Deadline: June 15, 2023
Applications are open for the ARM Labs Innovation Programme 2023. 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.
They 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 they do is help companies achieve their goals, give them leverage to scale up and help them answer questions to boost their progress.
Benefits
- 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 (workspace can sit up to 5 people per startup).
- 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
- Open to 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.
Application
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 Innovation Programme.
