Nigerian accelerator and investment firm Ventures Platform is expanding to Lagos and doubling the amount it invests in startups to US$40,000.
Ventures Platform launched in 2016 as a full-service innovation hub in Abuja, running 16-week hybrid incubation programmes, a residence for need-based cohorts, and a paid co-working space for freelance entrepreneurs and professionals.
Ventures Platform is now expanding to Lagos in order to be closer to most of the entrepreneurs it supports, and also launching an incubation programme in Abuja designed to support the group of early-stage founders.
In 2018, it is also increasing its investment in startups that are accepted into the accelerator from US$20,000 to US$40,000.
“This means that Ventures Platform is looking for companies that are really post - MVP and are ready to take on this amount of investment,” the company said.