The Honeywell Group in partnership with the African Economic Revolution Fund (AERF) has launched Itanna, innovation programme where Africa’s top talent can bring their ideas, visions, expertise, and resources to create a new wave of revolutionary enterprises that stimulate economic growth across the continent.
Itanna is a key component of the Honeywell Group’s innovation strategy and goes to the core of the Group’s mission statement to “use enterprises to make our world better”
Itanna’s first five-month accelerator programme is billed to open in Lagos and entries are opened.
The application process for the inaugural cohort opens Monday. Each successful participant will be funded with $20,000 and from each cohort, two companies who will go on to receive an additional investment of $100,000 at the end of the programme would be selected.
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Startups participating in the programme will also benefit from Honeywell Group and AERF’s networks, expertise and institutional knowledge.
“So now, our search begins for Africa’s top talent from the Financial Technology world. This can be any area of FinTech, although we’re super keen to find disruptors in blockchain technologies, mobile and virtual registrars, credit scoring, data analytics, online lending, investTech, ‘Bots, payments and remittances, in particular, “ adding that they are looking for founders who ideally have an MVP and want to progress it to the next level.
“We want people who want to absorb all of our experience, networks and decades-long background in business to make their product or platform into Africa’s next unicorn. We are here for you! We are ready!” tA statement from Honneywell reads
Itanna is billed to provide the expertise, market connections, institutional knowledge and the capital required to enable innovative teams build revolutionary enterprises that will transform Africa.
Collectively the AERF founders have raised close to $100 billion of capital for African firms and institutions. AERF was set up as a social impact initiative that invests in disruptive businesses in Africato fund an economic revolution through innovation.
Honeywell Group is a leading Nigerian corporate with a long entrepreneurial track record of building successful businesses across key segments of the Nigerian economy.
“We are laying the groundwork to ensure we have the finest Fintech minds working from there when we open the doors in February 2018. Applications are now open and you can find additional details, about our areas of focus and the application process on the new Itanna site that launches today,” Honeywell said in a statement.