In late September, 2016 YCombinator visited Nigeria and listened to several startup companies pitch their innovative technology-driven solutions to the Silicon Valley Startup Accelerator. Following this, nine Nigerian startup companies have been invited for an interview.
They fly to San Francisco for an interview slated for 7 – 10th November, 2017 to pitch for an opportunity to join the Winter 2017 batch. Twice every year, YCombinator invests as much as $120,000 seed funding in startups and, for three months, work intensively with these startups.
They refine their pitch and prepare them for Demo Day, where the startup companies get to present to an invite-only and carefully selected audience. Here startups get the opportunity to pitch to prospective later stage investors and possible acquirers.
YCombinator has invested in over a thousand companies including Dropbox, Airbnb, CircutiHub, Quora and GitLab. For these Nigerian startups, they have examples in Paystack and Flutterwave – companies that have benefited from YCombinator’s investment for their solutions on online payment integration for African businesses.
The Tech Space in Nigeria has continued to grow and produce world-class solutions to local challenges and over here at Techsuplex, we wish these startups good success.