FCMB Invites Nigerian Agritech Startups to Apply for the FCMB-Wennovation Agritech Incubation Program 2019

The FCMB Agri-Tech Incubation Programme run by Wenovation Hub now has its applications open to Nigerian early-stage agric-tech startups.

The Wennovation Hub Programme is, in partnership with the banking firm, FCMB, targeting innovators across Nigeria who are developing tech-based solutions that can ensure food security in the country. The goal is to help them test and validate their ideas, and also gather their first set of customers. This will be achieved through a combination of financial support, guidance and training.

The applications for this year’s program should focus on four problem areas, namely Production, Input, Processing and Storage, and Marketing and Sales. The Hub is looking for MVP-stage startups with some form of market validation.

The goal of this year’s program is to reveal the root of the pre-defined problem statement to ten teams across Nigeria, by merging an in-depth problem definition strategy with an immersion process.

The program will also support these teams with a demonstrable Minimum Viable Product to build a sustainable business model by taking them through a design thinking workshop, and a 3 weeks incubation program subsequently.

Even more, the program is to support at least two of the top selected Agri-tech startups with seed investments and grants, and offer access to experienced mentors and a cohort structure that encourages peer learning and support. Of course, the attending Agri-tech startups will have several opportunities to connect with potential investors and customers.

In fact, the programme commences with a one-week immersion component where the startups will have the opportunity to interact with community members through Wennovation Hub immersion partners. Startups who complete the immersion programme and other required reporting commitments successfully will be invited to a two-week bootcamp in Lagos.

The program will come to an end in September with a pitching competition at the demo day where two Agri-tech startups win a total sum of N3million in grants. All the successful startups are to be taken into a six-month post-bootcamp aftercare programme.

Click here to apply.

Apply: Wells Fargo Accelerator Program for FinTech Startups 2018

About the Program:

Wells Fargo is granting investments opportunities for up to $1,000,000 to FinTech startups and promising minority stake in the invested company.

The Wells Fargo Startup Accelerator is a hands-on program designed to advance startups that create solutions for enterprise customers — inside and outside the financial industry. The annual boot camp is looking to work with firms that are interested in breaking into the Fortune 500 market or financial services vertical market, have an innovative product that is demonstrable, backed by an implementation, and possibly, have existing customer experience.

Eligibility:Entrepreneurs from around the globe who have innovative ideas can apply. Ideally, you should be a startup targeting large enterprises as your ultimate customers.

Number of Awardees:

6 investments in 5 companies.

Duration of Program:

 6 months.

Value of Program:

Up to $1,000,000 in investment along with support in the following areas.

Accelerator: The program has a vested interest in your company’s success. It is primarily to encourage innovation, so Wells Fargo will maintain only a minority equity stake in your company.

Resources: Our intensive program helps companies understand what it takes to become part of the corporate stack. After the program, companies may continue to work with us on proof of concepts across different business lines within Wells Fargo.

Application Process:

  • Interested startups should apply here.
  • The review process includes technical and executive reviews. First stage review results are typically emailed 5-10 days after an application period ends.
  • After a company is selected, one or more advisors are assigned to collaborate on developing the partnering strategy with Wells Fargo and if applicable, assist in the execution of proof of concept projects.
  • Startups will be provided with networking opportunities and connect them with industry leading experts, mentors, executives, and venture capitalists.

This Article was first posted here

Introducing FbStart Accelerator at NG_HUB

Fb Start Accelerator at NG_HUB
Fb Start Accelerator at NG_HUB

The accelerator is a research and mentorship driven 6-month program for innovative and visionary teams daring to create solutions with advanced technologies. The accelerator would provide these teams with the support they need to build and optimize value driven products and match them with resources from Facebook and ccHUB

The research and mentorship-driven program would focus on providing teams with technical & business support and funding needed to optimize their product for growth. It is designed for startup and student teams building solutions that utilize any of these technologies; Artificial Intelligence, Data Science, Internet of Things, Augmented Reality (AR) and Virtual Reality (VR).

The onsite component of the accelerator is tailored for startup teams who would be physically present at NG_HUB while student teams would have the flexibility of a virtual acceleration program, with the option to work out of partner hubs.

Startups that are accepted into the program will receive the following:

  1. Equity-free funding: Startup teams would get $20,000 in equity-free funding.
  2. Hands-on support: Product development, business strategy & structure, financial management and investment readiness.
  3. Access to technical experts and business mentors from the Facebook and CcHUB network
  4. An office space with high-speed internet, meeting rooms & more.
ELIGIBILITY CRITERIA:
To be eligible for the program, startups must meet the following criteria:
  1. Have a functional product leveraging one of these technologies; Artificial Intelligence, Internet of Things, Data Science, Augmented Reality or Virtual Reality
  2. Have gained some users/customers.
  3. Have a technical lead and founder (s) that are fully committed to the business.
  4. Have the potential to disrupt or greatly enhance their focus industries.

Virtual Accelerator: Student Teams
BENEFITS

Student teams that are accepted into the program will receive the following:

  1. Equity-free funding: BSc. students – $5,000. MSc. students – $10,000 PhD. students – $15,000
  2. Hands-on support: Product development, Business strategy & Structure, and Investment readiness.
  3. Access to technical experts and business mentors from the Facebook and CcHUB’s network
  4. Possible access to office space and high-speed internet at partner hubs.
  5. A flexible program designed with consideration to your academic obligations.

ELIGIBILITY CRITERIA:
To be eligible for the program, student teams must meet the following criteria:

  1. Be a BSc., MSc. or PhD student in a Nigerian higher institution as at July 2018.
  2. Have an idea, research or product that would leverage one of these technologies; Artificial Intelligence, Internet of Things, Data Science, Augmented Reality or Virtual Reality
  3. Have a technical lead and founder (s) that are fully committed to the business.                                                                                                                          Applications into the accelerator can only be submitted  between May 22nd and June 29th. Apply