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ARM Labs Innovation Programme
Helping FinTechs Grow and Scale
Application opens Monday, May 15, 2023.
Who Can Apply
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.
The selection process
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
Why You Should Apply
Access To Funding
Direct equity funding for the selected startups worth $50,000 each in equity
Mentorship
Accepted startups enjoy hands-on mentorship from leaders in the FinTech sector.
Workspace
Provision of Office workspace for the selected startups (workspace can sit up to 5 people per startup)
Access To Investors
Startups will get introduced to a network of investors at the end of the program for possible follow-on investments.
Access To The Program’s Alumni Network
Startups get to meet previous cohort founders and learn from their experience firsthand.
What Happens At ARM Labs Innovation Programme
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.
Funding Decision
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
Integration
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
Project Timeline
Call For Application
Applications close
Selection of 5 startups
Due Diligence/ Investment Decision
Program kick off
Demo Day
About ARM Labs
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!
Key Areas Of Interest
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.
Testimonials from past partcipants
The Labs by ARM Accelerator helped me Clarify the vision for our company and gave me the courage to share our solution with the world. I am immensely grateful to ARM and VP teams for expert advise and helpful support.
Olubodun Akinyele
CO-Founder & CEO - Think First Technology
My favorite part of the program was the SCRUM. It gave us a sense of accountability and structure. This really drove us to try our best regardless of the odds. We have been able to leverage an extensive network, with access to investors that we would have struggled to reach. The accelerator gave us a platform to build and be heard.
Obinna Molokwu
Co-Founder & CEO, Kwaba
The Labs by ARM Accelerator helped guide us on how to optimize our business structure. It also helped me refine my management style and take the bigger picture into account.
Oluwatomi Solanke
Co-Founder & CEO - Trove
FAQs
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.
ARM Lab Innovation Program is a 6-7weeks specialized pre-accelerator innovation program designed to support early-stage Nigerian startups or aspiring entrepreneurs in refining their business ideas, developing their products or services, and preparing them for participation in a full-fledged accelerator. It serves as a stepping stone to help startups gain the necessary skills, knowledge, and resources to accelerate their growth and increase their chances of success.
ARM Lab Lagos Techstars Accelerator Program is a 14week accelerator program that provides African startups with a combination of mentorship, education, resources, and funding to help them accelerate their business growth and increase their chances of success. The program invests in early-stage companies with an already defined MVP/Post and offers a structured curriculum or set of milestones that startups must meet throughout the program to prepare them for further funding rounds or market entry.
Our Partner
TVC Labs is an entrepreneur support organization providing Strategic & Operational support to innovative early-stage African start-ups through a well-designed mentorship program that helps founders reach their full vision. TVC Labs is driven by the vision to find, fund and follow innovative African founders building start-ups that have commercial and social impact on the continent and beyond.
Join The Revolution
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.
