At least, 12 African startups have received $120,000 each in investment and training together with mentorship to take their entrepreneurial journey to the next stage.
The startup, including 24Seven, Beauty Hut, Eight Medical, GetEquity, among others benefitted these at the Techstars Accelerator second cohort.
The winners were presented in Lagos as Africa startup investor, Techstars, in partnership with a Lagos-based innovation programme, ARM Labs held the Techstars Accelerator Demo Day. And the 12 were chosen from over 1000 applicants across Africa.
Managing Director of ARM Labs Lagos Techstars Accelerator, Oyin Solebo, in her welcome address said the second cohort featured presentations, which marked the end of an immersive three-month accelerator programme.
Solebo explained: Over the past 13 weeks, along with the $120,000 each in investment, the startups received comprehensive training and mentorship from leading industry experts in the form of workshops on go-to-markets strategies, financial modeling, customer acquisition, investment readiness, people and leadership, legal and governance, and product management.
Additionally the selected startups gained access to more than 300 perks, valued at over $4 million in savings, and will benefit from lifetime access to the Techstars worldwide network.
We are committed to empowering entrepreneurs through our accelerators, venture funds, and network of investors, corporates, and mentors across various cities, Solebo posited.
Meanwhile, the startups presented to Techstars’ vast network of investors, mentors, senior operators, and ecosystem leaders, unveiling achievements and future plans whilst vying for strategic partnerships and commercial collaboration.
Also speaking, Co-founder of Max.ng, Mr Adetayo Bamiduro, emphasised the impact Techstars has had on his startup since selection in 2015 while sharing insights on the startup’s learnings, milestones and the growth opportunity that Africa offers.
Similarly, US Consulate Deputy Political and Economic Chief, Kenise Hill highlighted US’s commitment to trade with Africa stating that their areas of focus include technology, healthcare, renewable energy and food security.
In his remarks, Deputy Group CEO of ARM Holding Company, Mr Sadiq Mohammed said: We are delighted to have partnered in this innovative program where our aim was to expand our horizons and improve our processes, introduce a new asset class to clients, and contribute to the ecosystem growth.
Also, Program Manager at ARM Labs Lagos Techstars Accelerator, Oluwadunni Fanibe, said: Throughout the programme, the cohort demonstrated genuine enthusiasm, passion and dedication, qualities highly valued by investors. They have mastered articulating and executing their business models, also honing their pitching skills along the way.
The programme has boosted their capabilities, propelling them into the next stage of their entrepreneurial journey and we wish them continued success, Fanibe added.
