The Creative Economy Development Fund (CEDF) has opened applications for its Phase 2 Equity and Grant. This program is designed to support entrepreneurs, startups, and businesses in the creative sector with funding and technical assistance. If you run a creative business in Nigeria or plan to expand into this field, this opportunity can provide you with the resources you need to grow and thrive.
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About the Creative Economy Development Fund (CEDF)
The Creative Economy Development Fund (CEDF) was established to strengthen Nigeria’s creative industry by providing access to equity investment and grants. It focuses on sectors such as fashion, film, music, digital arts, and related creative businesses. Phase 2 of the initiative continues the mission of empowering entrepreneurs, creating jobs, and promoting sustainable growth in the creative economy.
The fund offers two key options:
Equity Investment: The Creative Economy Development Fund (CEDF) Phase 2 provides equity investment, Loans and strategic support to established creative businesses and projects within the cultural and creative industries (CCI) that demonstrate strong commercial potential and are ready for growth and expansion.
This phase focuses on scaling successful creative enterprises, supporting market-ready products/services, and building sustainable business models that contribute to Nigeria’s creative economy growth.
CEDF Grant: The Creative Economy Development Fund (CEDF) provides targeted grant support to projects and businesses within the cultural and creative industries (CCI) that are not expected to achieve commercial profitability within the next five years, yet demonstrate clear and measurable potential for significant social impact or for strengthening the wider CCI ecosystem.
Requirements and Eligibility
Applicants must meet the following conditions:
- Must be operating in Nigeria’s creative sector (fashion, film, arts, digital media, etc.).
- Should have a registered business with the Corporate Affairs Commission (CAC).
- For equity investment, the business must demonstrate strong growth potential and scalability.
- For the CEDF Grant, applicants can be startups or early-stage businesses with innovative ideas.
- Applicants must provide financial records, a business plan, or a pitch deck.
- Must show commitment to job creation and social impact.
Benefits of the Fund
Selected applicants will enjoy several benefits, including:
- Access to funding through equity investment or grants.
- Business development support, including mentorship and advisory services.
- Networking opportunities with industry leaders and investors.
- Enhanced visibility for creative businesses.
- Contribution to Nigeria’s broader economic development goals.
Selection Criteria and Process
The selection process involves several stages:
- Application Screening: Verification of eligibility and submitted documents.
- Business Evaluation: Assessment of innovation, sustainability, and growth potential.
- Shortlisting: Promising businesses will be shortlisted for interviews or pitching sessions.
- Final Selection: Chosen applicants will receive funding support under either the equity investment or grant category.
Key factors considered include:
- Creativity and uniqueness of the business idea.
- Potential for scale and job creation.
- Social and economic impact on communities.
- Capacity of the team to manage funds effectively.
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Application Deadline
Applications for the Creative Economy Development Fund (CEDF) – Phase 2 Equity and Grant are currently open. Interested applicants should apply before the official deadline to avoid disqualification. Late applications will not be considered.
How to Apply
To apply for the CEDF Phase 2 Equity or Grant:
- Visit the official application portal. HERE
- Create an account or log in if you already have one.
- Fill in the required information, including business details and financial data.
- Upload supporting documents such as CAC registration, pitch deck, and business plan.
- Submit the application and wait for confirmation.
Applicants are advised to prepare a strong business proposal that highlights creativity, impact, and sustainability.
