🍔Quick Bite: Techstars has announced the closure of its Lagos accelerator program after two years, as part of a global restructuring. While this ends its on-ground presence in Nigeria, Techstars will continue supporting African startups through other programs worldwide. The exit shifts the spotlight to other local accelerators to step in and build a more tailored support system for African founders.
🧠 The Breakdown
Last week, Techstars officially announced the closure of its Lagos accelerator program, the ARM Labs Lagos Techstars Accelerator, after two years.
Launched in December 2022, the program in partnership with ARM Labs supported early-stage startups in Nigeria and across Africa. Over two cohorts, Techstars invested roughly $2.4 million in 24 startups, providing each with up to $120,000 in funding, mentorship, and access to a global network.
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Last updated: November 4, 2024
