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ARM Labs Innovation Programme
Helping Startups Grow and Scale
Call for application opens: Friday, June 7th, 2024
Who Can Apply
We 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.
Eligibility Criteria
- Startups at the pre-seed stage are eligible to apply (must have received/raised less than 500k prior to applying for the program)
- Startups must have demonstrated market demand for the product or services provided. This must include a specified number of active customers, or a demonstrated growth rate.
- The founding team should be full-time, committed and willing to participate in the program.
- Evidence of market validation including user traction, customer feedback and initial revenue streams.
- Hybrid: Virtual or in-person communication, is a requirement depending on the session
- The startups must accept terms of investment prior to entering ALIP.
- You must be a legal registered entity in Nigeria.
The 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
Why You Should Apply
Strategic Investment
Startups that complete ALIP and meet all program requirements can receive up to $50,000 investment from ARM in exchange for 6% equity.
Mentorship
Engage with experienced mentors and industry experts throughout the program.
Tailored Curriculum
ALIP’s curriculum is designed to cover critical aspects of business development, including the POEM framework (Proposition, Organization, Economics & Milestones).
Market Access and Networking
Connect with a wide array of industry players, potential partners, and investors.
Investor Readiness
ALIP focuses on preparing startups for further funding rounds.
Visibility and Branding
ALIP provides a platform to showcase your startup to a wider audience.
What Happens At ARM Labs Innovation Programme
Over a period of 8 weeks, we 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. Our 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.
Funding Decision
We provide funding of $50k in exchange for at least 6% equity in the startup and this is done at most two (2) weeks into the innovation program. The investment is only a small part of what the program brings. The most important thing we do is help companies achieve their goals, give them leverage to scale up and help them answer questions to boost their progress
Integration
Where ARM sees synergy or areas of partnership with a startup, ARM leverages the startup’s products. This usually helps the startup to jump start and boost their revenue given our client base and brand name in the industry
Project Timeline
Call For Application
ARM Office Hours
Application Close
Candidate Screening (1 st Level Interviews- Top 100)
2nd Level Interviews (Top 50)
Due Diligence Information Session
Final Interviews (Top 20)
Offer Letter sent
Program Resumption
Program End
Demo Day
ARM Labs is designed to engage early-stage FinTech startups in a series of activities aimed at exponentially advancing the growth of their companies within a short time frame and ensuring their investment readiness.
Selected startups will be provided with financial investment, distribution, access to investors and lots more!
About ARM Labs
ARM Labs is more than just an innovation lab; it’s a dynamic force for positive change and sustainable impact. Our identity is rooted in ambition, proximity, impact, and truth, creating an environment where audacious dreams meet diverse perspectives. We believe in the power of innovation to bridge the gap between sustainability and progress.
For us, impact is not just a metric; it’s the heartbeat of our endeavors. At ARM Labs, we measure success by the positive change we create, making a lasting impact on both industries and communities. Join us on a transformative journey where every idea becomes a force for good, and together, we pioneer innovation that sustains and leaves a legacy of positive economic impact.
Key Areas Of Interest
We have particular interests in seeing ventures within the Fintech and Diaspora sub-sectors, as well as those offering consumers one-stop-shop solutions. Solutions helping the African diaspora access local services for themselves and their families are also of interest. Beyond Fintech, we are looking for Enterprise Software solutions that solve complex and costly problems.
Testimonials from past partcipants
The Labs by ARM Accelerator helped me Clarify the vision for our company and gave me the courage to share our solution with the world. I am immensely grateful to ARM and VP teams for expert advise and helpful support.
Olubodun Akinyele
CO-Founder & CEO - Think First Technology
The Labs by ARM Accelerator helped guide us on how to optimize our business structure. It also helped me refine my management style and take the bigger picture into account.
Oluwatomi Solanke
Co-Founder & CEO - Trove
The Labs by ARM was a launchpad for us at HouseAfrica, the session with mentors, industry leaders and experts redirected our thoughts and execution. The lessons and Networks are still valuable to our business to date.
Ndifreke Ikokpu
Co-Founder/COO, HouseAfrica
FAQs
The program runs for 6 weeks
We make an investment of $50,000 for at least 6% equity
During the program, each startup will have access to a dedicated office space, and one-on-one session with mentors, founders, alumni of the ARM Lab Innovation Programme and angel investors.
Our vertical focus is a function of the problem statement we seek to solve. For our cohort 5 (2023) our focus is on Digital Trade, Data Intelligence, PensionTech and FinTec.
Yes, you can. But you must be incorporated within 30days of commencement of the program.
At least one founder should be available for the session.
Unfortunately, we work with startups that have an MVP. We will be happy to have you participate in the program once you have built your MVP.
ARM Lab Innovation Program is a 6-7weeks specialized pre-accelerator innovation program designed 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.
ARM Lab Lagos Techstars Accelerator Program is a 14week accelerator program that provides African startups with a combination of mentorship, education, resources, and funding to help them accelerate their business growth and increase their chances of success. The program invests in early-stage companies with an already defined MVP/Post and offers a structured curriculum or set of milestones that startups must meet throughout the program to prepare them for further funding rounds or market entry.
FAQs
ALIP is a pre-accelerator program designed to support early-stage startups and aspiring tech founders. It provides guidance, resources and mentorship to refine business ideas, develop products or services and prepare participants for further acceleration and investment readiness.
Startups interested in participating in the program can apply here (should be linked to the application form).
Our selection process is highly competitive, so be sure to highlight what makes your startup unique and why it would be a great fit for ALIP. After the application period ends, our team will review submissions, conduct interviews, and select the most promising startups to join our program.
Our program has historically placed a strong emphasis on FinTech; however, we’ve expanded our scope to welcome startups from a diverse range of business sectors. So, whether your business is in healthcare, e-commerce, AgriTech, or any other sector, you are welcome to apply for ALIP.
In this program, enrolled startups actively participate in a rich mix of hybrid workshops meticulously crafted to combine information with interaction.
Our program structure encompasses a wide array of sessions, including enlightening talks from subject matter experts delving into daily thematic subjects, engaging group panel discussions, and personalized one-on-one advisory sessions facilitated by seasoned mentors.
This comprehensive approach is strategically aligned with the POEM Framework, which covers essential strategic aspects- Vision, Proposition, Organization, Economics and Milestones. Our aim is to empower startups with the knowledge and insights required to navigate pivotal growth phases and secure funding effectively.
Participating in ALIP offers startups a unique blend of invaluable insights.
- Our program provides access to a wealth of knowledge and expertise where you’ll have the opportunity to learn from experienced mentors and industry experts who can guide you in refining your business strategies, enhancing your product offerings, and navigating the complexities of scaling your startup.
- Furthermore, our program is designed to prepare startups for investment readiness. We focus on key areas such as refining your vision, strengthening your value proposition, optimizing your organizational structure, honing your economic viability, and setting clear milestones for success- all guided by our POEM Framework. This means that by the end of the program, you’ll be well-prepared to pitch to potential investors with confidence, increasing your chances of securing the funding needed to propel your startup to the next level.
- Additionally, our initial investment of up to $50,000 in exchange for equity ensures that you have the financial support necessary to accelerate your growth.
Startups that successfully complete ALIP and meet all program requirements can receive up to $50,000 investment from ARM in exchange for 6% equity.
This investment is made after the completion of legal and commercial due diligence and the fulfillment of all program requirements.
Yes, you can.
Absolutely! We encourage startups raising their pre-seed and seed rounds to apply to our program. When you submit your application, please indicate that you are actively fundraising. If your application is accepted, we will begin the investment process.
The ALIP Program is a focused pre-accelerator initiative lasting 8-weeks. It caters to early-stage startups within Nigeria and aspiring entrepreneurs by helping them refine business concepts, develop their products or services, and prepare for full-fledged accelerators.
Think of it as a crucial steppingstone where startups acquire essential skills, knowledge, and resources, all aimed at boosting their growth and enhancing their odds of success.
In contrast, the ARM Lab Lagos Techstars Accelerator Program spans 14 weeks (about 3 months) and targets African startups. It provides a holistic blend of mentorship, education, resources and funding to propel these businesses forward. The program specifically seeks out early-stage companies that already have a well-defined MVP or are in a post-MVP stage.
Throughout the program, startups engage in a structured curriculum and must meet key milestones, all geared towards preparing them for subsequent funding rounds or market entry.
Absolutely! We’re open to ongoing collaborations with startups that show promise. If your startup is aligned with ARM’s mission and objectives, there may be opportunities for further collaboration.
Our Partner
TVC Labs is an entrepreneur support organization providing Strategic & Operational support to innovative early-stage African start-ups through a well-designed mentorship program that helps founders reach their full vision. TVC Labs is driven by the vision to find, fund and follow innovative African founders building start-ups that have commercial and social impact on the continent and beyond.
Join The Revolution
We believe technology has the power to make the world a better place and we invest our time and resources in entrepreneurs making an impact leveraging technology.