Techstars provides accelerator portfolio companies with access to financial, human, and intellectual capital to fuel the success of their business.
Techstars contributes $20,000, which is commonly used as a stipend to support living expenses during the program, and in return receives 6% equity of the company (on a fully diluted basis, issued as common stock) until the company raises a priced equity financing of US $250,000 or more (a “Qualified Financing”). However, if a company conducts a Network Launch using distributed ledger technology (i.e. a blockchain initial coin offering, token event, etc.), then Techstars will also receive 6% of the Token Reserve (i.e. the tokens “held back” for the founders and the company at Network Launch).
Additionally, upon acceptance to a Techstars mentorship-driven accelerator, every company is offered an optional $100,000 convertible note.
Eligibility Criteria
The ARM Labs Lagos Techstars Accelerator Program invests in early-stage fintech and proptech companies based in Africa.
This new program furthers Techstars’ mission to support entrepreneurs everywhere and give startups the advantages they need to succeed, regardless of their location or background. Startups are encouraged to learn more about the ARM Labs Lagos Techstars Accelerator and explore Techstars’ many global accelerator programs at techstars.com/accelerators. Corporations and investors interested in partnership opportunities with Techstars can learn more at techstars.com/corporations.
Offered Benefits
12 startups will be selected to receive funding, hands-on mentorship, and access to the Techstars worldwide network on an annual basis.
- Access to Techstars resources for life;
- Acceleration in a 90-day Techstars mentorship-driven accelerator program with personal mentorship and office space;
- Lifetime access to the Techstars worldwide network of entrepreneurs, including more than 10,000 mentors, 10,000 investors, 1,600 alumni companies, and over 200 staff members;
- Access to over $400k of cash equivalent hosting, accounting, and legal support—plus other credits and perks worth more than $5M;
- Demo Day exposure and other investor connections.
Historically, on average, Techstars companies go on to raise more than $2M of outside capital after the program.
