Nigeria’s LifeBank to Receive €50,000 at the Merck Accelerator’s New Innovation Centre in Germany

Nigeria’s tech and science company, Life Bank will be getting financial support of up to € 50,000 as well as mentoring from experts while taking part in a three month program called the Merck Accelerator in Germany.

Merck has announced ten startups that will join the sixth round of the Merck Accelerator program in March . This program would span across healthcare, life science, performance materials, and other related business fields   at its new Innovation Center in Darmstadt, Germany. Interestingly, Life Bank happens to be the only African startup participating in the program.

Congratulations @LifeBankNigeria
@temite we are so proud of you in the Nigerian healthtech space! @my_medicines @docneto

Nigerian startup, LifeBank joins Marck Accelerator in Germany, will get €50k support https://t.co/WT8ldXWmKI via @Techpointdotng

— Abimbola Adebakin (@AOAdebakin) March 22, 2018

Life Bank, a startup from Lagos, Nigeria, led by Temie Giwa-Tubosun, Ayo Michael Olufemi, and Adedayo Ayodele, helps to solve the problem of shortages in medical supplies by compiling inventory information from several medical suppliers using a combination of mobile and web applications.

It will be joined by other startups from countries such as-Chile, Germany, Switzerland, Germany and the United States (US) for the program.

Speaking on the Program, Micheal Gamber, head of Merck Innovation Centre said:

We are delighted to be here welcoming the 10 startups to Darmstadt. Being connected to the startup ecosystem is an essential part of developing collaborative projects with our colleagues from the business sectors, whilst also exploring our innovation fields such as bio-sensing and interfaces – from the startup perspective.

Gamber also said that all the startup teams joining them this year are all great groups as they were chosen from 400 excellent applications.

The other startups joining the accelerator include; Intelag (Chile), Biotx.ai (Germany), ChemAlive (Switzerland), digi.bio (The Netherlands), BioXplor (United States), Munditech (Germany), Wingcopter (Germany), Salve Tech (United Kingdom), Syrona Women (United Kingdom).

The Merck Accelerator program helps to supports young companies while selected companies will receive mentoring and in-depth coaching from a network comprised of over 50,000 experts from 66 countries.

The startups would also receive financial support of up to €50,000, as well as work space at the Merck Innovation Centre in Darmstadt, where they can develop product prototypes and exchange ideas with other startup teams and Merck experts.