 entrepreneurs graduating in 2023, up from 5,000 in 2022.

During the recent graduation ceremony held in Abuja, Google’s West Africa Country Director, Olumide Balogun, highlighted the academy’s mission to provide financial assistance, mentorship, and business tools to small businesses. He emphasized that the program was developed to address the unique challenges faced by SMBs and has offered entrepreneurs opportunities for strategic alliances and operational support.

Since its launch in 2022, the academy has been instrumental in equipping over 10,300 entrepreneurs with the necessary skills to grow their businesses. Balogun noted, “This year’s graduation builds upon the momentum established with last year’s 5,000 graduates, forming an expanding community of businesses committed to growth and learning.”

Along with the graduation, 15 SMBs were selected to receive support from the N75 million Hustle Academy Fund. The fund aims to provide financial assistance, mentorship, and access to essential business tools, helping some of Nigeria’s most promising small businesses.

“The passion and resilience shown by these SMBs are truly inspiring,” Balogun said. “The Hustle Academy is a testament to what focused training and resources can achieve. We are not just celebrating their graduation today; we are recognizing their potential to reshape and invigorate the Nigerian business landscape.”

He praised the creativity of Nigerian entrepreneurs across various industries and their dedication to enhancing their business acumen and expertise.

In his remarks, Charles Odii, Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), expressed support for the initiative, stating that it aligns with the agency’s mandate to boost job creation, reduce poverty, and promote rural industrialization.

Odii further explained SMEDAN’s conditional grant scheme, which provides financial support to small businesses, emphasizing that the initiative requires recipients to commit to employing at least one person. “The multiplier effect of giving these grants to hundreds of businesses could create 200,000 jobs automatically,” he added.

The Hustle Academy’s initiative continues to demonstrate the transformative potential of focused entrepreneurial training and support in Nigeria.