When MTN Nigeria handed over ₦45 million to a cohort of young entrepreneurs last month, it wasn't just another corporate press release. It was a signal that the telecom giant is betting big on the next generation of Nigerian innovators. The funding, distributed among 30 youth-led startups, marks a significant injection of capital into sectors like health tech, fintech, and creative industries at a time when access to venture capital remains a hurdle for many early-stage businesses.
The announcement came fresh off the heels of "The Gathering on 100," a marathon cultural event held at the National Stadium in Surulere, Lagos. From April 22 to 26, 2026, the stadium buzzed with non-stop music, gaming, and business pitches. It was chaotic, energetic, and oddly enough, exactly the kind of environment where these deals get struck. While the crowd enjoyed the culture, behind the scenes, The Gathering, a prominent youth platform, worked alongside MTN to identify the most promising ventures.
Who Won the Big Prize?
Out of the 30 startups that pitched their ideas, one stood out from the pack. HubPharm Africa, a health technology firm, took home the top prize of ₦15 million. That’s a third of the total pot, and it highlights a clear preference for solutions that address critical infrastructure gaps—in this case, healthcare delivery.
But HubPharm didn’t walk away alone. Other notable beneficiaries included Coconoto Ltd and Rava Send. While the exact amounts awarded to Coconoto and Rava Send weren’t disclosed, their inclusion signals that MTN is casting a wide net. They’re not just funding one sector; they’re looking for innovation across the board. Fintech, education, and creative media all had representatives in the winning circle.
Here’s the thing about startup funding in Nigeria: cash is king, but mentorship is queen. This initiative isn’t just a blank check. It’s part of the "Live It 100" campaign, which blends entertainment with entrepreneurship. The idea? To make business development feel less like a boardroom lecture and more like a movement.
Beyond the Cash: The Live It 100 Strategy
The "Live It 100" campaign is more than a sponsorship deal. It’s a strategic pivot by MTN Foundation to embed itself deeper into the digital economy. By partnering with The Gathering, MTN tapped into an existing community of young creators and technologists who already trust the platform.
The 100-hour experience at the National Stadium was the launchpad. Imagine three days and eight hours of continuous activity. It’s exhausting, sure, but it creates a sense of urgency and excitement. For the startups involved, it was a high-pressure pitch session wrapped in a festival vibe. For the attendees, it was proof that business can be fun—or at least, entertaining.
This approach mirrors similar initiatives globally, where brands use cultural events to drive economic engagement. Think of it as "edutainment" meets venture capital. The twist is that MTN is scaling this up. This wasn’t a one-off event in Lagos. It’s part of a nationwide push.
Nationwide Impact and Training
The scope of MTN’s efforts extends far beyond the ₦45 million grant. According to recent reports, the MTN Foundation has completed phase seven of its ICT and business skills training program. That single phase reached 5,980 participants. When you look at the broader picture, the foundation claims to have impacted 15,362 youth across 30 states.
To put that in perspective, that reach covers 520 of Nigeria’s 774 local government areas. That’s nearly two-thirds of the country’s administrative regions. It’s a massive logistical undertaking, but it shows a commitment to decentralizing opportunity. Too often, tech hubs are concentrated in Lagos or Abuja. MTN is trying to change that narrative by investing in all six geopolitical zones.
The goal is clear: transform Nigeria’s growing youth population into employers of labor. With unemployment rates hovering around 33% (according to the National Bureau of Statistics), creating sustainable jobs through innovative businesses isn’t just good PR—it’s a necessity.
What Does This Mean for Nigerian Startups?
For the winners, this funding provides runway. In the early stages, every naira counts. A ₦15 million grant allows HubPharm Africa to hire talent, upgrade technology, and expand operations without diluting equity too early. For the other 29 startups, even smaller grants can mean the difference between survival and shutdown.
But there’s a catch. Funding comes with expectations. Investors want growth, scalability, and impact. These startups will now be under the microscope. Can they deliver? Will they create jobs? Will they innovate further? The pressure is on.
Experts suggest that this model—combining cultural engagement with direct financial support—is replicable. If other telcos or large corporations follow suit, we could see a surge in youth-led enterprises. But sustainability is key. One-time grants don’t build ecosystems. Continuous support, mentorship, and market access do.
Looking Ahead
The "Live It 100" campaign is still rolling out. With the pilot edition concluded, eyes are now on what’s next. Will there be a second season? Will the geographic reach expand further? And crucially, how will MTN measure success beyond the headlines?
For now, the message is loud and clear: Nigeria’s youth are ready to lead, and some major players are finally listening. Whether this leads to a lasting transformation in the startup landscape remains to be seen. But for those 30 founders holding their checks, it’s a very real start.
Frequently Asked Questions
Which startup received the largest share of the MTN Nigeria funding?
HubPharm Africa was named the top winner, receiving ₦15 million out of the total ₦45 million pool. As a health technology company, its selection reflects a focus on sectors with high social impact potential in Nigeria's current economic climate.
Where did the Live It 100 campaign take place?
The campaign's flagship event, known as "The Gathering on 100," was held at the National Stadium in Surulere, Lagos. The 100-hour non-stop experience ran continuously from April 22 to April 26, 2026, combining cultural performances with business pitching sessions.
How many startups participated in the funding program?
A total of 30 youth-led startups presented their ideas for funding. These businesses operated across diverse sectors including health technology, financial technology (fintech), education, and the creative industry, showcasing the breadth of innovation among Nigerian youth.
Is this part of a larger initiative by MTN?
Yes, this funding is part of the broader "Live It 100" campaign led by the MTN Foundation. The foundation has also conducted extensive ICT and business skills training, impacting over 15,000 youth across 30 states and covering more than half of Nigeria's local government areas.
Who partnered with MTN Nigeria for this campaign?
MTN Nigeria partnered with The Gathering, a well-known youth platform in Nigeria. This collaboration helped organize the cultural and entrepreneurial activities, leveraging The Gathering's established community to engage young Nigerians effectively.
Sports
harsh gupta
June 2, 2026 AT 07:38Oh, look at that. Another telecom giant playing savior while quietly harvesting your biometric data and selling it to the highest bidder.
I mean, sure, give the kids some money so they build apps that track their every move more efficiently. It’s not like we need another layer of surveillance capitalism wrapped in a 'youth empowerment' ribbon. The real agenda is always control. They want you dependent on their ecosystem, grateful for crumbs, and too busy pitching at festivals to notice who really owns the infrastructure. Typical.
Mukesh Katira
June 2, 2026 AT 14:56The ethical implications of corporate philanthropy are often overlooked in the rush to celebrate innovation. One must ask: does this funding truly empower, or does it merely create a class of indebted entrepreneurs beholden to the whims of a multinational conglomerate? True morality lies in systemic change, not in token gestures disguised as charity. We should be wary of any system that requires the benevolence of the powerful to function.
Roop Kaur
June 2, 2026 AT 16:56It is fascinating how the narrative shifts from exploitation to opportunity when money changes hands. The gathering was chaotic, yes, but chaos is just order waiting to be decoded by those who understand the deeper currents. I saw signs of manipulation in the way the pitches were structured-designed to favor certain narratives over others. The youth are being groomed, not empowered. Wake up.
Ankita Bajaj
June 3, 2026 AT 01:49This is actually amazing! I love seeing initiatives that bring energy and creativity together. It’s inspiring to see young people getting the support they need to dream big. Let’s cheer them on!
Manish gupta
June 3, 2026 AT 12:16Please. Don’t be naive. This isn’t about helping anyone; it’s about tax breaks and PR points. You think these startups will survive without MTN breathing down their necks? No. They’re puppets now. And you’re all clapping for the strings being pulled. Pathetic.
Sanjay Kumar
June 4, 2026 AT 15:17While skepticism has its place, we must also recognize the tangible benefits for the recipients. For many young founders, this capital is the difference between failure and survival. Mentorship and community building are crucial components of sustainable growth. Let us focus on supporting these individuals rather than dismissing their achievements due to cynicism.
Gaurav Jangid
June 5, 2026 AT 08:42Wow!!! So much excitement!!! The energy at the stadium must have been electric!!! I can almost feel the vibrations from here!!! 🤩🤩🤩 Who else is dreaming of starting their own business after reading this??? Let’s goooooo!!!
Ghanshyam Gohel
June 6, 2026 AT 14:22It is important to note that the reach of this initiative extends far beyond Lagos. With training programs impacting thousands across multiple states, there is a genuine effort to decentralize opportunity. However, one must remain vigilant against superficial metrics of success. Are these jobs sustainable? Or are they temporary fixes?
Nathan Lemon
June 7, 2026 AT 22:22From a cultural perspective, this event represents a significant shift in how corporate entities engage with local communities. By integrating entrepreneurship with entertainment, MTN has created a model that could be replicated globally. It is a testament to the power of blending tradition with modern economic strategies.
Abhijit Pawar
June 8, 2026 AT 07:18Facts are facts. Money helps. But don’t expect miracles. Keep expectations low.
lavanya tolati
June 9, 2026 AT 12:58I appreciate the effort to include diverse sectors like health tech and creative media. It shows an understanding of the varied needs within the community. Hope this continues to grow organically.
srinivasan sridharan
June 9, 2026 AT 13:35One might argue that the formal structure of such campaigns lacks authenticity. Yet, the results speak for themselves. If it works, it works. Though I remain skeptical of the long-term viability without deeper structural reforms.