Afrigather World startup accelerator Techstars, in partnership with Lagos-based innovation ARM Labs, has introduced its inaugural class of 12 startups for the brand new ARM Labs Lagos Techstars Accelerator Program.
The lagos-based programme which is targeted on constructing early-stage African fintech and proptech startups has chosen a cohort of 10 Nigerian and a pair of Kenyan startups, with 50% feminine CEOs.
Startups that utilized for this programme went by a number of interviews with members of the Techstars international group, and a closing interview with Techstars Managing Director, Oyin Solebo and a 15-member screening committee. Some members of this committee included Ashim Octerra Managing Companion, Octerra Capital; Olumide Soyombo, Companion at Voltron Capital; Charlene Chen, former COO of AZA Finance, amongst others.
“After a aggressive utility course of, we’ve chosen entrepreneurs who’ve the capability to be distinctive founders, startups which have the potential to be trade leaders, and a cohort that’s collectively able to bringing innovation and alter to Africa and the world,” mentioned Solebo.
The programme which started in December 2022 will see the 12 startups undergo a 13-week bootcamp programme the place they’ll be taught and mentored on the rudiments of constructing a startup. The periods are delivered in a hybrid method with the startups collaborating in bodily periods a minimum of thrice every week.
“We’ve curated content material and periods primarily based on what each founder wants and their particular market,” Solebo mentioned. “The startups will attend periods on understanding your buyer and your distinctive worth proposition, making a monetary mannequin, scaling, recruiting and retaining prime expertise.”
The programme which started in December has hosted audio system resembling Tunde Kehinde, Co-founder and CEO, Lidya (beforehand Co-founder & Managing Director, Jumia); Bode Abifarin, COO, Flutterwave; Amandine Lobelle, COO, Paystack and lots of others.
Along with this, the startups have entry to 95 trade specialists as mentors. Inside the first month of the programme, the startups had two weeks of velocity courting periods (psychological magic) with the 95 completely different mentors to pick who they needed to work with to assist speed up their enterprise.
The startups additionally obtain the Techstars standard deal of $120,000—$20,000 fairness upfront and an non-obligatory $100,000 convertible observe funding in change for six–9% fairness.
“As ARM companions with Techstars to launch an accelerator program that gives funding, mentorship, and entry to networks and sources, our aim is to unearth the subsequent set of Unicorns out of Africa,” mentioned Ina Alogwu, Group Director, Digital Transformation, ARMHoldCo.
This inaugural programme ends in March with a demo day occasion the place the startups are invited to pitch their product to traders and supply a demo.
Meet the 12 startups
alphabloQ
alphabloQ is an actual property funding platform based by Trevor Kimani and John Mbui. The startup’s mission is straightforward – to scale back the entry barrier for actual property traders by enabling traders to buy a fraction of income-generating properties.
Peppa.io
peppa.io, based by Banky Alao, Bridget Yadua-Soremekun and Emmanuel Obute, is making it safer to purchase on social platforms for Africans by using cost safety.
CDcare
CDcare is making it straightforward for Africans to personal devices, home equipment, vehicles and extra at zero curiosity, by good installment plans. The corporate was based by Tobi Odukoya and Deji Farohun.
Cladfy
Based by Ebby Gatamu and Kibe John, Cladfy offers microfinance lenders with credit score profiling, digitised mortgage administration, and entry to reasonably priced, dependable financing.
Flick
Flick is constructing PayPal for Africa; enabling customers to attach a number of financial institution accounts and pay immediately from one supply, making funds 7x sooner. Ruth Olojedeand Dipo Gbadebo are the founders of the corporate.
Keble
Keble, based by Emmanuel Oballa, Agulanna Josemaria, Adebisi Borokinni and Valentine Offiah, allows Africans at house and overseas to buy fractional shares of world actual property for as little as $10.
Keza Africa
Keza is powering smartphone financing by enabling folks to purchase brand-new and licensed pre-owned smartphones on a versatile cost plan. Keza Africa was based by Aisha Hussaini.
Salad
Salad was based by Chikodi Ukaiwe and Seunfunmi Omotunde and is offering staff with entry to monetary companies and advantages past their month-to-month paycheck.
Sidebrief
Sidebrief simplifies the method of beginning and scaling a enterprise throughout borders, with its one-stop resolution for registration, banking and regulatory compliance. The corporate was based by Eunice Olopade, Abdulwaheed Yusuf and Usman Sotunde,
Towntalk
Towntalk, based by Folake Edun, Disun Vera-Cruz and Tomiwa Erinosho, is constructing Space!–a safety platform giving corporations peace of thoughts when transferring items and other people from level A to B, by offering real-time location and behavioural analytics, automobile monitoring and entry to insurance coverage suppliers.
Vittas
Vittas is a digital lender for healthcare suppliers, utilizing machine studying, partnerships and embedded third celebration SaaS options to supply loans for the acquisition of medicines and medical tools.Vittas was based by Sulav Singh, Collins Uche and Eric Okemmadu.
Oystr Finance
Based by Ifedolapo Lawal, Olusola Onajobi and Omotayo Iginla, Oystr is democratizing credit score in Africa. The corporate offers lenders with an infrastructure to assist them launch low-risk micro-loan merchandise, develop their portfolios and broaden into new markets in lower than half-hour.
