A total of 12 African startups have received $120,000 each in investment, along with training and mentorship, to advance their entrepreneurial endeavors.
These african startups, including 24Seven, Beauty Hut, Eight Medical, and GetEquity, among others, were selected from over 1000 applicants across Africa to participate in the second cohort of the Techstars Accelerator program.
The winners were unveiled at the Techstars Accelerator Demo Day held in Lagos, organized by Africa startup investor, Techstars, in collaboration with Lagos-based innovation program, ARM Labs.
According to Oyin Solebo, Managing Director of ARM Labs Lagos Techstars Accelerator, the three-month accelerator program provided the startups with comprehensive training and mentorship in various aspects such as go-to-market strategies, financial modeling, customer acquisition, and legal and governance.
In addition to the financial investment, the selected startups gained access to over 300 perks valued at over $4 million in savings and will have lifetime access to the Techstars worldwide network.
During the Demo Day, the startups had the opportunity to present their achievements and future plans to Techstars’ extensive network of investors, mentors, senior operators, and ecosystem leaders, with the aim of securing strategic partnerships and commercial collaborations.
African startups
Adetayo Bamiduro, Co-founder of Max.ng, shared insights on the impact Techstars has had on his startup since its selection in 2015, highlighting the learning opportunities, milestones, and growth potential in Africa.
Kenise Hill, US Consulate Deputy Political and Economic Chief, underscored the US’s commitment to trade with Africa, particularly in sectors such as technology, healthcare, renewable energy, and food security.
