Tamwilcom has announced the launch of the new edition of the Innov Invest Fund (F2I), signaling its continued commitment to supporting startups and fostering the innovation ecosystem. This initiative aims to provide financial backing to innovative projects and startups, with the goal of financing a total of eight hundred startups over a five-year period.
As part of this endeavor, Tamwilcom has initiated a campaign to label support structures that will be responsible for implementing a new range of financing products targeted at innovative entrepreneurs. The institution has issued a Call for Expression of Interest (EOI) starting from June 28th, which will remain open until July 17th. The objective is to select up to twenty support structures operating in various stages, including “ideation,” “incubation,” and “pre-acceleration.” These support structures are expected to present a clear value proposition that caters to one or more of these segments. The ultimate aim is to enhance the success rate of supported startups, transforming them into entities that generate value and employment opportunities.
It is worth noting that the “acceleration” segment will be addressed subsequently through a dedicated offering. This comprehensive approach reflects Tamwilcom’s commitment to providing a continuum of support to startups, facilitating their growth and enabling them to secure independent funding through fundraising activities.
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In order to maximize the impact of the new offering, Tamwilcom plans to establish partnerships with key stakeholders within the ecosystem. These partnerships will be selected through a competitive process based on calls for expression of interest. Furthermore, in line with its objective of enhancing the impact of the new offering, Tamwilcom intends to develop synergies with other public and private initiatives. The success of these endeavors ultimately relies on strong demand from startups and the diversification of their innovative strategies.
The launch of this new edition of the Innov Invest Fund sets the stage for Tamwilcom’s strategic plan from 2023 to 2026. The institution envisions adapting the financing offering to meet the evolving needs of the ecosystem while ensuring the continuity of support for startups through appropriate guidance to accelerate the maturation of innovative projects.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard