Launched in April 2021, ARM Labs Techstars Lagos Accelerator has accepted 12 African startups into the flagship batch of the three-month program focused on fintech and startups in Africa.
The inaugural group consists of 10 Nigerian and two Kenyan companies, with 50% female CEOs. “This is a decision we believe in the teams; their product, their market, their attraction,” Oyin Solebo, MD at ARM Labs Lagos Techstars, told Benjamindada.com via call.
According to her, Nigeria is arguably the most active and largest ecosystem, so naturally more startups are coming from the West African country. She added, “Of the applications we received, these 12 were the best. However, the following groups will be more diverse. My vision is for Techstars to be in multiple cities across Africa.”
“Lagos has built a successful startup ecosystem that deserves more global exposure, investment and resources, and we see extraordinary potential in the market.” – Nancy Wolf, Managing Director, Techstars
Each of the selected startups will receive up to $120,000, plus curated startup programming and access to Techstars’ vast network of over 7,000 mentors, over 20,000 investors, alumni, and corporate partners.
The pioneering batch that started in December 2022 has been shared with over 100 mentors and speakers including Tunde Kehinde; Co-founder and CEO, Lidya, Bode Abifarin; Operations Manager, Flutterwave, Fara Ashiro Jitoboh; Founder and CEO, Okra and Amandine Lobelle; Operations Manager, Paystack. The show day in Lagos will be on March 16, 2023.
Meet the inaugural batch from ARM Labs Lagos Techstars Accelerator
Ms. Solibo spoke about selecting sectors, particularly fintech and proptech startups, saying, “It’s an assessment of where the market potential is. Also, since it’s a partner program with ARM Labs, real estate and financial services are where a lot of their expertise and network are.” .
However, she indicated that the Lagos-based accelerator may diversify its investments into other sectors in the coming years. Designed to operate for three years, the Lagos-based Techstars Accelerator invests in 36 startups across three batches.
Here is the opening batch of ARM Labs Lagos Techstars Accelerator:
alphabloQ It is a real estate investment platform founded by Trevor Kimani and John Mboye. The startup’s mission is simple – to lower the barrier to entry for real estate investors by enabling investors to purchase a small portion of income-producing real estate.
peppa.iofounded it Banky Alao, Bridget Yadua-Soremekun and Emmanuel Obute are making it safer to buy on social platforms for Africans through the use of payment protection.
“Your admission to the Techstars accelerator was an unequivocal affirmation of peppa.io,” said Banki Alao, CEO of Peppa.io, a financial technology services company dedicated to protecting payments. “We’ve set the program on a sure path to accelerated growth and impact. Definitely the best thing to happen to us.”
cdcare It makes it easier for Africans to own gadgets, appliances, cars and more without interest, through smart installment plans. The company was founded by Toby Odkoya and Digi Farahon.
Founded by Ebby Gatamu and Kibe John, kladvi It provides microfinance lenders with credit profiling, digital loan management, and access to reliable and affordable financing.
“I am delighted to have been selected into the Techstars family because traditionally, as an African, female, fintech founder, the odds are often stacked against you,” said Ebby Gatamu, Cladfy Co-Founder. “Not only did this program teach us to focus on the problem and our customers, but it also led us to meet and interact with amazing people we otherwise would never have met.”
click you are building PayPal for Africa; Enabling users to link multiple bank accounts and pay directly from a single source, making payments up to 7 times faster. Ruth Olwede and Dipo Gbadebo are the founders of the company.
CableFounded by Emmanuel Opala, Agulana Josemaria, Adebisi Borokini, and Valentine Oviah, it enables Africans at home and abroad to buy partial shares of global real estate for as low as $10.
Kiza Supports smartphone financing by enabling people to purchase new and certified pre-owned smartphones on a flexible payment plan. Kiza Africa was founded by Aisha Al-Husseini.
Power Founded by Chikodi Ukaiwe and Seunfunmi Omotunde it provides employees with access to financial services and benefits beyond their monthly salary.
Side Brief Simplifies the process of starting and expanding a business across borders, with its comprehensive solution for registration, banking and regulatory compliance. The company was founded by Eunice Olubad, Abdulwahid Yusuf and Osman Sotund.
Town Talkwhich was founded by Fulik Idon, Vera Cruz, Dyson, and Tomio Irenyocho space!-A protection platform that gives businesses peace of mind when moving goods and people from point A to point B, by providing real-time location and behavior analytics, vehicle tracking and access to insurance providers.
Vitas It is a digital lender for healthcare providers, using machine learning, partnerships and embedded third-party SaaS solutions to provide loans for the purchase of medicines and medical equipment. Founded by Vitas Solaf Singh, Collins O’Shea and Eric Okimmadow.
Founded by Ifedolapo Lawal, Olusola Onajobi and Omotayo Iginla, Oyster It is the democratization of credit in Africa. The company provides lenders with the infrastructure to help them launch low-risk microfinance products, grow their investment portfolios and expand into new markets in less than 30 minutes.
Related articles: Analysis of Techstars investments in Africa since 2015
“The excitement of supporting an accelerator program is that you can ignite a spark in innovation and watch it transform into a blazing fire of impact and change. As ARM partners with Techstars to launch an accelerator program that provides funding, mentorship, and access,” Ina Alogwu, Group Director, Digital Transformation, ARMHoldCo, said in a statement shared with Benjamindada. com, for networks and resources, that our goal is to discover the next group of Unicorns out of Africa.