The 440.ng accelerator programme Demo Day in Lagos, Nigeria will take place tonight (December 10), with nine startups set to pitch to potential investors.
440.ng was founded in February as a joint venture between 88mph – which has already run accelerator programmes in Kenya and South Africa – and L5Lab, in order to invest in mobile and internet startups in Nigeria.
The inaugural programme began on September 22, with the startups undergoing a 12-week accelerator assisting with product development, revenue generation and customer acquisition.
The nine startups pitching tonight are online fashion retailer Jay Osbie, gadget marketplace Obiwezy, app for preparing for exams Pass.ng, digital fuel payments system Fuelvoucher, digital learning startup Youngsoul, online fashion label Ella, online fruit and vegetables platform Gingerbox, cloud-based retail platform Taja, and religious platform prayerbox.co.
“This programme startups are the strongest overall I have done in regards to how many of the companies that can turn into profitable business,” 440.ng co-founder Kresten Buch told Disrupt Africa.
“Seven out of the nine companies are making revenue, one above US$60,000 per month, so it will be interesting to see which ones the investors will be most excited about tonight.”
Disrupt Africa reported last month Jay Osbie, an online retailer for men currently taking part in the 440.ng accelerator programme in Lagos, Nigeria, had gone live.
Chief executive officer (CEO) Adejuwon Isola-Osobu told Disrupt Africa his team had learnt a lot from the 440.ng accelerator programme.
“It’s been a great experience working out the same space with other young entrepreneurs who share the same hopes, aspirations and sometimes frustrations,” he said.
“Also, working with seasoned investors like Chika (Nwobi, L5Lab founder) and Kresten has been tremendous in terms of the kind of mentors they’ve been able to attract and connections the startups have made through these mentors. It’s the stuff of dreams really.”