Application opens Monday, May 15, 2023.
We focus on early-stage companies that are post-MVP and operating within the FinTech, Digital Trade, Data Intelligence and PensionTech space in Nigeria;
These startups should have a well-rounded, complementary team for product vision (what to build), technology (how to build it), and business (how to make money from it) and should be solving an important problem for a highly engaged set of customers.
Applications will be reviewed on a rolling basis. At the end of the application process, the selection will happen in 3 stages
STAGE 1: Screen applications and shortlist the Top 30 most innovative value propositions
STAGE 2: Review the Top 30 startups and shortlist Top 15 startups using Product Validation and High-level Due Diligence Check
STAGE 3: The last stage of the screening process entails conducting individual interviews with the top 15 startups in a rotational manner. Each startup is evaluated independently using an e-scoring tool. The program will select the top 5 startups with the highest scores for admission
Direct equity funding for the selected startups worth $50,000 each in equity
Accepted startups enjoy hands-on mentorship from leaders in the FinTech sector.
Provision of Office workspace for the selected startups (workspace can sit up to 5 people per startup)
Startups will get introduced to a network of investors at the end of the program for possible follow-on investments.
Startups get to meet previous cohort founders and learn from their experience firsthand.
Over a period of 6 weeks, we work closely with every startup, with a primary focus on enhancing their product, market strategies, and team dynamics, to ensure they are prepared for success. Our program offers access to the ARM network, exclusive deals from partner organisations, and expert mentors from the fintech industry who offer practical guidance and key introductions.
We provide funding of $50k in exchange for at least 6% equity in the startup and this is done at most two (2) weeks into the innovation program. The investment is only a small part of what the program brings. The most important thing we do is help companies achieve their goals, give them leverage to scale up and help them answer questions to boost their progress
Where ARM sees synergy or areas of partnership with a startup, ARM leverages the startup’s products. This usually helps the startup to jump start and boost their revenue given our client base and brand name in the industry
ARM Labs is designed to engage early-stage FinTech startups in a series of activities aimed at exponentially advancing the growth of their companies within a short time frame and ensuring their investment readiness.
Selected startups will be provided with financial investment, distribution, access to investors and lots more!
We have particular interests in seeing ventures within the Fintech and Diaspora sub-sectors, as well as those offering consumers one-stop-shop solutions. Solutions helping the African diaspora access local services for themselves and their families are also of interest. Beyond Fintech, we are looking for Enterprise Software solutions that solve complex and costly problems.
The program runs for 6 weeks
We make an investment of $50,000 for at least 6% equity
During the program, each startup will have access to a dedicated office space, and one-on-one session with mentors, founders, alumni of the ARM Lab Innovation Programme and angel investors.
Our vertical focus is a function of the problem statement we seek to solve. For our cohort 5 (2023) our focus is on Digital Trade, Data Intelligence, PensionTech and FinTec.
Yes, you can. But you must be incorporated within 30days of commencement of the program.
At least one founder should be available for the session.
Unfortunately, we work with startups that have an MVP. We will be happy to have you participate in the program once you have built your MVP.
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We believe technology has the power to make the world a better place and we invest our time and resources in entrepreneurs making an impact leveraging technology.