When the coronavirus pandemic first really hit Nigeria in March, we all didn't know what to expect. As the impact on supply chains, employment, funding rounds & national economies became more manifest, many startups braced themselves for The End.

As layoffs were announced, some businesses folded up, VC’s (we @vp_fund kept investing) warned of dark times ahead & restructuring experts predicted the beginning of a “great unwinding” after a decade-long boom.

Five months later while challenges persist, especially with the impact on consumer spending & access to working capital, startups that offer virtual learning, telehealth, e-commerce, streaming, and software for remote workers are seeing a surge in demand.

It has been said that in every crisis, there is an opportunity. The COVID-19 pandemic has reduced the cost of customer education and accelerated digital transformation across sectors.

For early-stage startups in our market to remain resilient and maximise these opportunities, surveys including the latest one by @ukngtechhub suggest that access to finance remains a priority need during this crisis.

This pandemic has also reminded us of our interconnected fate, shining a light on how fragile our societies are.

Further emphasising the need for us to support innovative startups that make a social impact by improving the ability of low-income populations to access critically needed healthcare, food and other products or services.

This is why @vplatformhub & @Acumen, with support from @_loftyinc_, are launching the Nigeria Impact Startup Relief Facility (NISRF) to disburse grants to qualifying post-MVP stage, high-growth startups so they remain resilient through the #COVID19 crisis.

The facility will provide equity-free funding of up-to $20,000 each to support startups whose business activities are being adversely affected or modified in response to COVID-19.

We’re now accepting applications; with very strict criteria. So if your startup meets the program criteria, please apply at: http://nisrf.venturesplatform.com 

The collaborating investors, @vplatformhub, @acumen, @_loftyinc_, invite other investors, ecosystem players, development partners, & government institutions to join the Nigeria Impact Startup Relief Facility (NISRF). Interested? Just email us at [email protected]

#NigeriaImpactStartupReliefFacility #NISRF #VenturesPlatform #Acumen #LoftyInc

Thank you to @acumen @_loftyinc_ @BusinessDayNg @oluozone @meghcurran @Mimshachking @DrDotun @AdaezeSokan for all the hard work in making this a reality.