Application Deadline: July 20th 2018
Venture Garden Group and GreenHouse Capital Open 2018 Application for the First FemaleFocused Tech Accelerator Program in Nigeria
GreenHouse Lab now accepting applications for 2018 Cohort Batch
2017 was a recordbreaking year for African startups. According to research from Disrupt Africa, $195.1 million in venture capital funding was invested in African startups compared to $129.1 million in 2016 – an increase of 51%. With $63.3 million in startup investments in 2017, Nigeria was the top investment destination in Africa followed by South Africa and Kenya. As Nigeria continues to emerge as a technology hub, one thing is clear – women are missing on the playing field.
Of the 25% of women in tech, only 21% are tech executives and of these, only 11% are African technology officers. Currently, more than half of global executives report a shortfall of tech workers which slows or prevents businesses from growing. As Nigeria moves full speed ahead towards a technology driven future, a capable and well-represented tech workforce will be critical to ensure continued economic growth across all sectors and industries. In addition to being under-represented in the tech space, women are also severely under-funded. In 2017, women led startups received just 2.2% of all available venture capital dollars although women lead startups have been found to produce over 30% higher return on equity.
The first of its kind in Nigeria, GreenHouse Lab is a three month accelerator focused solely on early stage, women lead technology startups in sub Saharan Africa, as well as African run startups domiciled in the US or UK with products that are scalable in African markets. The application portal for the 2018 cohort opens on July 2, 2018 at www.greenhouse.capital/greenhouselab and closes on July 20.
- GreenHouse Lab seeks companies with the right team to build a successful company and as such, will select startups that are extremely passionate about their chosen vertical and demonstrate the necessary commitment to build the company of their dreams.
- Each start-up must have at least one woman on their leadership team which should consist of at least two members and at least one technical member.
- Beyond this, eligible companies must be early stage, investment ready tech startups that have identified a critical need in Africa and are building an effective, sustainable and scalable solution.
- Each company must have developed, at a minimum, a beta product and be in the process of refining their go-to-market strategy, building out sales channels and generating revenue.
The three month accelerator begins in mid August and ends in mid November. Selected startups will be required to commit full time to the program.