Itanna accelerator has launched the second edition of its accelerator and investment programme and will invest $30,000 into each startup after the programme.
Itana, an arm of Honeywell Group operates from the Enterprise Factory located in Iganmu, Lagos with workspaces, offices, meeting rooms and a conference space where startups will be accelerated from. Itanna’s first accelerator programme which began in 2018.
The four startups selected for Itanna’s second accelerator programme include Gerocare, Simbi Interactive, E-Estates and Carido.
Gerocare, a company that leverages technology and traditional African family values of adult children taking care of their parents to provide a structure for medical care for the elderly
Simbi Interactive, which uses interactive questioning and answering to help students learn, master and evaluate themselves in any subject.
E-Estates, a mobile/web solution that helps estate managers coordinate their affairs and interaction with residents effectively.
Carido, an on-demand automobile service technology platform that aggregates automobile maintenance demands through mobile devices and thereafter facilitates their fulfillment through select competent and credible service providers. These startups would receive investments to the tune of thirty thousand US dollars ($30,000) from Itanna.
These startups will also have the opportunity to pitch to Honeywell Group’s network of domestic and international investors at a Demo Day to be organised at the end of the programme.
Itanna’s maiden accelerator programme in 2018 accepted;
Accounteer, providers of online accounting services for SMEs, have expanded into other African markets including Ghana and Kenya.
Powercube, providers of affordable power supply using renewable energy, which have closed one investment round to fund their production and deployment activities.
TradeBuza, an online platform for managing and brokering commodities sourcing and outgrower scheme, has grown its user numbers by over 100% and has launched its commodities trade service to help link outgrower schemes to a network of offtakers.
KoloPay – a cashless target savings mobile and web application.
During launch, Itanna said it will support and invest in tech-enabled for-profit startups with an existing Minimum Viable Product. To be accepted, startups needed to demonstrate traction through customer growth or partnerships with customer acquisition enablers, have a clear vision as well as technical capability, sector knowledge and the desire to scale.
Technology and innovation
The launch of Itanna comes as part of Honeywell Group’s mission to connect technology and innovation by transferring knowledge in business-building and entrepreneurship, as the company looks to cement its position as a facilitator and impactor of growth in key sectors, including tech within Nigeria and across Africa.
Itanna will also be investing in more developed tech startups looking for growth capital. Through the direct investment scheme, the Itanna team will support investee companies to scale by leveraging on Honeywell Group’s network and industry expertise.
According to Tomi Otudeko, Head, Innovation and Sustainability for Honeywell Group and Director of Itanna, “Itanna was conceived to be a place where Africa’s top talent can bring their ideas, visions, expertise and resources to create a new wave of businesses that will ignite and stimulate economic growth across the the country and the continent.”
Vibrant tech ecosystem
Though Itanna knew it was joining an already busy and vibrant tech ecosystem, the team said the accelerator is well placed to build future of tech-enabled businesses whilst adding our stamp and sharing decades of business experience.