Honeywell’s Accelerator, Itanna Hosts First Demo Day as Startups Pitch
Itanna, a Lagos-based accelerator and investment vehicle backed by leading Nigerian corporate the Honeywell Group, held its inaugural Demo Day, marking the end of its four-month innovation programme for tech-enabled, for-profit African startups.
The tech startups are, Accounteer – providers of online accounting services for SMEs across Africa, KoloPay – a cashless target savings mobile and web application. Others are Tradebuza – an online platform for managing and brokering commodities sourcing and outgrower scheme and PowerCube – providers of an affordable power supply using renewable energy.
They were chosen from over 200 applications from across Africa.
Held at Itanna’s Enterprise Factory, Demo Day saw the pilot Cohort pitch to Honeywell Group’s extensive network of high net-worth investors, as they, the cohorts, vied to secure investment, corporate backing and strategic partnerships, for their companies.
Each of the startup will receive up to $25,000 in investment from Honeywell Group, in addition to training and mentorship from leading industry experts in the form of UI/UX Sessions, legal and HR workshops, classes on technology, business and marketing, reviews of revenue/pricing model and operational metrics, mentorship sessions and guest lectures from some of Nigeria’s most renowned entrepreneurs and business icons.
Tomi Otudeko, Head of Sustainability at Honeywell Group and Director of Itanna says, “Itanna is uniquely placed, as our goal continues to be bridging the gap between our tech startup ecosystem and corporate Nigeria. Over the last four months, the entire team at Itanna, along with our strategic partners and the Honeywell Group, have committed to creating a professional environment where businesses can learn from experts in their field and build innovative and dynamic businesses of the future.”
Tony Idugboe, Vice President, Head of Investments at Itanna concludes, “Our Cohort have shown true enthusiasm and entrepreneurism – which investors search for. In preparing to secure investment, they have learned to plan, be patient and show flexibility and of course, showcase phenomenal pitching skills, Demo Day has given them the confidence to embark on the next stage of their entrepreneurial journey. We wish them all the very best”.
The Demo Day also hosted a panel of leading players in the Nigerian tech and business ecosystems, who discussed the role of corporate Nigeria in achieving win-win collaborations with tech startups. Panelists included Deji Oguntonade, Head Fintech & Innovation, Guaranty Trust Bank, Lola Ekugo, Head Digital Innovation Lab, First Bank, Obi Emetatom, Managing Director, Appzone and Seun Faluyi, Managing Director, Uraga Power Solutions
