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Applications open for $120,000 funding from ARM Labs Techstars Accelerator

The program will invest up to $120,000 in early-stage startups based in Africa focused on FinTech, Mobility, E-commerce and TalentTech.

Applications open for $120,000 funding from ARM Labs Techstars Accelerator

Applications have opened for 2023 ARM Labs Lagos Techstars accelerator program. The program will invest up to $120,000 in early-stage startups based in Africa focused on FinTech, Mobility, E-commerce and TalentTech.

Techstars, the most active pre-seed investor in the world that provides access to capital, programming and connections to early-stage entrepreneurs, in partnership with ARM Labs, a Lagos-based innovation program, announces the call for applications for the 2023 edition of the ARM Labs Lagos Techstars Accelerator Program.

Following the success of the inaugural program in 2022, the ARM Labs Lagos Techstars Accelerator 2023 program will support startups based in Africa that are building innovative companies across FinTech, Mobility, E-commerce and TalentTech.

The three-month, in-person program is based in Lagos, Nigeria. The first month is dedicated to refining the startup’s value proposition through extensive hands-on training and exposure to over 100 Techstars mentors.

Month two features guest speakers including top ecosystem operators and founders, tailored workshops, and one-on-one support to help founders execute and accelerate their business. The third month is focused on preparing the startups for fundraising, and the building of investor relationships.

While speaking about her experience in the 2022 program, Folake Fajemirokun, Founder and CEO of Towntalk said, “The benefits provided by the program are priceless. It helped us structure the business, get obsessed and more focused on finding a solution to the problems we are solving for, and finesse our narrative for fundraising. All things I don't believe we would have achieved without the program.”

The ARM Labs Techstars Lagos program is Techstars’ only on-ground accelerator in Africa. Oyin Solebo, Techstars Managing Director of ARM Labs Lagos Techstars Accelerator said, “Techstars’ State of Innovation survey showed that entrepreneurs view accelerators as the biggest driver of innovation in Africa.

Together, Techstars and ARM bring the on-the-ground, local support that is essential in fostering African entrepreneurship that will contribute to the success of the continent’s tech ecosystem.”

The ARM Labs Lagos Techstars accelerator is supported by key ecosystem leaders in Africa including Ashim Egunjobi, Partner at Octerra Capital, Tunde Kehinde, Founding member of Jumia and Founder and CEO of Lidya, Olumide Soyombo, Partner at Voltron Capital, Alice Tomdio, Chief Financial Officer of YellowCard, Amandine Lobelle, Chief Operating Officer of Paystack, and Adedeji Olowe, Founder and CEO of Lendsqr.

Applications for the 2023 ARM Labs Lagos Techstars Accelerator program close August 9, 2023. Founders are encouraged to submit their applications early, as applications will be reviewed on a rolling basis.

The program will commence on November 13, 2023, and conclude with a Demo Day showcase on February 15, 2024. Here investors, community, government and business leaders will experience the transformational power entrepreneurs have on the African ecosystem.

Last year’s invite-only Demo Day had over 400+ attendees in person, and an additional 2,500+ people streamed the event live on YouTube and LinkedIn.

The ARM Labs Lagos Techstars program team will host recruiting events in Lagos, Nairobi, Accra and London in the coming weeks; the team will offer private one-on-one office hours to select founders in each city.

Techstars is the most active pre-seed investor in the world, having invested through its accelerators in more than 3,700 companies that have a combined market cap of $99 billion.

Founded in 2006, Techstars believes that entrepreneurs create a better future for everyone and great ideas can come from anywhere. Now we are on a mission to invest in an unprecedented number of startups per year, enabling more capital to flow to more entrepreneurs around the world.

We do this by operating accelerator programs and venture capital funds, as well as by connecting startups, investors, corporations, and cities to help build thriving startup communities.

Established in 1994, ARM is a leading investment management firm providing a wide range of wealth management services to a substantial and diversified client base, including corporations, foundations and charities, high net-worth individuals, and small savers.

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