Techstars, a leading global investor in early-stage startups, hosted a vibrant Demo Day in Lagos, showcasing 12 category-defining innovators during its second pan-African accelerator program. The event, held in partnership with ARM Labs, a Lagos-based innovation program, unveiled the achievements and future ambitions of the latest Techstars cohort.
Startups presented to over 480 industry leaders, seasoned investors, and tech ecosystem figures, with an additional 2,500 viewers joining via online channels. Attendees engaged in lively discussions about the state of venture capital funding and the booming innovation landscape in Africa, featuring panel insights from prominent figures like Olumide Soyombo (Voltron Capital), Biola Alabi (Acasia Ventures), and Ovo Emorhokpor (Beta.Ventures).
The 12 selected companies, handpicked from a pool of over a thousand applicants, included: 24Seven, Beauty Hut, Eight Medical, GetEquity, JumpnPass, One Plan, PBR Life Sciences, PressOne Africa, Rana, Surge Africa, Swoove, and Veend.
“Africa’s remarkable innovation and talent are a force to be reckoned with”, said Oyin Solebo, Managing Director of ARM Labs Lagos Techstars Accelerator. “At Techstars, we are dedicated to empowering entrepreneurs, and this program, in collaboration with ARM, is making that vision a reality for a new generation of African innovators.”
Over the intensive 13-week program, the startups benefited from $120,000 in funding each, along with extensive training, mentorship, and access to the vast Techstars network.
Adetayo Bamiduro, Co-founder of Max.ng shared his experience as the first African startup in a Techstars program, highlighting the transformative impact it had on his company. U.S. Consulate Deputy Political and Economic Chief, Kenise Hill, underscored the United States’ strong commitment to bolstering trade with Africa, particularly within the burgeoning technology, healthcare, renewable energy, and food security sectors.
“We’re confident in the long-term trajectory of these promising startups, knowing that even in challenging markets, the most impactful innovations can flourish,” said Sadiq Mohammed, Deputy Group CEO of ARM Holding Company.
The program’s success signals a bright future for African entrepreneurship. With applications for the third cohort set to open in mid-May, startups can register their interest early [here].
