Itanna means ‘to ignite’.
Which is what, today, we are doing with our very first innovation programme; a five-month accelerator in Lagos that has been developed by The Honeywell Group in partnership with the African Economic Revolution Fund (AERF), where Africa’s top talent can bring their ideas, visions, expertise, and resources to create a new wave of revolutionary enterprises that stimulate economic growth across the continent.
The application process for our inaugural cohort opens today. Each successful participant will be funded with $20,000 and from each cohort, we aim to select two companies who will go on to receive an additional investment of $100,000 at the end of the programme. Startups participating in the programme will also benefit from Honeywell Group and AERF’s networks, expertise and institutional knowledge.
So now, our search begins for Africa’s top talent from the Financial Technology world. This can be any area of FinTech, although we’re super keen to find disruptors in blockchain technologies, mobile and virtual registrars, credit scoring, data analytics, online lending, investTech, ‘Bots, payments and remittances, in particular, we are looking for founders who ideally have an MVP and want to progress it to the next level. We want people who want to absorb all of our experience, networks and decades-long background in business to make their product or platform into Africa’s next unicorn. We are here for you! We are ready!
What can Itanna provide in terms of business acceleration?
- 5-month programme starting end of Q1 in a collaborative community working space
- $20,000 investment in all participants
- $100,000 investment in the top 2 graduates
- Introductions to and guidance from Honeywell Group key decision makers
- Hands-on advice from the AERF experts
- Mentoring from leading entrepreneurs and industry experts in Nigeria and across Africa
- The opportunity to pitch your business to Honeywell Group and AERF’s networks of investors
Itanna will provide the expertise, market connections, institutional knowledge and the capital required to enable innovative teams build revolutionary enterprises that will transform Africa.
Why us? Why now? Collectively the AERF founders have raised close to $100bn of capital for African firms and institutions. AERF was set up as a social impact initiative that invests in disruptive businesses in Africa to fund an economic revolution through innovation. Honeywell Group is a leading Nigerian corporate with a long entrepreneurial track record of building successful businesses across key segments of the Nigerian economy. Itanna is a key component of the Honeywell Group’s innovation strategy and goes to the core of the Group’s mission statement to “use enterprises to make our world better”.
Together, we have an innate, unparalleled understanding of the intersection between business and investment. Together, we want to fund and mentor the next generation of savvy disruptors. Together, we want to ignite an economic revolution.
So whilst we finish converting our warehouse in Lagos into a beautiful Enterprise Factory, we are laying the groundwork to ensure we have the finest FinTech minds working from there when we open the doors at the end of Q1 2018. Applications are now open and you can find additional details, about our areas of focus and the application process on the new Itanna site that launches today.