WordPress Hosti
HomeOffersVenture Garden Group and GreenHouse Capital Open 2018 Application for the First...

Venture Garden Group and GreenHouse Capital Open 2018 Application for the First Female-Focused Tech Accelerator Program in Nigeria

GreenHouse Lab now accepting applications for 2018 Cohort Batch

Best Jumia Tech Week Deals

Lagos, Nigeria – 2017 was a record-breaking year for African start-ups. According to research from Disrupt Africa, $195.1 million in venture capital funding was invested in African start-ups compared to $129.1 million in 2016 – an increase of 51%. With $63.3 million in startup investments in 2017, Nigeria was the top investment destination in Africa followed by South Africa and Kenya.

As Nigeria continues to emerge as a technology hub, one thing is clear – women are missing on the playing field. Of the 25% of women in tech, only 21% are tech executives and of these, only 11% are African technology officers.

Currently, more than half of global executives report a shortfall of tech workers which slows or prevents businesses from growing. As Nigeria moves full-speed ahead towards a technology driven future, a capable and well-represented tech workforce will be critical to ensure continued economic growth across all sectors and industries.

In addition to being under-represented in the tech space, women are also severely under-funded. In 2017, women led start-ups received just 2.2% of all available venture capital dollars although women-led start-ups have been found to produce over 30% higher return on equity.

The first of its kind in Nigeria, GreenHouse Lab is a three-month accelerator focused solely on early-stage, women-led technology start-ups in sub-Saharan Africa, as well as African run start-ups domiciled in the US or UK with products that are scalable in African markets. The application portal for the 2018 cohort opens on July 2, 2018 at  www.greenhouse.capital and closes on July 20.

GreenHouse Lab is run by GreenHouse Capital, an investment holding company within Venture Garden Group (VGG) – a leading provider of innovative, data-driven, end-to-end technology platforms to solve real socio-economic challenges in impact sectors critical to sustainable economic development.

As one of Africa’s leading technology focused venture capital firms, GreenHouse Capital is uniquely positioned to offer expertise, a strong investor and mentor network and resources to grow strong companies. Over the past three years, GreenHouse has invested in 15 companies and combined, they’ve raised $40M in capital.

- Advertisement -Fiverr Business

According to Tosin Durotoye, Director of GreenHouse Lab,

“without women at the tech table, we’ll fail to tap into the vast brainpower and opportunity for innovation necessary to propel Nigeria and Africa as a whole, forward. Our mission at GreenHouse Lab is to level the playing field by providing early-stage, women-led, high-growth technology start-ups with investments and support infrastructure within the range of 250k USD and provide exceptional teams with the resources and mentorship network they need to drive growth and scale their companies both in emerging and international markets.”

GreenHouse Lab features an intensive curriculum delivered in-person and virtually and leverages existing entrepreneurship education frameworks focused on a variety of key topics including, but not limited to, product development, market segmentation, human capital, marketing, and fundraising.

Other channels of engagement include weekly lunch presentations, guest lectures, and office hours with the Entrepreneurs in Residence (EIRs).

The program is residential and will be hosted at Vibranium Valley – VGG’s tech campus in Lagos. The accelerator ends with a demo day where companies get to pitch their businesses to a wide network of local and international investors.

- Advertisement -AliExpress Anniversary Sales

As a VC firm with a portfolio of companies, GreenHouse Capital will also invest a minimum of 100k USD in companies that qualify and reach specific milestones at the end of the program.

GreenHouse Lab seeks companies with the right team to build a successful company and as such, will select startups that are extremely passionate about their chosen vertical and demonstrate the necessary commitment to build the company of their dreams.

Each start-up must have at least one woman on their leadership team which should consist of at least two members and at least one technical member. Beyond this, eligible companies must be early-stage, investment-ready tech startups that have identified a critical need in Africa and are building an effective, sustainable and scalable solution.

Each company must have developed, at a minimum, a beta-product and be in the process of refining their go-to-market strategy, building out sales channels and generating revenue.

The three-month accelerator begins in mid-August and ends in mid-November. Selected start-ups will be required to commit full-time to the program.

Interested applicants may apply starting on July 2 at greenhouse.capital.  The application deadline is July 20.  For additional information, contact GreenHouse Lab at [email protected] or visit www.greenhouse.capital/.

Related Topics

AliExpress 11 11 Sales
NaijaTechGuide may receive financial compensation for products/services purchased through affiliate links on this site. See full Affiliate Disclosure Here
Paschal Okafor
Paschal Okafor
Paschal Okafor is the founder of NaijaTechGuide. A Graduate of Electrical and Electronics Engineering, Paschal is passionate about Technology and since 2006 has written over 4000 articles covering Mobile Devices, Consumer Electronics, Digital Marketing, Mobile Apps, and Online Services. Over the past 16 years, he has managed to turn a blog that started life on a Google Blogger subdomain into the Largest Technology Blog in Nigeria and quite possibly the largest in Africa. Paschal has been Building, Analyzing, and Maintaining Websites for over 17 years and also shares his wealth of knowledge and experience about building and managing websites on NaijaTechGuide.

Recommended Read on NaijaTechGuide

Best Marketing Automation Software 2024

You need the best marketing automation software to scale your business fast and convert...

Best Content Marketing Tools for 2024

As a content marketer, you have a lot of tasks to accomplish. You need...

Best VPN Services Providers for 2024

The internet is one of the greatest achievements of humanity, but it is also...

Best 20KVA Generators to Buy in 2024

Generator sets, as an alternate source of power supply, come in their different sizes...

Best Laptops for Students 2024: 11 Top Picks to Choose From

So, you are a student who is looking to get the best laptop they...

Cheap Android Phones 2024 – Price, Specs, and Best Deals

Android phones are the most popular smartphone category. The popularity of Android phones are...

Best Android Phones 2024 – Price, Specs, and Best Deals

New Android Phones are launched into the market every week. This means that if...

Best Web Hosting Services for Building Websites in 2024

A good and reliable web hosting service will make a big difference for your...
Fiverr Business

More like this

Cupid-Approved: A Curated Selection of Valentine’s Day Gifts for 2024

Valentine's Day is the perfect opportunity to show your special someone just how much...

Ready, Set, Shop! Tecno’s Million Naira Spree and Black Friday Raffles brings the Excitement!

Black Friday has arrived, and TECNO is going above and beyond to make this...

Amazon Prime Big Deal Days Sales: Best Deals

The second Prime Day event of the year, the Amazon Prime Big Deal Days...