The Economic Community of West African States (ECOWAS) has revived its Startup Awards with a $65,000 prize pool for the second edition of the competition, as more than 6,000 entrepreneurs have already applied.
The awards ceremony is scheduled for September 28, 2026, five years after the inaugural edition was held in Niamey, Niger Republic, in 2021.
The winner will receive $30,000, while the first and second runners-up will receive $20,000 and $15,000, respectively.
The Acting Director, Directorate of Private Sector and Industry, ECOWAS Commission, Peter Oluonye, disclosed the development while announcing the competition, saying the initiative was designed to identify, showcase and support innovative businesses capable of addressing economic and social challenges across West Africa.
Oluonye said the 6,000-plus applications received since the portal opened on August 3 would be screened by appointed assessors, with 60 startups eventually shortlisted.
The 60 successful applicants will participate in a masterclass focused on strengthening their entrepreneurial and business management skills, after which the field will be narrowed to 20 finalists who will compete for the three cash prizes.
He said the programme would not be limited to financial rewards, stressing that ECOWAS intended to equip participating startups with the skills, networks and opportunities needed to build sustainable and scalable businesses.
“The ECOWAS Start-up Award is designed to showcase these innovations and multisectoral solutions and enabling policies,” Oluonye said.
The competition will target startups operating in key sectors including fintech, agri-tech and food systems, ed-tech and skills development, cleantech, climate and green innovation, tourism, hospitality and travel technology.
Oluonye said the initiative was also aimed at tackling persistent challenges facing startups, including limited market access, weak financial models and policy constraints.
He said ECOWAS was particularly interested in businesses with strong growth prospects and the capacity to expand beyond their immediate markets.
“It is not just going to be just awarding cheques but to support them to the point that they become an inspiration for the youths,” he said.
The ECOWAS official said the programme would promote inclusion by creating opportunities for young people, women and persons with disabilities to showcase their innovations to potential investors and strategic partners.
He added that the Commission would facilitate digital adoption among micro, small and medium-sized enterprises and connect startups with venture capitalists, impact investors, development partners and financial institutions.
According to him, the broader objective is to strengthen the regional innovation ecosystem and help startups overcome the difficult early stages of the business life cycle and transition into sustainable growth.
“By this programme we seek to support participating Start-ups to navigate these early stages of the business life cycle and help them to scale up into the growth stage,” he said.
Oluonye noted that startups that successfully move into the growth stage would be better positioned to create jobs, generate economic value and contribute to regional development.
He disclosed that the prize pool had been increased from $40,000 in the inaugural edition to $65,000 for the 2026 competition.
The first ECOWAS Startup Awards featured 50 participants in 2021.
Meanwhile, the Director-General, Pan African Alliance of Small and Medium Industry, Dr Henry Emejuo, said the 60 startups for the 2026 edition would be selected through open applications and national startup programmes.
Emejuo said 50 per cent of the participants would emerge from open applications, while the remaining 50 per cent would be drawn from winners of national startup programmes across ECOWAS member states, based on recommendations from ministers responsible for startups.
He urged financial institutions and private-sector organisations to support the participating entrepreneurs, stressing that stronger private-sector involvement would be critical to the long-term sustainability and growth of the businesses.
ECOWAS also announced plans to hold the Startup Awards biennially, positioning the initiative as a regular regional platform for identifying, nurturing, financing and connecting innovative businesses across West Africa.
