Techstars, a global investment business that provides access to capital, one-on-one mentorship, and customized programming for early-stage entrepreneurs, in partnership with ARM Labs, a Lagos-based innovation program focused on helping fintech startups, announces the launch of the ARM Labs Lagos Techstars Accelerator Program. The new accelerator program will focus on investing in early stage fintech and proptech companies based in Africa. The choice of Lagos, Nigeria, for the location of this accelerator program is the result of the growing global relevance of Nigeria’s startup ecosystem. Global venture capital investment data shows Lagos is one of the fastest growing ecosystems worldwide and the number one African startup city as of 2021.
The ARM Labs Lagos Techstars Accelerator will receive applications this June through August. Up to 12 startups will be selected on an annual basis to participate in the program and benefit from up to $120k in funding, curated startup programming, and access to Techstars’ vast network of 7,000+ mentors, 20,000+ investors, alumni, and corporate partners. The program’s inaugural class will commence in December 2022 and culminate in a Demo Day in March 2023. 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. 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.