Google Africa is drumming up support for 440, the new startup accelarator founded by 88mph and L5Lab to inject between $20k-110k into startups in Nigeria for 10-25% equity.
In a blog post, Elija Kitaka, Google Africa program manager said, “We are very excited to be supporting 440 in creating new opportunities for Nigerian startups to build great products for the local market, Africa and the world. Applications for the 3-month accelerator program which begins on September 10th are now open.”
According to Kitaka, accelerator programs are essential to grow Africa’s nascent startup scene as they already have result-citing One Africa Media’s Jobberman and Cheki.ng. which received support from Nigeria’s L5Labs.
“This is why we have supported the launch of 440, a new accelerator program aimed at creating an early stage fund and accelerator for mobile web startups in Nigeria, ” he wrote. ” 440, an initiative of 88MPH and L5Lab, will provide a platform for Nigeria’s startup community to get access to early stage funding, mentoring, and other forms of support.”
Unveiled February this year, 440 aims to invest in startups targeting the African market and applications for its first batch are open till August 1. Successful startups will have access to over 30 mentors drawn from the business community, investors, serial entrepreneurs, among others. If you haven’t applied click here now.
88mph has invested in startups in Kenya, South Africa, Nigeria, India and from across the continent. 440 will invest in 10 Africa-focused web or mobile startups for a 3 months programme to help them refine their products, business models, and do sales. Applications close August 1st.
“We hope that our contributions to the entrepreneurship ecosystem are providing real economic opportunities for people, businesses and communities worldwide,” Kitaka concluded.
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