Access up to $20,000 in funding at the Innovest Ignite Lagos accelerator

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February 1, 2024
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2 min read

In a bid to foster innovation and support early-stage startups in Nigeria, Innovest Afrika announces the launch of its inaugural accelerator program.

Designed in partnership with Techpoint Africa, the Innovest Ignite Lagos accelerator aims to empower Nigerian startup founders by providing them with the mentorship, global networks, and funding required to build impactful startups.

Founded by Femi Moito, Innovest Afrika, a Houston, Texas-based startup accelerator aims to accelerate 5,000 African-founded startups by 2030. For Techpoint Africa, this partnership demonstrates its long-standing commitment to amplifying stories of innovation on the African continent.

"I believe this is an exciting time for the African ecosystem globally. Many will say it is the burst period, but I think it is particularly interesting as the best shine brightest in these times. African founders have historically been underrepresented when it comes to VC funding.

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Nevertheless, there are many success stories of resilient founders building awesome companies, and this has brought attention to the African startup ecosystem. This accelerator is very targeted to reach the best founders and startups with a singular focus on giving them a bigger chance at long-term success and sustainability," Moito says.

The Innovest Ignite Lagos accelerator is a fully remote six-week program culminating in a demo day in Lagos. During the demo day, founders will pitch their startups to a curated audience of global investors and partners.

The accelerator program is open to early-stage startups from all sectors. Founders must be of African descent and reside in Nigeria. Startups from across Nigeria are strongly encouraged to apply.

At least ten startups will be selected in this cohort, with the top quartile going on to receive up to $20,000 in equity funding. Selected startups will get access to a rich learning curriculum that covers subjects vital for startup growth.

Sessions will be facilitated by seasoned professionals comprising industry experts and exited founders across the globe, ensuring that founders are equipped to build lasting businesses.

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After the program, founders will continue to receive support from Innovest Afrika, including investor introductions, business development, and hiring support.

The ideal founder for this program has deep expertise or knowledge of the sector they're building in, has seen demonstrable traction, and is building in a large or fast-growing market. The ideal startup is also building a solution that helps solve one of the United Nations's 17 sustainable development goals.

Interested startups are encouraged to submit their applications using this link.

For further inquiries or additional information, please contact:

Ayomide Adebule: [email protected]

Chimgozirim Nwokoma: [email protected]

Accidental writer, covering Africa's startup landscape and its heroes. Find me on Twitter @chigo_nwokoma.
Accidental writer, covering Africa's startup landscape and its heroes. Find me on Twitter @chigo_nwokoma.
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Accidental writer, covering Africa's startup landscape and its heroes. Find me on Twitter @chigo_nwokoma.

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