A big opportunity for African entrepreneurs was announced today. Connecticut Innovations, a U.S. organization whose aim is to provide investment for early-stage technology companies.  Nigeria was identified as a promising hub of innovative, high-growth-potential businesses and has chosen Lagos as an ideal location to expand the footprint of its VentureClash global venture challenge.

The VentureClash global venture challenge powered by Connecticut will hold in Lagos, Africa’s Sillicon Valley on the 22-23 May 2018.

VentureClash is Connecticut Innovation’s worldwide competition for companies that are actively advancing disruptive solutions in Digital Health, Financial Technology (FinTech) the Internet of Things (IoT) and Insurance Technology (InsurTech).

This competition will bring together the most futuristic companies from Africa to compete for one of three semifinalist spots. $150,000 investment from Connecticut Innovations will go for the first-place winner. While $5,000 grant awards would be given to the three top winners. They will also visit and explore Connecticut as a place to live and grow a business.

Meanwhile, entries for this competition is already open and is expected to close prior to May 14, 2018. Here is the link www.ventureclash.com/apply if your startup or company wants to apply.

For any startup or firm to qualify for this competition. Such firm must have been in business for at least one year. Have paying customers or customers who are actively testing their product. Interested companies must also agree to the terms and conditions, which include maintaining a presence in Connecticut.

After the applications about 10 or 20 companies among those applicants will be invited to pitch at the event in Lagos. Each of the selected applicants be given eight minutes to pitch. This will precede the questions and answers session. The panel will have time to deliberate and announce the winners. However, three winners will be selected to move on to the semifinals round of VentureClash.

Connecticut Innovation is the brain behind this wonderful initiative worth $150,000 to be awarded. It is a US organisation that provides strategic investment for early-stage technology companies.