Month: April 2022

ARM announces the winner of N12M in the Deji Alli ARM Young Talent Award (DAAYTA) 2022

ARM has announced the winner of the Deji Alli ARM Young Talent Award (DAAYTA) 2022 programme at the finalists’ pitch event which was held on the 8th of April, 2022.

Tunde Adeyemi of D-Olivette Enterprise emerged winner out of seven contestants to claim the N12million grant. His business idea – D-Olivette is a social enterprise that is accelerating the advent of sustainable domestic biogas biodigester for clean cooking, electrification, and sustainable agriculture. The enterprise is doing this through the provision of domestic biodigesters innovation exclusively designed to convert household, farm organic waste & biodegradable wastewater into fertilizer and biogas within ten (10) days.

DAAYTA 2022 focused on start-ups with a minimum viable product (MVP) and at least one customer. Four hundred and twenty-five (425) applications from start-up entrepreneurs were received and following a meticulous review process, the top 6 contestants were identified and chosen. These six made their pitches at the event in the hope of winning the N12 million grant.

The top 6 finalists were: Tunde Adeyemi of D-Olivette – a social enterprise accelerating the advent of sustainable domestic biogas biodigester for clean cooking, electrification, and sustainable agriculture through the provision of domestic biodigesters innovation exclusively designed to convert household, farm organic waste & biodegradable wastewater into fertilizer and biogas; Emmanuel Ezenwere of Arone Energy whose goal is to solve Nigeria’s long-term energy crisis with unreliable power supply and CO2 emissions from generators; Onyinye Oguego of myStash Technologies which helps Africans save and invest subconsciously through a save-as-you-spend/earn model; Oluwatomisin Kolawole of Vinsighte Limited whose solution is aimed at providing sight to those with blindness through a designed assistive reading solution called Visis; Oluseyi Lukman Fadaiya of Celloop Limited whose solution is a digital platform that recovers end of life battery cells and processes them for a second life usage; Boluwatife Omotayo of Gamp Technology Limited whose business idea aims to provide ease of affordable service delivery to device consumers through OEMs; Rasheed Aliu of Arleegreens Renewable Enterprise whose solution is the Green box – a cheaper solution that treats toilet human waste into odorless, and clean reusable water to be reused in these communities.

Speaking about the occasion, the Executive Director (ED) of ARM Pensions, Osahan Ogiemuda said, “I say a big congratulations to the winner Tunde Adeyemi of D-Olivette Enterprise and all runners up. We believe that they all have what it takes to make a sustainable impact in their communities. I also appreciate the entire team and partners who have supported this initiative to ensure that we achieve our goal of enabling young entrepreneurs with innovative ideas to change the narrative in their various communities.”

The team of judges who delivered the sound judgment was: Dr. Ndidi Nnoli-Edozien – an Angel investor who has dedicated a significant part of her life to building bridges between large businesses and entrepreneurs, helping thousands of people at the bottom of the economic pyramid (BOP) in Nigeria live better lives; Kola Aina, founding Partner at Ventures Platform, an avid angel investor and mentor to startup founders; Sadiq Mohammed, Deputy Group CEO of ARM Group; Folashade Olusanya, a Partner at Jackson Etti & Edu, Victor Asemota, the Africa Partner for Alta Global Ventures, a US-based venture capital company, and Ina Alogwu, Digital Transformation Director ARM Group.

About ARM

Established in 1994, ARM is a leading Nigerian diversified and integrated asset management group firm that offers wealth creation solutions and opportunities through a unique blend of traditional asset management and alternative investment services to retail, high net worth, and institutional investors. ARM currently manages total assets of approximately N1.6 trillion (as of December 2021) http://www.arm.com.ng/

About TechnoVision

TechnoVision is the brand name for TechnoVision Communications Limited a technology services company that advises clients on technology-led transformation and early-stage entrepreneurship in Africa. See http://tvcng.com/ for more details.

Techstars Launches ARM Labs Techstars Accelerator in Lagos

12 startups will be selected to receive funding, hands-on mentorship, and access to the Techstars worldwide network on an annual basis

Techstars, a global investment business that provides access to capital, one-on-one mentorship, and customized programming for early-stage entrepreneurs, in partnership with ARM Labs, a Lagos-based innovation program focused on helping fintech startups, announces the launch of the ARM Labs Lagos Techstars Accelerator Program. The new accelerator program will focus on investing in early-stage fintech and proptech companies based in Africa.

“Lagos has built a successful startup ecosystem that merits more global exposure, investments and resources, and we see extraordinary potential in the market,” said Nancy Wolff, general manager at Techstars. “Techstars has been investing in Nigerian and African startups for years, and through our partnership with ARM Labs we look forward to bringing the value and reach of the Techstars’ global network to the increasingly prominent Nigerian startup ecosystem.”

The choice of Lagos, Nigeria for the location of this accelerator program is the result of the growing global relevance of Nigeria’s startup ecosystem. Global venture capital investment data shows Lagos is one of the fastest growing ecosystems worldwide and the number one African startup city as of 2021.

“Over the years, ARM has been on a mission to support African fintech startups that are solving key problems in innovative ways,” said Jumoke Ogundare, CEO of ARM. “Our partnership with Techstars is the logical next step in propelling the African continent to become the future global capital of fintech and transform how Africans access financial services.”

The ARM Labs Lagos Techstars Accelerator will receive applications this June through August. Up to 12 startups will be selected on an annual basis to participate in the program and benefit from up to $120k in funding, curated startup programming, and access to Techstars’ vast network of 7,000+ mentors, 20,000+ investors, alumni, and corporate partners. The program’s inaugural class will commence in December 2022 and culminate in a Demo Day in March 2023.

Techstars has been active in the African tech space since 2011, hosting more than 400 Techstars Startup Weekends across 40 countries, and operating the Barclays Accelerator Powered by Techstars Cape Townin 2016 and 2017. Similarly, through its other programs, it has invested in 14 Nigeria-based startups like Healthtracka, FarmCrowdy and Rent Small Small. A notable Nigerian Techstars alumnus is Onyeka Akumah, two-time Techstars founder and current Co-Founder and CEO of Treepz (formerly Plentywaka).

In 2017 Akumah participated in Techstars Atlanta while building his first startup FarmCrowdy. Two years later, his new venture Treepz, Nigeria’s first bus-hailing app, was selected for Techstars Toronto. Following Akumah’s participation in Techstars Toronto, Treepz expanded to operate in Ghana and Uganda, grew from 900 to 7,500+ bookings per day, and nearly tripled in employee size. To date the company has completed over 1 million bookings and raised $3 million in funding.

This new program furthers Techstars’ mission to support entrepreneurs everywhere and give startups the advantages they need to succeed, regardless of their location or background. Startups are encouraged to learn more about the ARM Labs Lagos Techstars Accelerator and explore Techstars’ many global accelerator programs at techstars.com/accelerators. Corporations and investors interested in partnership opportunities with Techstars can learn more at techstars.com/corporations.

About ARM

Established in 1994, ARM is a leading Nigerian diversified and integrated asset management group firm that offers wealth creation solutions and opportunities through a unique blend of traditional asset management and alternative investment services to retail, high net worth and institutional investors. ARM Labs is our fintech support programme designed to facilitate and encourage innovative growth in the financial services industry. ARM currently manages total assets of approximately N1.6 trillion (as of December 2021) www.arm.com.ng

About Techstars

The Techstars worldwide network helps entrepreneurs succeed. Founded in 2006, Techstars began with three simple ideas—entrepreneurs create a better future for everyone, collaboration drives innovation, and great ideas can come from anywhere. Now we are on a mission to enable every person on the planet to contribute to, and benefit from, the success of entrepreneurs. In addition to operating accelerator programs and venture capital funds, we do this by connecting startups, investors, corporations, and cities to help build thriving startup communities. Techstars has invested in more than 3,000 companies with a combined market cap of more than $172B. www.techstars.com

ARM commences the ARM LABS INNOVATION PROGRAM

The ARM Group in partnership with Greentec Capital Partners announces the commencement of the ARM Labs Innovation program.

Formerly known as LABS by ARM Accelerator Program and recently changed to ARM Labs Innovation Program, the program is designed to support ARM’s mission to fund compelling Nigerian fintech startups in the incubation stage. These startups should be poised to solve key problems in innovative ways within the financial industry and introduce ideas that transform how users access and consume financial services.

Through this program, ARM will support the selected startups to commercialise and grow the distribution of products and services.

During this 7-week Innovation program, each FinTech startup will be engaged intensively in a series of activities including advisory and mentorship sessions amongst others, all aimed at exponentially advancing the growth of their companies within the short time frame.

The ARM Group will make an investment of $50,000 (fifty thousand dollars) for 6% equity to each of the 5 selected startups and provide them with office workspace as an additional benefit to assist with their business operations.