Rédaction Africa Links 24 with Dennis Erezi
Published on 2024-02-21 23:33:47
Techstars, the renowned startup investor, recently hosted its second pan-African Demo Day in collaboration with ARM Labs in Lagos. The ARM Labs Lagos Techstars Accelerator Demo Day took place on 20th February at the Balmoral Convention Center, Federal Palace Hotel, Lagos. The event showcased the startups from Techstars’ second cohort across Africa, concluding a three-month accelerator program. The startups had the opportunity to present to a wide network of investors, mentors, ecosystem leaders, and senior operators as they shared their achievements and future plans, while seeking strategic partnerships and commercial collaborations.
During the event, there was a panel discussion featuring key figures in the African tech and Venture Capital ecosystems, including Olumide Soyombo, Biola Alabi, and Ovo Emorhokpor, who discussed the state of VC funding and innovation in Africa. The event attracted over 480 industry leaders and investors, such as Idris Bello, Tosin Faniro-Dada, Eloho Omame, Victor Sada, Bode Abifarin, and Olusegun Adeniyi. Additionally, 2,500 viewers joined online through Youtube and Linkedin.
The second cohort of the ARM Labs Lagos Techstars Accelerator consisted of 12 startups chosen from a pool of over a thousand applicants across Africa. The startups underwent a rigorous three-month program where they received $120,000 each in investment, as well as training and mentorship on various aspects of running a successful business. They also gained access to over 300 perks worth over $4 million in savings and lifetime access to the Techstars global network.
Oyin Solebo, Managing Director of ARM Labs Lagos Techstars Accelerator, expressed her commitment to empowering entrepreneurs and promoting innovation in Africa through the accelerator program. She highlighted the impact of technology, data, and intelligence in serving a growing population with increasing digital access.
The Demo Day also featured a keynote address by Adetayo Bamiduro, Co-founder of Max.ng, the first African startup selected by Techstars in 2015. Adetayo shared insights on his startup’s journey and the growth opportunities available in Africa. Deputy Political and Economic Chief of the U.S. Consulate, Kenise Hill, underscored the U.S.’s commitment to trade with Africa in areas such as technology, healthcare, renewable energy, and food security.
In his closing remarks, Sadiq Mohammed, Deputy Group CEO of ARM Holding Company, expressed satisfaction with the success of the program and the impact of the selected startups. He emphasized the importance of restructuring value chains and markets for market-creating innovations to thrive.
Oluwadunni Fanibe, Program Manager at ARM Labs Lagos Techstars Accelerator, commended the founders for their enthusiasm, passion, and dedication throughout the program. She noted the growth in their capabilities and pitching skills, propelling them to the next stage of their entrepreneurial journey.
Overall, the Demo Day highlighted the innovation and potential in the African market. It sets the stage for follow-on investment and continued innovation in the coming months for the cohort. With plans for a third cohort intake later in the year, startups are encouraged to register their interest early.
In conclusion, the ARM Labs Lagos Techstars Accelerator Demo Day was a success, showcasing the entrepreneurial talent and innovation present in Africa. The event highlighted the impact of technology and mentorship in driving the success of startups and fostering a culture of innovation on the continent. Looking ahead, the future looks bright for the startup ecosystem in Africa, with opportunities for growth, collaboration, and investment on the horizon.
