Sasware Nigeria, a technology investment company, has announced the launch of Start-up in Residence (STAIR), a co-entrepreneurship program focused on aspiring entrepreneurs and newly founded start-ups who are looking to build a viable technology business.
STAIR, which will commence this year and run annually, is an intensive 12 months’ resident program that aims to nurture entrepreneurs working on the next big idea on a focus sector that is of interest to Sasware.
During the incubation period, Sasware and the entrepreneur would become a team that would define, develop and iterate a product to take to market.
Being co-entrepreneur, Sasware would provide the business support skills needed to make a business succeed and would support the entrepreneurs at every phase of their company’s growth by being actively involved and providing multi-sector expertise and funding.
The 2016 STAIR program will focus on building Fintech companies to address the challenges the country and Africa face with their financial systems.
“Despite better access to technology with hundreds of millions accessing mobile technology, African people still struggle with access to financial services. From banking to insurance, mortgage and pension. Technology is needed in these areas to disrupt the traditional financial services that have failed millions. The sector still requires more innovation to harness the impact of technology in the way Africans access financial services,” Sasware COO, Ifeoma Uddoh said in a press release.
Subsequent STAIR program will focus on other areas such as Agric technology, government technology, renewable energy and manufacturing – areas that needs innovation for the continent to grow.
Sasware Nigeria launched the STAIR program in a bid to help in driving innovation and momentum for disruptive technologies in Nigeria. Last year, the company invested in Medismarts, a Lagos-based health technology startup.
Sasware Nigeria, which provides early seed funding for tech start-ups, is the technology investment subsidiary of 2014-founded Signal Alliance, an IT provider and an end-to-end system integrator.