Why these 12 African startups were selected to make a mark in Techstars Lagos Accelerator program
The African tech sector keeps blooming with innovative solutions across sectors and twelve startups selected by Techstars Lagos Accelerator program in partnership with ARM Labs, are about to embark on a 14-week journey that promises to transform the mundane and make the extraordinary even more accessible.
But what makes these startups stand out? Are they using cutting-edge algorithms to teach cats how to code or developing an app that translates existential crises into memes? Let’s dive into the world of African innovation, where even long queues and the absence of solar power are no match for the relentless spirit of entrepreneurship. Let’s take a closer look at each innovator:
Filling the inventory gap for small businesses with an asset-light marketplace and one-hour doorstep delivery, 24Seven is tackling the logistical hurdles that hinder growth. Founded by Olufemi Idowu, the company’s focus on credit solutions further empowers struggling enterprises, setting them apart in the African retail sector
Imagine a neighbourhood kiosk restocking shelves within minutes and thriving instead of scrambling. That’s the 24Seven revolution.
2. Beauty Hut: Bridging the beauty-brand-to-consumer divide, Beauty Hut was founded by Subuola Oyeleye to leverage technology in streamlining distribution and marketing through its e-commerce platform and app. The company’s innovative approach caters to the growing African beauty market, prioritising both brands and consumers.
Beauty Hut is helping brands struggling to reach customers and vice versa, its tech-savvy solution empowers both sides, boosting brand visibility and making premium products accessible across Africa.
3. Eight Medical: Every second counts in an emergency. Bolstering emergency response, Eight Medical slashes waiting times from hours to minutes. This life-saving platform connects users with vital resources like hospitals, ambulances, and even financial assistance, prioritising efficiency and accessibility. Founded by Dr. Ibukun Tunde-Oni, this innovation promises a future where swift response becomes the norm, not the exception.
4. GetEquity: Jude Dike, Temitope Ekundayo, and Chigozirim Ugochukwu, the trio behind GetEquity, are breaking down financial barriers. Investing shouldn’t be a privilege for the few, hence, GetEquity is democratising investing through aggregation across asset classes. The company removes entry barriers and empowers the average African with access to diverse investment opportunities. Its SEC-accredited providers ensure trust and security, making financial inclusion a reality.
5. JumpnPass: Long queues and cumbersome cash transactions? Not anymore. Tunde Ademuyiwa and Qudus Quadry’s JumpnPass empowers shoppers with mobile self-checkout. Picture scanning barcodes, paying seamlessly, and skipping lines with your smartphone. The platform brings modernity to African retail, enhancing customer experience and boosting operational efficiency for retailers, with a win-win scenario.
6. One Plan: Championing financial security for the informal economy, One Plan facilitates affordable retirement plans, low-interest credit, and health/life insurance. This tailored approach caters to the specific needs of this vast and often overlooked workforce, promoting stability and security.
Harold Awuah-Darko champions financial stability for the often-forgotten informal workforce. Financial security shouldn’t be a luxury, it’s on this basis the company is clearing the way for a future where even informal workers can build a secure future.
7. PBR Life Sciences: Empowering data-driven decisions in healthcare, PBR Life Sciences provides pharmaceutical and medical device companies with high-quality market insights. The platform helps these businesses optimise pricing, volumes, and strategy, ultimately benefiting both industry players and consumers.
Ayodeji Alaran built PBR Life Sciences on the fact that data-driven decisions are essential in healthcare.
8. PressOne Africa: Unlocking the power of conversations, PressOne Africa analyses phone interactions for African businesses. The company’s “conversation intelligence” platform provides invaluable insights, improving customer satisfaction, sales conversion rates, and overall business operations.
Founded by Mayowa Okegbenle, Opeyemi Shokunbi, and Unoma Adeyemi, PressOne Africa is where businesses learn and improve with every call.
9. Rana: Access to clean and reliable energy shouldn’t be a privilege. Abraham Mohammed and Mubarak Popoola’s Rana democratises solar power with affordable long-term subscriptions, replacing expensive and polluting generators.
Picture small businesses and homes bathed in clean sunlight, thanks to Rana’s innovative model. It’s a win for both the environment and energy security. The company brings clean and reliable solar energy to the masses, tackling both energy access and environmental challenges, and making a sustainable impact in African communities.
10. Surge Africa: Borders shouldn’t be barriers to financial transactions. Founded by Kumar Shourav and Ebrahim Essop, Surge Africa eliminates exorbitant fees and facilitates instant cross-border transfers, empowering individuals and businesses alike. Imagine micro-entrepreneurs seamlessly trading across borders, boosting regional integration and economic growth. Surge Africa is making it a reality.
Connecting Africa through instant and affordable cross-border transfers, Surge Africa empowers individuals and businesses with an 80% fee reduction. This game-changer fosters financial inclusion and regional integration, unlocking economic opportunities across borders.
11. Swoove: Kwaku Tabiri, Kingsley Amponsah, Gloria Pascucci, Robert Quainoo, and Kevin Blankson are digitising and scaling logistics for emerging markets. Swoove provides dispatch automation, fleet management, and a wide delivery network, empowering logistics companies to optimize operations and reach a wider customer base. Picture deliveries streamlined from busy cities to remote villages – that’s Swoove’s vision.
12. Veend: Veend empowers individuals and businesses with verifiable income to access on-demand loans, addressing the immediate need for emergency funds or working capital. Imagine a marketplace where a struggling shopkeeper can secure a quick loan to restock supplies after a flood, or a single mother can access funds for her child’s school fees. Veend bridges the gap between income and needs, promoting financial resilience and empowering users to take control of their finances.
Beyond individual brilliance, these twelve startups will catapult their growth through the 14-week program. Techstars’ $120,000 investment per company, over $400,000 in support, and access to a $5 million+ network provide essential resources for rapid scaling.
Tailored mentorship, company-building guidance, and global network access open doors to funding, expertise, and collaboration. ARM Labs’ local network, research, and financial advisory expertise further enrich the journey, providing invaluable context and support for navigating the African market.
With this potent combination of innovative startups and a world-class accelerator program, a unique impact is set across diverse sectors, with anticipation of a solid innovation that proves Africa’s fertile ground for epic ideas and solutions inspiring and benefiting the entire globe.