Deadline: 15-Jun-23
The Asset & Resource Management Holding Company Limited has launched the ARM Labs Innovation Program 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.
Over a period of 6 weeks, they 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. The 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.
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.
- 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.
Eligibility Criteria
- They 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.
- At least one founder should be available for the session.
- They work with startups that have an MVP. They will be happy to have you participate in the program once you have built your MVP.
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.
For more information, visit ARM Labs.