LSETF set to commence female founders, funders entrepreneuship programme

The Lagos State Employment Trust Fund (LSETF) is set to commence its six to eight-week female and founders programme for thirty female entrepreneurs.

The programme is focused on entrepreneurship by strengthening business models, building investor readiness, and forging strategic partnerships between founders and funders.

The cohort is managed through the Lagos Innovates initiative and in partnership with Afriglocal VC, and culminates on June 5, with a Demo Day where founders pitch, and funders decide.

Since its launch in 2024, Female Founders & Funders has become one of Lagos State’s most competitive entrepreneurship programmes. This year alone, 178 female founders applied for a place in the cohort. Only 30 made it through in a selection rate, reflecting both the quality of applicants and the rigour of the programme itself.

Oyindamola Egbeyemi, director of Programmes and Coordination, spoke on this, noting.

“This is not just an orientation, it is the beginning of something impactful. Out of 178 applications received this year, 30 participants have been admitted, reflecting the high standard and competitiveness of the programme,” she said.

Across its first two editions, the programme has supported 38 founders, trained 34 aspiring female investors, and put N9 million in grant prizes directly into the hands of women building businesses in Lagos.

Feyisayo Alayande, executive secretary, LSETF, has been clear about what this programme is built to do and what it is built to solve

“Unemployment remains a critical issue in Lagos State, and at LSETF, we are intentional about understanding the real challenges people face. Our programmes are designed to address these pain points and deliver measurable impact,” she said.

The Fund operates across five key pillars, which are access to finance, business support services, employability training, tech ecosystem support, and access to infrastructure, and Female Founders & Funders sits at the intersection of all five

Mope Abudu, managing director of Afriglocal VC, brought the investor perspective into sharp focus.

“Supporting female founders requires more than conversation, it requires capital, representation, and intentionality. We are building a network of female investors who not only understand the realities of business but are also prepared to invest and scale women-led ventures,” she said

For the 30 women in this cohort, the next six weeks could change the trajectory of their businesses and contribute to a Lagos innovation ecosystem that is increasingly difficult for the rest of the continent to ignore.

Ngozi Ekugo

Ngozi Ekugo is a Senior Correspondent at BusinessDay. She holds a Masters in management from the University of Lagos, an undergraduate from University of Lagos, and is in an alumni of Queen's College. Shes currently an associate member of the Chartered Institute of Personnel Management (CIPM). She has a brief experience at Goldman sachs, London in its Human Capital Management division. She is interested in human capital development and is leveraging her varied experience across sectors to report labour and global mobility trends for stakeholders to make informed decisions.