Ten Innovative startups become part of the Innovest Ignite Accelerator for Nigerian entrepreneurs

Despite the challenging macroeconomic conditions impacting businesses, Nigerian startups persist in creating technological solutions to a multitude of problems within the country. Their efforts have managed to maintain investor interest amid these difficult times.

The Innovest Ignite Lagos accelerator has a mission to provide support to 5,000 startups originating from Africa within the coming six years. The support will take various forms, such as mentorship, funding, and access to a global network which is especially beneficial for early-stage startups in Nigeria.

This accelerator program is developed in collaboration with Techpoint Africa. At the program’s conclusion, it will award $20,000 in equity funding to three selected startups. Importantly, it also promises to continue to provide support to all startups even after the program.

Here are the ten startups that make up the batch:

Lucred provides users with up to ₦200,000 in credit that can be used at over 1,000 merchant locations. New users get approved in less than five minutes after providing information such as their BVN, phone number, and banking credentials.

Influsights helps businesses engage with influencers for their marketing campaigns. Launched in January 2024, it helps businesses streamline influencer marketing campaigns while providing valuable insights.

Mage provides financial services to creative businesses and offers spend management, payments, and credit to businesses. It also provides analytics tools, enabling businesses to make data-backed decisions.

Bunce is a payment automation and customer value management platform for businesses. Drawing on insights from business data, it enables its customers to identify potential revenue-generating opportunities and improve their services.

SmartPharm users can access any healthcare product they need using the SmartPharm app. It helps them save time that would have typically been spent commuting and enables them to locate pharmacies close to them.

Pap is a gamified search engine that helps climate-friendly projects raise capital. Users accumulate points, which can be used to unlock rewards on platforms such as Uber Eats and Bolt.

Belarush is a food and grocery delivery app for Nigerian universities. Since March 2023, it has delivered more than 15,000 orders and processed over 33 million

Run is a last-mile delivery startup catering to businesses and individuals. In the three years since it was founded, it has completed more than 150,000 deliveries and served over 70,000 users.

OfficeAjo digitizes the ajo system that has been used by many Africans. Verified employees can contribute specific amounts to a pool and take turns withdrawing. Through this, it helps employees access interest-free financing.

Blueroomcare is a mental health startup providing access to low-cost therapy solutions to Nigerians. Users can access qualified therapists for as little as ₦5,000 weekly, while ₦18,000 gets them a monthly subscription. It also provides access to faith-based counselling for its users.