Ten startups join the Innovest Ignite accelerator for Nigerian founders 

March 13, 2024
2 min read
Selected startups for the Innovest Ignite Lagos Accelerator

Amid a tough macroeconomic environment for businesses, Nigerian startups continue to build tech-enabled solutions for the numerous problems in the country, retaining investor interest.

With a goal of supporting 5,000 Africa-founded startups over the next six years, the Innovest Ignite Lagos accelerator will provide support in the form of mentorship, funding, and a global network for early-stage startups in Nigeria.

Designed in partnership with Techpoint Africa, the accelerator will provide three startups with $20,000 in equity funding at the end of the accelerator while continuing after-program support for all startups.

Here are the ten startups in the batch:

Lucred provides users with up to ₦200,000 in credit that can be used at over 1,000 merchant locations. New users get approved in less than five minutes after providing information such as their BVN, phone number, and banking credentials.

Influsights helps businesses engage with influencers for their marketing campaigns. Launched in January 2024, it helps businesses streamline influencer marketing campaigns while providing valuable insights.

Mage provides financial services to creative businesses and offers spend management, payments, and credit to businesses. It also provides analytics tools, enabling businesses to make data-backed decisions.

Bunce is a payment automation and customer value management platform for businesses. Drawing on insights from business data, it enables its customers to identify potential revenue-generating opportunities and improve their services.

SmartPharm users can access any healthcare product they need using the SmartPharm app. It helps them save time that would have typically been spent commuting and enables them to locate pharmacies close to them.

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Pap is a gamified search engine that helps climate-friendly projects raise capital. Users accumulate points, which can be used to unlock rewards on platforms such as Uber Eats and Bolt.

Belarush is a food and grocery delivery app for Nigerian universities. Since March 2023, it has delivered more than 15,000 orders and processed over 33 million

Run is a last-mile delivery startup catering to businesses and individuals. In the three years since it was founded, it has completed more than 150,000 deliveries and served over 70,000 users.

OfficeAjo digitizes the ajo system that has been used by many Africans. Verified employees can contribute specific amounts to a pool and take turns withdrawing. Through this, it helps employees access interest-free financing.

Blueroomcare is a mental health startup providing access to low-cost therapy solutions to Nigerians. Users can access qualified therapists for as little as ₦5,000 weekly, while ₦18,000 gets them a monthly subscription. It also provides access to faith-based counselling for its users.

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

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