Month: May 2024

Lagos, Nigeria – May 15, 2023

ARM’s Deji Alli ARM Young Talent Award (DAAYTA) program has successfully concluded its sixth edition with a virtual pitch event held on April 19th, 2024. The program was established in honor of ARM’s founding CEO, Deji Alli, to support young entrepreneurs with innovative and sustainable ideas capable of impacting society positively.

After a thorough review of over 750 applications from start-up entrepreneurs across Nigeria, seven outstanding companies were selected to pitch their ideas. The selected startups were Ecobarter Company, Goods and Services 360 Limited, Smokeless Briquettes Limited, 10MG Pharma, OJ Technologies Ltd, Zedit Technologies Limited, and Sanwo Technologies Limited.

The finalists delivered captivating pitches, demonstrating their ingenuity and the potential of their technologies to disrupt various industries. A panel of judges, comprising industry experts, entrepreneurs, venture capitalists, tech enthusiasts, and seasoned professionals, evaluated the pitches and selected the winner.

The winner of DAAYTA 2024, Ecobarter Company by Rita Idehai, received funding of ₦12,000,000 (twelve million naira) spanning over a period of one (1) year. This grant will support the company in developing their business plan, completing an entrepreneurial education at the Pan Atlantic University’s Enterprise Development Centre (EDC) in Lagos, Nigeria, and receiving five-month acceleration support for the development of their venture through a reputable entrepreneurial hub in Lagos, Nigeria.

ARM Labs, the driving force behind groundbreaking innovations and sustainable impacts, proudly announces a historic moment for the Kenyan Web 3 industry. alphabloQ, an ARM Labs Lagos Techstars accelerator-backed startup specializing in tokenized real estate investments, has secured acceptance into the regulatory sandbox of the Capital Markets Authority (CMA) of Kenya. This milestone not only solidifies alphabloQ’s position as the pioneer in blockchain-based investments in Kenya but also marks a significant advancement for the entire Kenyan Web 3 ecosystem.

Launched in 2023 by visionaries Trevor Kimani and John Mbui, alphabloQ has dedicated the past year to constructing a robust infrastructure, forging strategic partnerships, and actively collaborating with regulatory bodies. The culmination of these efforts is the recent approval to operate within the CMA sandbox – a controlled environment tailored for fostering innovation and growth within the financial sector.

Trevor Kimani, Co-founder, and CEO of alphabloQ, expressed his pride, stating, “It’s an honor to be the first blockchain startup accepted into Kenya’s Capital Markets Authority sandbox. This acknowledgment underscores our commitment to pioneering transformative solutions in the real estate investment landscape while adhering to the highest regulatory standards. We believe this milestone not only validates our hard work but also opens exciting possibilities for both our company and the Kenyan Real Estate and Capital Markets ecosystem. alphabloQ is open for business.”

John Mbui, Co-founder, and CTO of alphabloQ, highlighted the crucial aspect of collaboration with regulatory bodies, noting, “Engaging with regulators has been a core focus for us since day one. This acceptance into the CMA sandbox not only allows us to refine our innovative solutions but also contributes to the broader conversation on seamlessly integrating blockchain into traditional financial infrastructure.”

alphabloQ, strives to address the challenges faced by many Africans in accessing real estate investments. The traditional options of saving for years or acquiring expensive mortgages often hinder profitable investment in one of the best asset classes available. However, alphabloQ seeks to democratize access by digitizing real estate assets and breaking their value into fractions called tokens. Through blockchain technology, individuals can now buy portions of a property, earning income through capital gains and monthly cash flows without having to acquire the entire property.

The acceptance of alphabloQ into the regulatory sandbox provides a controlled environment to further demonstrate the reliability, security, and compliance of its platform while upholding consumer protection. The company aims to leverage this opportunity to refine its operations, perfect its value proposition, and contribute to the evolution of regulatory frameworks in the rapidly evolving Web 3 landscape.

This groundbreaking development not only propels alphabloQ but also signals Kenya’s active participation in the global web3 and blockchain space. Kenya now stands alongside other African countries, such as Nigeria and South Africa, in taking substantial steps to explore and support blockchain innovation.

As alphabloQ, embarks on this pivotal phase, ARM Labs expresses immense pride and joy in the achievement of this significant milestone. We extend our heartfelt congratulations to the entire alphabloQ team for their dedication and groundbreaking work in the Kenyan Web 3 landscape.

This achievement reaffirms ARM Labs’ commitment to fostering innovation and positive economic impact in Africa. We are honored to stand by alphabloQ as they continue to democratize real estate investments and promote financial inclusion in the Kenyan market and beyond. ARM Labs takes pride in being a dynamic force for positive change and sustainable impact, and this success further motivates our dedication to supporting African startups.

As we celebrate alphabloQ’s success, we look forward to the upcoming launch of the ARM Labs Cohort 6.0. This presents a new opportunity for aspiring startups to join us on a transformative journey, where audacious dreams meet diverse perspectives. ARM Labs remains eager to contribute to the growth of innovative ideas and to leave a lasting legacy of positive economic impact on industries and communities across Africa. We invite all interested startups to stay tuned for the launch of Cohort 6.0 and be part of the dynamic force driving innovation in the African tech ecosystem.