ARM Labs Lagos Techstars Accelerator 2022 for African Startups
The ARM Labs Lagos Techstars Accelerator Program invests in early-stage fintech and proptech companies based in Africa.
When is Application Deadline?
24th August 2022
Tell Me About ARM Labs Lagos Techstars Accelerator:
Techstars provides accelerator portfolio companies with access to financial, human, and intellectual capital to fuel the success of their business.
Techstars contributes $20,000, which is commonly used as a stipend to support living expenses during the program, and in return receives 6% equity of the company (on a fully diluted basis, issued as common stock) until the company raises a priced equity financing of US $250,000 or more (a “Qualified Financing”). However, if a company conducts a Network Launch using distributed ledger technology (i.e. a blockchain initial coin offering, token event, etc.), then Techstars will also receive 6% of the Token Reserve (i.e. the tokens “held back” for the founders and the company at Network Launch).
Additionally, upon acceptance to a Techstars mentorship-driven accelerator, every company is offered an optional $100,000 convertible note.
About Techstars
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 $172B. www.techstars.com
About ARM
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)
What Type of Scholarship is this?
Entrepreneurship
Who can apply for ARM Labs Lagos Techstars Accelerator?
The ARM Labs Lagos Techstars Accelerator Program invests in early-stage fintech and proptech companies based in Africa.
This new program furthers Techstars’ mission to support entrepreneurs everywhere and give startups the advantages they need to succeed, regardless of their location or background. Startups are encouraged to learn more about the ARM Labs Lagos Techstars Accelerator and explore Techstars’ many global accelerator programs at techstars.com/accelerators. Corporations and investors interested in partnership opportunities with Techstars can learn more at techstars.com/corporations.
Which Countries are Eligible?
Lagos, Nigeria
How Many Scholarships will be Given?
12
What is the Benefit of ARM Labs Lagos Techstars Accelerator?
12 startups will be selected to receive funding, hands-on mentorship, and access to the Techstars worldwide network on an annual basis.
- Access to Techstars resources for life;
- Acceleration in a 90-day Techstars mentorship-driven accelerator program with personal mentorship and office space;
- Lifetime access to the Techstars worldwide network of entrepreneurs, including more than 10,000 mentors, 10,000 investors, 1,600 alumni companies, and over 200 staff members;
- Access to over $400k of cash equivalent hosting, accounting, and legal support—plus other credits and perks worth more than $5M;
- Demo Day exposure and other investor connections.
Historically, on average, Techstars companies go on to raise more than $2M of outside capital after the program.
Please, visit the official website to apply.
You can also apply here, and check for more details here.
