Lagos-based Itanna accelerator opens applications for 2019 programme

The Itanna accelerator, a Lagos-based initiative that invests in tech startups, has opened applications for its 2019 programme.

The accelerator, which was launched by Nigerian conglomerate Honeywell Group last August, plans to this year invest up to $30 000 in seed capital in each of the 10 startups selected for its programme.

Itanna director Tomi Otudeko (pictured above) told Ventureburn yesterday (20 March) in an email that the accelerator will this year accept applications from outside of Nigeria too. Applications close on 19 April.

Itanna will this year invest up to $30 000 in seed capital in each of the 10 startups selected for its 2019 programme

Startups selected for the accelerator’s four-month programme will gain access to hands-on advice and mentorship, and will be able to tap the Honeywell Group’s extensive network. In addition, participants will also be provided with shared office space at the Enterprise Factory in Lagos.

To be considered for the programme, startups must have a minimum viable product for a specific target customer base, and should be able to show traction in the form of user growth, adoption or partnerships. In addition, Itanna is looking for founding teams with technical capability, domain or sector knowledge and execution skills.

Itanna’s pilot cohort comprised of cloud accounting platform Accounteer, fintech KoloPay, AI-enabled commodities sourcing platform TradeBuza, and renewable energy startup PowerCube who each received $25 000 from Honeywell Group.

Read more: Honeywell Group launches Lagos-based Itanna accelerator and investment vehicle
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Featured image: Itanna director Tomi Otudeko (Itanna via Facebook)