After a two-year run, the ARM Labs Lagos Techstars accelerator program has officially concluded. This decision comes as part of Techstars’ broader strategy to streamline its operations and focus on core markets.
The program, which launched in 2022, provided funding and mentorship to several promising startups. However, due to various factors, including financial constraints and a shift in strategic focus, Techstars has decided to discontinue the program.
This closure aligns with Techstars’ recent efforts to reduce costs and optimize its portfolio. The company has also made significant layoffs and shut down several other accelerator programs globally.
While the Lagos Techstars program has undoubtedly contributed to the growth of the Nigerian startup ecosystem, its closure marks the end of an important initiative. However, the startups that have benefited from the program will continue to receive support from Techstars.
