TheCable

Techstars, a global investment business, has called on startups to apply for its inaugural edition of the ARM Labs Lagos Techstars Accelerator Program.

The company made the call in a statement on Tuesday.

Accelerator programmes provide intensive and time-limited business support for cohorts of startups, aiming to get them ready for investment more quickly than traditional incubators.

Organised in partnership with ARM Labs, the three-month program, which aims to support entrepreneurs, will commence in Lagos by December.

The company said 12 startups will be selected at the end of the application process.

Following the launch of the program in April, Techstars said applications are now open for early-stage fintech and proptech startups based in Africa from June 6 to August 24, 2022.

Also, the inaugural in-person class would commence in December and conclude with a ‘Demo Day’ scheduled for March 16, 2023.

During the accelerator program, Techstars said selected startups will have access to its vast network of more than 7,000 mentors, over 20,000 investors, and over 10,000 founders, alumni, and corporate partners.

Other benefits, it said, include up to $120,000 in funding, curated startup programming, and one-on-one mentorship sessions with Techstars mentors.

“The first month of the program will be dedicated to assessing product-market-fit with extensive hands-on training with Techstars mentors to help founders refine their products into a solid proof-of-concept,” the statement reads. 

“After the execution stage in the second month, the final phase will largely be focused on helping startups refine their financial business models with additional strategies around fundraising.”