Techstars, a global accelerator, and investment firm has announced the creation of a Lagos-based program in collaboration with ARM, which will provide selected entrepreneurs with financing, hands-on mentorship, and access to a global network on an annual basis.
Techstars, which was founded in 2006, provides early-stage entrepreneurs with money, one-on-one coaching, and customized training.
It has invested in over 3,000 firms with a total market worth of more than US$172 billion.
The ARM Labs Lagos Techstars Accelerator will accept applications from May 9 to July 27th, with up to 12 startups selected each year to benefit from up to $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 first class of the program will begin in November and end in February 2023 with a demo day.
“Lagos has developed a robust startup ecosystem that deserves more global exposure, investments, and resources, and we see incredible potential in the market,” said Techstars general manager Nancy Wolff. “Techstars has been investing in Nigerian and African entrepreneurs for years, and we look forward to expanding the value and reach of the Techstars global network to the increasingly prominent Nigerian startup environment through our partnership with ARM Labs.”
Nigerian startups are already consistently picked for several of the company’s international programs, and it has now created a dedicated Nigerian version in collaboration with ARM Labs, a Lagos-based innovation program that helps fintech firms.
The ARM Labs Lagos Techstars Accelerator Program will invest in early-stage fintech and proptech startups in Africa.
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