The ARM Labs Innovation Program, a flagship initiative of ARM Group, that nurtures and empowers Nigerian startups, held a Demo Day to celebrate the success of its 5th cohort. The event was held at the ARM Group Head Office in Lagos, Nigeria, and featured presentations from five startups that had improved their products expanded their market reach and strengthened their team’s skills through the program.
The ARM Labs Innovation Program is a renowned support program designed to nurture and empower selected Nigerian startups. Its mission is to improve its products, expand its market reach, and strengthen its team’s skillset to enhance their chances of success.
This year, the Innovation Program expanded to accommodate FinTech, PenTech (Pension Tech), Data Intelligence, and Digital Trade startups. With a focus on empowering Nigeria’s future leaders, the program aimed to discover and support potential startups in these categories.
Speaking at the event, the Director of Digital Transformation at ARM, Ina Alogwu said
Entrepreneurs that have very interesting things have ARM Labs’ commitment to assist them.
We don’t just try to offer financial support; it goes beyond that. Think of a venture like a growing child. When the kid is younger, they need a lot of handholding and that is what we are trying to do. We are using our expertise to try and guide ventures while also seeking external mentors who come from several fields and backgrounds to help us achieve that objective as well.
Following a rigorous selection process, five ventures were chosen to participate in this year’s cohort. The program, executed in partnership with Techno Vision, an esteemed African entrepreneurship support organization, provided an enriching experience for selected founders. They worked closely with a diverse range of mentors and industry leaders to enhance their products, expand their market reach, and maximize their potential for success.
Cohort 5 Start-Ups Showcased:
Arich (FinTech): Arich is a digital bank that provides mobile banking, lending, investment, savings, and banking tools to small and medium enterprises while helping individuals build wealth through a decentralized investment model.
- GoNomad (FinTech): GoNomad enables entrepreneurs in emerging markets to incorporate their companies globally in countries such as the US, UK, and UAE within 5 business days.
- Periculum (Data Intelligence): Periculum is a data analytic Artificial Intelligence and Machine learning software company that empowers organizations in underserved markets, focused on bringing intelligence to the core of everything that matters most to customers.
- Wano (FinTech): Wano is a banking-as-a-service platform that helps African businesses provide financial services to customers using WhatsApp.
- Farmer First (AgricTech): Farmer First is an AgricTech company that deepens financial inclusion, providing micro-loans and access to the market for Farmers and Women Agro-Traders in Nigeria.
Sadiq Mohammed (Deputy CEO, ARM Group) highlighted ARM’s goal for supporting innovation in Africa and discussed the group’s innovation initiatives and partnerships.
He discussed ARM’s role in providing platforms to nurture and develop innovative ideas within the ecosystem through programs such as the Deji Alli ARM Young Talent Awards (DAAYTA), ARM Labs Innovation Program, and ARM Labs Lagos Techstars Accelerator Program.
In addition to the investment of up to $50,000 in each startup, the ARM Labs Innovation Program 5.0 provided comprehensive training, cutting-edge office workspaces, potential collaborations with ARM subsidiaries, and access to an extensive network of investors.
Over the last four cohorts, the program has invested over $400k and supported over 21 notable Nigerian startups, with some securing coveted spots in prestigious international accelerators such as Y Combinator and TechStars.
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