Honeywell Group’s recently launched tech accelerator and investment company, Itanna, is calling for applications for its 2019 accelerator programme. Open to African tech-enabled startups, the programme offers about N10 million ($30,000) in funding as well as training and mentorship support.
Currently its second cohort, the accelerator was launched by the flour making company in 2018 to drive tech innovation in the country. The tech hub promises a four-month incubator programme for tech-enabled startups at its Enterprise Factory.
The accelerator had about 4 companies in its first cohort – Accounteer, a complete cloud accounting solution; KoloPay, a cashless target savings mobile and web application; Tradebuza, an online platform for managing and brokering commodities sourcing and outgrower scheme; and PowerCube, providers of an affordable power supply using renewable energy.
These startups were chosen from over 200 applications and each received $25,000 in investment from Itanna.
Now in its second year, Itanna will be increasing the number of cohort companies from 4 to 10 and the investment amount from $25,000 to $30,000. The accelerator hopes to select these 10 cohorts from hundreds of applications from tech-enabled start-ups across Africa.
The accelerator programme would also be providing companies with training and mentorship in the form of UI/UX sessions, legal and HR workshops, courses on technology, business and marketing, reviews of revenue/pricing model and operational metrics, mentorship sessions and guest lectures from industry stakeholders from across Africa.
“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.”
Tomi Otudeko, Head, Innovation and Sustainability at Honeywell Group and Director, Itanna.
This years programme will run for 4 months, between June 2019 to September 2019. And just like the last cohort, the programme would culminate in a demo day where the cohort will pitch their start-ups to a budding crowd of high network investors, venture funds, entrepreneurs and other partners from the Itanna network. If lucky, startups can receive additional funding from these gathering.
Interested startups can click here to apply.
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