2022 ARM Labs Lagos Techstars Accelerator Program for Early-Stage Fintech and Proptech Companies based in Africa.
Deadline: August 24, 2022.
The ARM Labs Lagos Techstars Accelerator Program invests in early-stage fintech and proptech companies based in Africa.
Techstars accelerators have one goal: to help entrepreneurs succeed. During each three-month program, we surround companies with the best mentors and an unrivaled network of corporate partners, investors, and alumni. We provide funding and fundraising opportunities, workshops and curated resources, not to mention countless moments where you can learn from your peers. It’s a proven model that’s helped build thousands of successful companies, all over the world.
A. It doesn’t matter what kind of stage you’re at — as long as you’re ready to accelerate your company, and you have good answers for these key questions:
01. Why are you and your founders the best people in the world to solve this problem?
02. Is there a market for the problem you’re solving, and how well do you understand it?
03. Why is this the right time for this solution to solve this problem?
B. They have accelerated teams that came into our programs with zero revenue, and they’ve also accelerated teams that came in with millions of dollars in revenue. The common thread between all those companies is the stellar founders, who could prove that they were the best people for the job, and that there was a real market that they could capture.
C. Later in the process, they’ll want to get to know you and understand why you think your team has the unfair advantage over all the other companies out there. Techstars wants to see what you’ve accomplished in the past, how long the team has been together, and how well you work together.
- Month One: Grow Your Network: During month one, the 10 companies in each program typically meet around 100 mentors from the Techstars network, each of whom are super connected and experienced in their respective fields. After these initial meetings, fondly known as “Mentor Madness,” some programs match founders with three to five who will act as their lead mentors, and a pseudo Board of Advisors, throughout the program. When there’s a particularly good fit, mentors will often continue to work with the companies after the program ends.
- Month Two: Execute: Month two is time to take all those learnings from month one and put them into practice. Working with the managing director and program manager, founders go deeper with their lead mentors, gain traction, and hit milestones — whether that’s a prototype, building out the next phase of a product, getting a first customer, etc. During this month, founders focus on identifying their most important KPIs (Key Performance Indicators) and achieving them. If there’s a corporate partner for the program, this month may even be the time to prepare for a proof of concept.
- Month Three: Fundraising Strategy & Demo Day: In month three, founders go deep on telling their story. This is crucial to fundraising and Demo Day preparation. Founders work with their mentors, managing directors, and program managers to refine their pitch, develop and design their pitch deck for Demo Day, and prepare investor collateral.