Vatebra Tech Hub, powered by the Bank of Industry, has selected three startups for its inaugural 6-month mentorship-driven incubation program.
Chinyelu Chikwendu, a Director at Vatebra Tech Hub, told Business Insider SSA by Pulse that the essence of the program is to provide startups with needed mentorship and give them access to finance by inviting potential investors and the Bank of Industry (BOI) to support.
“At the end of the 6-month mentoring, we hope to have a Demo Day – where partners, investors, and others willing to invest can come and see what the startups can offer. We will also continue to mentor the startups and see that things are going on as they planned.”
Chikwendu said over 160 startups applied for the program and three were selected based on various parameters lined by the hub.
Seun Tobi, a representative of the Bank of Industry (BOI), said mentorship is very critical in any business to succeed. He urged startups to take the program very seriously, saying at the end of the program, BOI is ready to assist in raising capital.
Brief details of the tech startups:
Guava
A Point of Sales Platform that enables companies, merchants, pharmacy stores, and hospitals to offer flexible credit to their customers without the use of physical cash or traditional Point- of- sale hardware.
The startup allows customers to pay overtime thereby increasing merchant/partner revenue and also increasing the purchasing power of customers creating a win-win situation for customers and merchants.
Wellvis
It is an online platform that provides access to verified health information and health professionals in real-time.
Built as an integrated platform-agnostic solution to close the gap in access to reliable and timely health information and support for African populations.
Proximate AGRO
Proximate AGRO is an innovative platform that solves the problems of accessibility of farmers to finance, market, and extension services, to increase food production, creating ready-made jobs for agro-allied graduates and support training for youth and SMEs in the agricultural value chain.
As part of the program benefit, the three startups will enjoy access to internet facilities, $10,000 in AWS Credit and Business Support, as well as international market access and network of investors.
Launched in 2019, the hub said it has impacted more than 100 entrepreneurs and startups.
