The second iteration of the ARM Labs Lagos Techstars accelerator, which offers access to up to US$120,000 in equity capital and other forms of support, is now accepting applications.
The ARM Labs Lagos Techstars Accelerator will be run by Techstars, a global investment company that connects early-stage entrepreneurs with capital, one-on-one mentorship, and specialized programming, in collaboration with ARM Labs, a Lagos-based innovation program dedicated to assisting fintech startups.
The second program will support entrepreneurs located in Africa that are establishing new businesses spanning finance, mobility, e-commerce, and talent-tech after the success of the first program in 2022.
The in-person program’s first month is devoted to honing a startup’s value proposition through in-depth hands-on instruction and exposure to over 100 Techstars mentors, while month two includes guest speakers who are top ecosystem operators and founders, customized workshops, and one-on-one support to assist founders in executing and accelerating their business.
The third month, on the other hand, is dedicated to getting startups ready for fundraising and cultivating investor contacts. Startups receive equity funding of up to $120,000 USD and can then make a presentation to investors during demo day.
Entrepreneurs believe that accelerators are the biggest force behind innovation in Africa, according to Techstars’ State of Innovation report. According to Oyin Solebo, managing director of the ARM Labs Lagos Techstars Accelerator for Techstars, “together, Techstars and ARM deliver the on-the-ground, local assistance that is vital in nurturing African entrepreneurship that will contribute to the success of the continent’s innovation sector.
There is still time to apply for the program; they will be reviewed on a rolling basis through August 9. The program will begin on November 13 and end on February 15, 2024, with a demo day showcase.