ALIP, the pre-accelerator program, is meticulously crafted to bolster early-stage startups and budding tech founders in Nigeria.
Through a comprehensive blend of guidance, resources, and mentorship, ALIP aims to refine business ideas, develop robust products or services, and groom participants for further acceleration and investment readiness.
Program Structure:
- Duration: The program spans over 8 weeks, during which startups receive intensive support aimed at enhancing their product, market strategies, and team dynamics. This period is pivotal in ensuring that startups are well-prepared for success.
- Supportive Ecosystem: ALIP provides access to the extensive ARM network, along with exclusive deals from partner organizations. Moreover, startups benefit from the mentorship of seasoned professionals from the fintech industry, who offer practical guidance and facilitate key introductions.
Eligibility Criteria:
To qualify for ALIP, startups must meet the following criteria:
- Pre-Seed Stage: Startups at the pre-seed stage are eligible to apply, provided they have received or raised less than $500,000 prior to applying for the program.
- Market Demand: Startups must demonstrate market demand for their product or services, substantiated by a specified number of active customers or a demonstrated growth rate.
- Committed Team: The founding team should be full-time, committed, and willing to actively participate in the program.
- Market Validation: Evidence of market validation, including user traction, customer feedback, and initial revenue streams, is essential.
- Hybrid Communication: Virtual or in-person communication is a requirement, depending on the session.
- Acceptance of Investment Terms: Startups must accept the terms of investment prior to entering ALIP.
- Legal Entity: Applicants must be legal registered entities in Nigeria.
Benefits of ALIP:
- Strategic Investment: Startups completing ALIP and meeting all program requirements stand a chance to receive up to $50,000 investment from ARM in exchange for 6% equity.
- Mentorship: Engage with experienced mentors and industry experts throughout the program, gaining invaluable insights and guidance.
- Tailored Curriculum: ALIP’s curriculum covers critical aspects of business development, including the POEM framework (Proposition, Organization, Economics & Milestones).
- Market Access and Networking: Connect with a diverse array of industry players, potential partners, and investors, expanding your network and fostering collaborations.
- Investor Readiness: ALIP focuses on preparing startups for further funding rounds, equipping them with the necessary skills and resources.
- Visibility and Branding: Showcase your startup to a wider audience, leveraging ALIP’s platform for increased visibility and branding opportunities.
Timeline:
- Call for Applications: April 29th, 2024
- Applications Close: May 10th, 2024
- Final Call for Application: May 20th, 2024
- ARM Office Visit Hours: May 20th – May 22nd, 2024
- Application Close: May 22nd, 2024
- Candidate Screening: June 3rd – June 17th, 2024
- Final Offer Sent: June 21st, 2024
- Program Resumption: July 22nd, 2024
Deadline for Applications: May 22nd, 2024
Click HERE to Apply
