Techstars, a global accelerator and investment business, has moved to Nigeria with the establishment of a Lagos-based programme in collaboration with ARM, providing chosen entrepreneurs with yearly access to finance, hands-on coaching, and access to a global network.
Techstars, which was founded in 2006, offers early stage entrepreneurs access to financing, one-on-one coaching, and customised programming. To date, it has invested in over 3,000 firms with a combined market worth of more than US $172 billion.
Nigerian entrepreneurs are already frequently picked for several of its worldwide programmes, and it has now created a special Nigerian edition in collaboration with ARM Labs, a Lagos-based innovation programme that assists fintech firms. The ARM Labs Lagos Techstars Accelerator Programme will invest in early-stage African fintech and proptech startups.
The ARM Labs Lagos Techstars Accelerator will accept applications from May 9th to July 27th, with up to 12 startups selected annually 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 over 7,000 mentors, over 20,000 investors, alumni, and corporate partners. The initial cohort of the programme will begin in November and will conclude 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.”
