Founded in 2006, Techstars provides access to capital,
one-on-one mentorship, and customised programming for early-stage
entrepreneurs, and has so far invested in more than 3,000 companies with a
combined market cap of more than US$172 billion.
Nigerian startups are already regularly selected for many of
its international programmes, and it has now launched a dedicated Nigerian
edition in partnership with ARM Labs, a Lagos-based innovation programme
focused on helping fintech startups. The ARM Labs Lagos Techstars Accelerator
Programme will focus on investing in early-stage fintech and prop-tech
companies based in Africa.
The ARM Labs Lagos Techstars Accelerator will receive
applications from May 9 until July 27th, with up to 12 startups selected on an
annual basis to participate in the programme and benefit from up to US$120,000
in funding, curated startup programming, and access to Techstars’ vast network
of more than 7,000 mentors, over 20,000 investors, alumni, and corporate
partners. The programme’s inaugural class will commence in November, and
culminate in a demo day in February 2023.
“Lagos has built a successful startup ecosystem that merits
more global exposure, investments and resources, and we see extraordinary
potential in the market,”” said Nancy Wolff, general manager at Techstars. “Techstars
has been investing in Nigerian and African startups for years, and through our
partnership with ARM Labs we look forward to bringing the value and reach of
the Techstars’ global network to the increasingly prominent Nigerian startup
ecosystem.”
“Over the years, ARM has been on a mission to support
African fintech startups that are solving key problems in innovative ways,”
said Jumoke Ogundare, CEO of ARM.
“Our partnership with Techstars is the logical next step in
propelling the African continent to become the future global capital of fintech
and transform how Africans access financial services.”
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