The tech industry is important in every modern society as it helps to provide digital solutions to modern problems. In Nigeria, it contributes to our Gross Domestic Product (GDP) index and is very crucial to education, agriculture, import and exports, foreign exchange, governance and other important sectors.
Hence, many investors encourage the young population who venture into tech. Here is a list of investors that support tech startups in Nigeria:
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Ingressive 4 Good - This is a non-profit organization that provides access to tech skills for Nigerians. Recently, they launched a scholarship program tagged “ Ingressive for Good 2022 1000 Women in Software Development Scholarship”, this program is aimed at equipping 1000 young women with tech skills such as frontend development, backend development and data science. They also offer personal computers to some of their scholars to help them with their careers in software engineering.
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Ventures platform - A venture platform is an investment company that searches for promising startups in the tech industry and supports their growth by investing in them. Start-ups are required to have an online presence, and state the problem they intend to solve and how much they have accomplished, they would also need to state their product roadmap and future projections. You can apply for the Ventures platform seed funds here . https://docs.google.com/forms/d/e/1FAIpQLScy-BOzTVQzB7tOFHSwoKXAKIj2Z_hU7IeAH6pUtW3aLur_xw/viewform
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Echo VC - Echo VC is a venture capital company that invests funds in companies existing in the tech industry with sub - Saharan Africa being the focus geographic region. Their investment funds range from $50,000 to $20 million. They do not invest in firms that are still at the idea stage, they only fund companies that are already in operation. Eligible companies must have a well-informed team and a good financial report. Click here to apply. https://www.echovc.com/submit-a-proposal
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Afrilabs - Afrilabs is a supporting network of different tech firms in Africa. In the previous year, Afrilabs collaborated with African Business Angels Network to establish a project named “Catalytic Africa”. This project seeks to match promising startups with investors. The maximum finance for individual firms is €60,000.
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The Co-Creation Hub - The Co-Creation hub is a firm that connects different digital institutions to create digital solutions to Nigeria’s problems. They equally provide investment funds to startups in the digital space. They host three programs, which are pre-incubation, incubation and acceleration programs. Their pre-incubation program is a 6-month training session that seeks to prepare entrepreneurs to launch their digital solutions, the training comes with a $5,000 grant and technical support. The incubation program is a 12-month training session for already existing businesses with a record of profitability, this training seeks to help them scale up their business and increase their revenue. After the training session, businesses can access a minimum grant of $25,000 and a maximum of $250,000 along with free office space for the team. The acceleration program is a 12-week training course designed to assist startups to improve their products to meet the needs of their target audience. Upon completion of the course, financial aid and technical support are provided based on the needs of the startup.
If for some reason you are unable to get funding from any of the investors mentioned above, consider these other fundraising options.
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