Chocolate City opens applications for $1m creative fund

Chocolate City Group has launched the inaugural edition of its Founders Fund Africa Creative Economy Accelerator Programme, providing funding ranging from $20,000 to $50,000 to selected startups within Africa’s creative industries.

The initiative, according to a release from the firm, which targets founders in music, film and media, design, and creative technology, is designed to help early-stage businesses scale through mentorship, investor readiness training, strategic partnerships and access to capital.

The accelerator fund was part of the $1m Founders Fund Africa, unveiled during Chocolate City Group’s 20th anniversary celebration in October 2025.

The fund was launched by the Minister of Arts, Culture, Tourism and Creative Economy, Hannatu Musa Musawa, and is being implemented in partnership with Argentil Capital Management Limited and Co-Creation Hub.

The firm added that the 10 high-potential startups will be selected for an intensive programme aimed at strengthening their business models, improving investment readiness and connecting them with investors, industry experts and experienced entrepreneurs.

Speaking on the launch of applications, co-founder and Executive Chairman of Chocolate City Group, Audu Maikori, said the programme was created to address the support gap facing many African creative entrepreneurs.

He said, “Founders Fund Africa was created to unlock opportunities for the next generation of creative entrepreneurs. Across Africa, we’re seeing founders build innovative businesses that are redefining music, film, design and technology, yet many still struggle to access the support they need to scale.”

Maikori added that the organisation was seeking founders with bold ideas, strong execution capabilities and the ambition to build businesses capable of shaping Africa’s creative economy.

Also, co-founder and Executive Vice Chairman of Chocolate City Group, Paul Okeugo, said the initiative was inspired by the company’s experience of building one of Africa’s leading independent entertainment firms.

“It takes the right guidance, meaningful partnerships and people who believe in your vision. Founders Fund Africa is about giving creative founders access to that support so they can build businesses that endure,” he emphasised.

The Managing Partner of Argentil Capital Management Limited, Gbenga Hassan, described Africa’s creative economy as an increasingly attractive investment destination.

He noted that the programme would focus on startups with scalable business models, strong fundamentals and the capacity to create long-term economic value.

According to the firm, applications are open to startups operating within music, film and media, design and creative technology. Entries will be assessed based on innovation, market opportunity, execution capability, business sustainability and growth potential.

Applications close on August 28, 2026, while interested founders can submit entries through the Founders Fund Africa application portal.