88mph to launch in Nigeria in next year

African accelerator and investment fund 88mph will expand its operations to Nigeria in the first quarter of 2014, adding to the programmes it has already run in Kenya and South Africa.

88mph has to date invested more than US$2 million in two programmes in Nairobi and one in Cape Town, with a second accelerator launching in the latter in February.

Sylvia Brune, manager at 88mph, said: “In mid-February 2014 we will be in Lagos and we are very excited. We will start to renovate the tech space, meet more investors, interesting startups, and finalise partnership deals.”

88mph opened applications for its second Cape Town programme a few weeks ago, offering US$100,000 in seed funding to get mobile and web businesses off the ground.

Dan Bowyer, the newly appointed programme manager in Cape Town, said: “During the three-month accelerator programme set to begin in February 2014 startups will receive mentoring, access to networks, technical infrastructure and workspace, in exchange for an equity stake.”

Applications are set for closure on December 31, with applications for startups available on the 88mph website.

 

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