Call for Applications: Ilorin Startup Growth Program (N2 million to N5 million in funding)

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Ilorin Startup Growth Program (N2 million to N5 million in funding)

This program aims at boosting the local tech ecosystem in Kwara and to spur the growth of new tech startups in Kwara State with the support of the state government.

Ten startups will be selected for each cohort to learn how to scale their companies with intensive training and mentoring from tech entrepreneurs that have treaded the same path and succeeded. They will also have access to valuable resources (software, discounts etc) from our partners to help them grow faster.

The program is a hybrid between an incubator and accelerator program, to accommodate for the different levels of growth that exists with tech startups in Kwara. The areas of focus are Fintech, Agriculture, Education, Transportation, Government, Business process, E-Commerce & Logistics, Artificial Intelligence, Energy and Blockchain.

The goal is to prepare member startups to raise funding at the end of the program, which will be facilitated by a Demo Day to showcase the startups and their progress over the four month period to invited investors. This event will be physical and virtual.

Program Benefits:

Training: Training startup teams how to launch and scale their companies as well as how to raise funds and handle legal matters.

Mentoring: A team of mentors who are successful entrepreneurs, investors, startup and other experts in various fields of tech to guide our startup teams.

Resources:A pool of resources from partners in software, cloud hosting, advertising and discounts to help our founders scale their products faster.

Funding: Investment of some money in selected startups in exchange for minimal equity to cover startup team costs during the program. Selected startup teams will be given between N2 million to N5 million in funding in exchange for 10% equity in the company.

The Ilorin Startup Growth Program will run for four months. During this period the startup team is expected to be on ground in Ilorin full time. It will be an intensive program with daily engagement with mentors and advisers.

 

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