In a room filled with ambition and innovation, HubPharm emerged as the winner of First City Monument Bank (FCMB)’s HERccelerate at the program’s Showcase Day on November 30 held at Hub One, FCMB’s Innovation Hub in Yaba, Lagos.
This tech accelerator, powered by FCMB’s SheVentures and Hub One and delivered by 8thGear Hub & Venture Studios, is designed to empower women-led startups in Nigeria with the skills and resources needed to secure funding and scale.
Reflecting on the HERccelerate initiative, Nnenna Jacob-Ogogo, Group Head of SheVentures, described it as “a testament to what we can achieve when we invest in women. While this is the first pilot of its kind, it is clear that women in tech have the talent, resilience, and vision to drive innovation.”
She also highlighted SheVentures’ broader impact, noting that over the past five years, they have “scaled businesses through four key pillars: access to finance, knowledge, markets, and networks. Our Zero Interest Loan program has provided over ₦800 million in funding to women entrepreneurs so far, an unprecedented achievement in the industry.”
The Showcase Day brought together ten remarkable finalists selected from over 1,000 applications. The ten startups pitched their innovative solutions to a panel of judges and HubPharm stood out for its innovative approach to tackling Nigeria’s medication access crisis.
Combining a digital platform with a retail pharmacy chain, the startup has delivered over 100,000 medications across 15 cities, ensuring 98% on-time delivery with AI-driven logistics.
Speaking about the win, HubPharm Co-founder Tope Kareem said:
“I feel excited. It shows that what we are doing is truly innovative and worth pursuing. We plan to explore more options and ensure Nigerians, both at home and abroad, know the importance of prioritizing their health. This funding will enable us to keep growing and making an impact.”
Second place went to Midddleman, a platform simplifying payments for African e-commerce businesses sourcing from China, while Onit, a productivity tool designed for African SMEs, secured third place.
The event also included a fireside chat addressing gender biases in funding. Abidemi Abiodun of Knight Ventures emphasised the urgency of increasing women’s access to venture capital, while also calling for systemic changes to level the playing field.
Abiodun highlighted the stark reality of only 2% of venture capital currently going to women entrepreneurs and emphasising that this disparity needs to be addressed for true inclusion.
Alongside funding, the top three startups will receive a year’s subscription to a fundraising platform, increasing their chances of securing investment. Also, the top ten finalists will get free access to Hub One’s coworking space for a year, valued at a whopping ₦5.4 million, and ongoing support to scale their businesses.
FCMB’s HERccelerate program is setting a new standard for supporting women in tech, with plans to accelerate over 200 startups in the next five years. By fostering innovation and inclusion, FCMB is shaping a brighter future for women entrepreneurs in Nigeria.
