L:R: Group Director, Digital Transformation, ARM, Ina Alogwu; Deputy CEO, ARM Group, Sadiq Mohammed; Managing Director ARM Academy, Uche Azubuike, and Executive Director, ARM Investment Managers, Mounir Bouba, during the ARMLab 5 event at its office, Ikoyi, Lagos
L-R: Founder farmer 1st, Gyena Iliya; Founder, Gonomad, Uke Enun Jr; Co-Founder Arich, Awele Akeze; Founder, Wano, Charles Okala and Co-Founder, Wano, Emmanuel Adebayo, during the ARMLab 5 event at its office, Ikoyi, Lagos
The ARM Labs Innovation Program, a flagship initiative of
ARM Group, celebrated the successful Demo Day for its 5th cohort. The event took place at the ARM Group Head Office in Lagos, Nigeria, and featured presentations from five promising startups that have completed the intensive seven-week program.
The ARM Labs Innovation Program is a renowned support program designed to nurture and empower selected Nigerian startups. Its mission is to improve their products, expand their market reach, and strengthen their team’s skillset to enhance their chances of success.
This year, the Innovation Program expanded to accommodate FinTech, PenTech (Pension Tech), Data Intelligence, and Digital Trade startups. With a focus on empowering Nigeria’s
future leaders, the program aimed to discover and support potential startups in these
categories.
Speaking at the event, the Director of Digital Transformation at ARM, Ina Alogwu said “Entrepreneurs that have very interesting things have ARM Labs’ commitment to assist them. We don’t just try to offer financial support; it goes beyond that. Think of a venture like a growing child. When the kid is younger, they need a lot of handholding and that is what we are trying to do. We are using our expertise to try and guide ventures while also seeking external mentors who come from several fields and backgrounds to help us achieve that objective as well.”
Following a rigorous selection process, five ventures were chosen to participate in this year’s cohort. The program, executed in partnership with Techno Vision, an esteemed African entrepreneurship support organization, provided an enriching experience for selected founders. They worked closely with a diverse range of mentors and industry leaders to enhance their products, expand their market reach, and maximize their potential for success.
Cohort 5 Start-Ups Showcased:
1. Arich (FinTech): Arich is a digital bank that provides mobile banking, lending,
investment, savings, and banking tools to small and medium enterprises while helping individuals build wealth through a decentralized investment model.
2. GoNomad (FinTech): GoNomad enables entrepreneurs in emerging markets to incorporate their companies globally in countries such as the US, UK, and UAE within 5 business days.
3. Periculum (Data Intelligence): Periculum is a data analytic Artificial Intelligence and
Machine learning software company that empowers organizations in underserved
markets, focused on bringing intelligence to the core of everything that matters most to customers
4. Wano (FinTech): Wano is a banking-as-a-service platform that helps African
businesses provide financial services to customers using WhatsApp.
5. Farmer First (AgricTech): Farmer First is an AgricTech company that deepens financial
inclusion, providing micro-loans and access to the market for Farmers and Women
Agro-Traders in Nigeria.
Sadiq Mohammed (Deputy CEO, ARM Group) highlighted ARM’s goal for supporting innovation
in Africa and discussed the group’s innovation initiatives and partnerships. He discussed ARM’s role in providing platforms to nurture and develop innovative ideas within the ecosystem through programs such as the Deji Alli ARM Young Talent Awards (DAAYTA), ARM Labs Innovation Program, and ARM Labs Lagos Techstars Accelerator Program.
In addition to the investment of up to $50,000 in each startup, the ARM Labs Innovation Program
5.0 provided comprehensive training, cutting-edge office workspaces, potential collaborations with ARM subsidiaries, and access to an extensive network of investors. Over the last four cohorts, the program has invested over $400k and supported over 21 notable Nigerian startups, with some securing coveted spots in prestigious international accelerators such as Y
Combinator and TechStars.
About ARM:
Established in 1994, ARM is a leading investment management firm providing a wide range of
wealth management services to a substantial and diversified client base, including corporations, foundations and charities, high net-worth individuals, and small savers. For more information, visit ARM’s website.
About TVC Labs:
TVC Labs, a support organization for entrepreneurs, offers strategic and operational assistance
to early-stage African startups. Through a carefully crafted mentorship program, TVC Labs
empowers founders to realize their complete vision. Their goal is to discover, finance, and support African innovators who are creating startups with both commercial and social
influence within the continent and beyond.
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