In its own effort to help Nigerian Start-ups grow, Honeywell Group, the leading Nigerian corporate has officially launched its new accelerator and investment hub called Itanna.
Itanna will roll out a four-month innovation program for tech-enabled Nigerian startups from its new enterprise factory in Lagos; with the leading start-ups receiving USD $25,000 each in investment from Honeywell Group.
The Accelerator is to be led by Tomi Otukedo
The accelerator will be led by Honeywell Group head of innovation and sustainability, Tomi Otukedo and will focus on Nigerian tech start-ups.
According to a statement by the tech accelerator, Otukedo said the accelerator will be located at the Enterprise Factory in Iganmu and will allow Honeywell Group to collaborate with the Nigerian tech ecosystem. “We will invest patient capital into the start-ups we work with and, we will also provide world-class mentorship to enrich the business strategy of each cohort,” he explained.
Four Start-ups to Participate in Itanna’s Four-month Innovation Programme
The tech hub unveiled four cohort start-ups to kicks off operation after receiving over 200 applicants. These start-ups include:
Accounteer – providers of online accounting services for SMEs across Africa; KoloPay – a cashless target savings mobile and web application; Tradebuza – an online platform for managing and brokering commodities sourcing and outgrower scheme, and PowerCube – providers of affordable power supply using renewable energy.
Each start-up will receive training and mentoring from leading industry experts, as well as the opportunity to pitch to Honeywell Group’s network of local and international investors at the company’s inaugural Demo Day.
Honeywell’s Mission with Itanna
The launch of Itanna is part of Honeywell Group’s mission to connect technology and innovation by transferring knowledge in business-building and entrepreneurship, as the company looks to cement its position as a facilitator of growth in the tech scene within Nigeria and across Africa.
Itanna will also be investing in more developed tech start-ups looking for growth capital. Through the direct investment scheme, the Itanna team will support these budding companies to scale by leveraging on the Honeywell Group’s network and industry expertise.
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