● Set to invest $30,000 in each Startup
Lagos, Nigeria. Itanna, the venture platform launched by Honeywell Group in 2018, has announced the commencement of the 2019 edition of its Accelerator Programme and is calling for applications from tech-enabled startups. The 2019 edition will be the second programme for Itanna.
Itanna launched in 2018 with four cohort companies. The four cohort companies were chosen after a selection process that commenced with over 200 applications. This year, Itanna is also looking forward to receiving hundreds of applications from tech-enabled start-ups across Africa.
The 2018 cohort companies were Accounteer, KoloPay, Tradebuza and PowerCube with 3 companies, Accounteer, Tradebuza and PowerCube, receiving $25,000 in investment from Itanna. All companies also received training and mentorship in the form of UI/UX Sessions, legal and HR workshops, classes on technology, business and marketing, reviews of revenue/pricing model and operational metrics, mentorship sessions and guest lectures from some of Africa’s most renowned entrepreneurs and business icons. The 2018 edition ended with a demo day, which provided opportunities for the cohort companies to present their businesses to investors.
Applications for the 2019 accelerator programme are open from 18 March 2019 to 19 April 2019. Itanna will be increasing the number of cohort companies for the 2019 programme to 10 and the investment amount to $30,000. The programme will run from June 2019 to September 2019 and will also culminate in a demo day where the cohort will pitch their start-ups to investors.
Speaking on the 2019 edition, Director, Itanna, who is also Head, Innovation and Sustainability at Honeywell Group, Tomi Otudeko said the latest edition of the accelerator programme is yet another opportunity for Itanna to identify, select and invest in more developed tech start-ups looking for growth capital. “Itanna will support investee companies to scale up their startups by leveraging Honeywell Group’s extensive network, industry expertise and, most importantly, access to capital,” she further said.
Also speaking, Tony Idugboe, Vice President and Head, Investments at Itanna said he was looking forward to another successful edition of the accelerator programme. “We are more than ready to receive and review applications from start-ups across Africa and we are even more excited by the opportunity to work with another set of innovative, passionate and committed young tech entrepreneurs in the 2019 accelerator programme,” he concluded.