In a move to nurture innovation and bolster early-stage startups in Nigeria, Innovest Afrika has unveiled its first accelerator program.
Crafted in collaboration with Techpoint Africa, the Innovest Ignite Lagos accelerator is set to empower Nigerian startup founders by offering them mentorship, access to a global network, and the necessary funding to create influential startups.
Femi Moito, the founder of Innovest Afrika, a startup accelerator based in Houston, Texas, has set a goal to expedite the growth of 5,000 African-founded startups by 2030. This collaboration with Techpoint Africa underscores its ongoing dedication to highlighting stories of innovation across the African continent.
“This is a thrilling era for the global African ecosystem. While some may view this as a period of saturation, I see it as uniquely fascinating — a time when the brightest talents emerge. African founders have consistently been overlooked in terms of VC funding,” stated Moito.
However, the landscape is filled with inspiring tales of resilient founders who have built remarkable companies, drawing significant attention to the African startup ecosystem. This accelerator is meticulously designed to identify and support the most promising founders and startups, with a concentrated effort on enhancing their prospects for long-term success and sustainability,” Moito explains.
The Innovest Ignite Lagos accelerator presents a comprehensive six-week, fully remote program, climaxing in a demo day held in Lagos. At this event, founders will showcase their startups to a select group of global investors and partners, pitching for potential investment and support.
This program welcomes early-stage startups from any sector, with a requirement that founders are of African descent and based in Nigeria. It aims to foster a diverse array of startup projects from across Nigeria, urging founders from every region to apply.
In this inaugural cohort, at least ten startups will be chosen, with the standout performers receiving up to $20,000 in equity funding. Beyond financial support, selected startups will benefit from an extensive educational curriculum designed to address key aspects of startup development and growth.
To deliver this curriculum, the program will draw on the expertise of seasoned professionals, including industry veterans and successful startup founders from around the world. This ensures that participating founders receive the knowledge and guidance needed to build sustainable and impactful businesses.
Following the completion of the program, founders will continue to benefit from Innovest Afrika’s ongoing support. This includes introductions to potential investors, assistance with business development strategies, and support in expanding their teams.
The program is particularly suited for founders who possess profound expertise or knowledge in their respective sectors, have demonstrated significant traction, and are targeting large or rapidly expanding markets. Additionally, startups that are focused on developing solutions addressing one or more of the United Nations’ 17 Sustainable Development Goals are seen as ideal candidates.
Startups interested in participating are invited to apply by submitting their applications through this link.
For any further questions or for more detailed information, please reach out to:
Ayomide Adebule at ayomide@innovestafrika.org
Chimgozirim Nwokoma at chimgozirim@techpoint.africa
