That Nigeria is a growing tech hub is no strange thing these days. And it would seem that the acknowledgement of the country’s huge exploits is coming in, however, gradually as it may seem. Such is it that the UK Nigeria Tech Hub has now taken a cue from the recent past and in conjunction with Ventures Platform and Start-Up Bootcamp Africa has gone on to establish an innovation hub/accelerator program for young start-ups all over the country.
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iNovo is the name they have called their accelerator start-up program. The program, according to the Nigerian Investment Promotion Commission, is a direct reaction to the burden COVID-19 has put on the growth of tech start-ups that cannot access funding or even innovate away from the virtual space.
iNovo would open up opportunities to speed up growth to at least 110 young and growing start-ups across different sectors in tech. 10 start-ups will be selected from the prominent sectors such as ed-tech, health-tech, agri-tech that are directly consequential to addressing COVID-related problems.
The 10 start-ups will be under a fully digital and intensive growth program. Another 100 start-ups will be put through lifetime access to its digital accelerator squared program. These 100 businesses will be administered the complete modules for creating a successful start-up.
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The first 10 businesses will be hosted over three months and will receive “capacity building, lean startup training, mentorship, and funding to rapidly scale their products and business models”. The program will be observed and monitored by bodies such as Start-Up Boot Africa Bootcamp, Ventures Africa as well as renowned angel investors, advisors and industry luminaries who will work closely with founders to achieve the aims of iNOVO.
Start-ups will be exposed to VC’s, mentorship as well as a practical access to tools such as Sidebrief legal assistance, Amazon Web Services credits, and Msg91 credits.
The three months of the program will be the first and obviously a test of what this program will achieve in the long run.
Applications are open from the 24th to 26th of February 2021.
NIPC Gov NG
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