It is no news that Africa is the latest hotbed for technology startups and tech entrepreneurs. We can attribute this to the explosive growth of the continent’s population, its “youthful” might, and most importantly, the rise of challenges that can be solved by the application of emerging technologies spearheaded by these startups.
Truly, the major reason for the existence of startups is to solve problems, and currently, Africa as a developing continent is fraught with a lot of challenges that need solutions, ranging from healthcare, financial services, education, energy, and the provision of basic amenities. Indeed, the startup ecosystem in Africa just got more interesting.
However, most startups in Africa are crippled with limitations of all kinds, top of which is funding. Many have failed and their cutting-edge innovative ideas driven into extinction because of lack of funding. Finance is a topmost priority if startups will make their mark in the market, and without funding, important concerns like hiring good hands, securing recognition, partnerships and visibility would remain unsolved. This will further hamper the focus of these organisations on their primary agenda- to solve problems with technology.
Introducing ARM Labs Lagos Techstars Accelerator Program
This is where the marriage between ARM and Techstars come in.
The ARM Lab Lagos Techstars Accelerator Program is focused on bridging the “funding” gap between fintech startups and proptech companies across Africa. Selected startups will get access to the capital needed to enhance the effectiveness of their respective businesses. Put simply, money will be placed in the hands of the right people to solve their basic business problems, so they can focus on the bigger fishes they have to fry – using technology to provide services that make life easier for others.
ARM Labs Lagos Techstars Accelerator Program will also provide the selected startups with access to mentorships, partnerships, and customised programming because success means going the entire nine yards. These startups need investors who are not just offering money, but expertise, wealth of experience, sense of direction and support, in every way possible.
Speaking about this partnership, Jumoke Ogundare- the CEO of ARM said “our partnership with Techstars is the logical next step in propelling the African continent to become the future global capital of fintech and transform how Africans access financial services.”