Venture Garden Group and GreenHouse Capital Open 2018 Application for the First Female-Focused Tech Accelerator Program in Nigeria
GreenHouse Lab now accepting applications for 2018 Cohort Batch
2017 was a record-breaking year for African start-ups. According to research from Disrupt Africa, $195.1 million in venture capital funding was invested in African start-ups compared to $129.1 million in 2016 – an increase of 51%. With $63.3 million in startup investments in 2017, Nigeria was the top investment destination in Africa followed by South Africa and Kenya. As Nigeria continues to emerge as a technology hub, one thing is clear – women are missing on the playing field.
Of the 25% of women in tech, only 21% are tech executives and of these, only 11% are African technology officers. Currently, more than half of global executives report a shortfall of tech workers which slows or prevents businesses from growing. As Nigeria moves full-speed ahead towards a technology driven future, a capable and well-represented tech workforce will be critical to ensure continued economic growth across all sectors and industries. In addition to being under-represented in the tech space, women are also severely under-funded. In 2017, women led start-ups received just 2.2% of all available venture capital dollars although women-led start-ups have been found to produce over 30% higher return on equity.
The first of its kind in Nigeria, GreenHouse Lab is a three-month accelerator focused solely on early-stage, women-led technology start-ups in sub-Saharan Africa, as well as African run start-ups domiciled in the US or UK with products that are scalable in African markets. The application portal for the 2018 cohort opens on July 2, 2018 at www.greenhouse.capital/greenhouselab and closes on July 20.