Techstars, a global investment business that provides access to capital, customized programming for early-stage entrepreneurs/start-ups, one-on-one mentorship, in partnership with ARM labs, a Lagos-based innovation program focused on helping biotech start-ups, announced the launch of the ARM labs Lagos Techstars accelerator program.
The accelerator will be open to so many tech startups in Lagos, however disclosing that the city has been proven to be Africa’s fast-growing tech hub. With its high population, and so many businesses located in Lagos, the city surpassed Nairobi, Kenya to become the top African city on startup Blink’s 2021 global startup ecosystem index.
According to the general manager of Techstars Nancy Wolff, she disclosed that the city of Lagos has established a successful startup ecosystem. In her words, “Lagos has built a successful startup ecosystem that merits more global exposure, investment, and resources, and we can see extraordinary potential in the market”.
No doubt why a lot of Nigerians and even a few foreigners have described Lagos as a land of opportunities. According to statistics, it was disclosed that every hour, 77 people move to Lagos from other parts of Nigeria. Almost everything happens in Lagos. The city has become a hub for the country’s fastest-growing sector, the tech hub which is home to the African biggest startups.
Lagos has a beautiful atmosphere, which is also one of the biggest metropolitan areas in Africa. The city has made a name for itself as a tech hub, rapidly advancing towards a 24-hour economy, which generates 10% of Nigeria’s total GDP of $432.3 billion. The city has built a successful startup ecosystem that merits more global exposure/investment, making it attractive to investors.
The city just has a beautiful ambiance that draws everything into its orbit, no wonder it earned the slogan “Center for Excellence”. A lot of people have even compared the city to the great silicon valley, due to its friendly environment for technology and how it is home to so many tech start-ups and tech hubs in the country.
As regards leadership in the city, the present and past administrations have greatly contributed to making the city what it is today by providing the best business atmosphere, supported by good infrastructures. There is a quote that says, “if you can make it in Lagos, you can make it anywhere in the world”.
The city has been known to provide a first-hand experience of what might be compared to real-life experience because it offers a vast market for any business an entrepreneur desires to do. With the city’s GDP in 2014 at $90 million, Lagos is also home to over 65 percent of Nigeria’s business which houses over 2,000 manufacturing companies.
Looking at all these features embedded in the city, it is, therefore, pertinent to say that anyone who desires to build a tech startup or business, should not hesitate to relocate to Lagos as it remains a top destination. As someone who resides in Lagos, the city gives one the feel to succeed.
There is an atmosphere it has, coupled with the hustle and bustle that inspires one to get motivated into doing something. It is no surprise at all that the city remains a top destination for investors and businesses because it provides them the opportunity to succeed.