Innovest Afrika has announced the successful completion of the inaugural Innovest Ignite Accelerator program in Lagos, which concluded with a dynamic Demo Day on May 2, 2024, at the Four Points by Sheraton Hotel.
This landmark event marked the culmination of rigorous training and mentorship for ten promising startups, with a special focus on nurturing the entrepreneurial spirit of Nigerian innovators.
The Demo Day was a high-energy showcase featuring ten graduating startups from the accelerator program, where they pitched their innovative solutions to a panel of esteemed judges.
Startups Bunce, Blueroomcare, and Run were each awarded an investment of
$10,000 by Innovest Afrika, recognizing their potential to influence the market significantly.
Additionally, the audience selected three startups for special grant awards: Run received
$1,000 for the Best Overall Pitch, Belarush was honored with the Most Innovative Idea, and Smartpharm took home the prize for the Most Socially Impactful Idea.
The event also featured a fireside chat with Ashley Immanuel of Semicolon and a panel discussion with industry luminaries such as Muyiwa Matuluko of Techpoint Africa, Olajumoke Oduwole of KJK Africa, and Austin Okpagu of Jumia Pay.
These sessions provided invaluable insights into the opportunities and challenges within the startup ecosystem, particularly in the context of digital transformation.
Femi Moito, founder and CEO of Innovest Afrika, emphasized the organization’s global reach and its commitment to accelerating African-founded startups.
“Innovest Afrika works with African startup founders wherever they are located globally. Our goal is to accelerate 5000 African-founded startups by 2030, and the Lagos accelerator is just the beginning,” said Moito.
He added, “Our founders have benefited from an intensive program of local and international expertise, gaining access to a vast network of investors and
mentors.”
Looking forward, Innovest Afrika plans to expand the Innovest Ignite Accelerator to other key cities across Africa and the United States, including Accra, Nairobi, Houston, Atlanta, and Detroit, aiming to replicate the success of the Lagos program and continue building the next generation of African unicorns.
For more information about Innovest Afrika and the Innovest Ignite Accelerator program, visit Innovest Afrika’s website.
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