BOULDER, Colo. — June 6, 2022 — Techstars, a global investment business that provides access to capital, one-on-one mentorship, and customized programming for early-stage entrepreneurs, in partnership with ARM Labs, a Lagos-based innovation program focused on helping fintech startups, calls for applications for the inaugural edition of the ARM Labs Lagos Techstars Accelerator Program.The accelerator 3-month intense program supporting entrepreneurs, will begin in Lagos state this December.
Following the announcement of the ARM Labs Lagos Techstars accelerator launch, applications are now open for early-stage fintech and proptech startups based in Africa from June 6 - August 24, 2022. At the end of the application process, 12 startups will be selected for the program. The inaugural in-person class will commence on December 5, 2022 and conclude with a Demo Day scheduled for March 16, 2023 where local investors, community, government and business leaders will experience the transformational power entrepreneurs have on the African fintech and proptech community.
During the accelerator program, selected startups will have access to Techstars’ vast network of 7,000+ mentors, 20,000+ investors, over 10,000 founders, alumni and corporate partners. Other benefits include up to $120k in funding, curated startup programming and one-on-one mentorship sessions with Techstars mentors.
The first month of the program will be dedicated to assessing product-market-fit with extensive hands-on training with Techstars mentors to help founders refine their products into a solid proof-of-concept. After the execution stage in the second month, the final phase will largely be focused on helping startups refine their financial business models with additional strategies around fundraising.
While this is Techstars’ first accelerator program in Lagos, the company has been active in the African tech space since 2011, hosting more than 400 Techstars Startup Weekends across 40 countries, and operating the Barclays Accelerator Powered by Techstars Cape Town in 2016 and 2017. Similarly, through its other early-stage entrepreneurial programs, it has invested in 14 Nigeria-based startups like Healthtracka, FarmCrowdy and Rent Small Small.
In total, Techstars accelerator has invested in approximately 3000 startups globally with an all-time graduate market cap of $73billion, a $1m average first raise post program, and a total of 19 unicorns produced so far.
The Techstars worldwide network helps entrepreneurs succeed. Founded in 2006, Techstars began with three simple ideas—entrepreneurs create a better future for everyone, collaboration drives innovation, and great ideas can come from anywhere. Now we are on a mission to enable every person on the planet to contribute to, and benefit from, the success of entrepreneurs. In addition to operating accelerator programs and venture capital funds, we do this by connecting startups, investors, corporations, and cities to help build thriving startup communities. Techstars has invested in more than 3,000 companies with a combined market cap of more than $140B.www.techstars.com
Established in 1994, ARM is a leading Nigerian diversified and integrated asset management group firm that offers wealth creation solutions and opportunities through a unique blend of traditional asset management and alternative investment services to retail, high net worth and institutional investors. ARM Labs is our fintech support programme designed to facilitate and encourage innovative growth in the financial services industry. ARM currently manages total assets of approximately N1.6 trillion (as of December 2021). www.arm.com.ng