In Summary
- Two Ashesi alumni-led startups, Swoove and One Plan, have been selected for the 2023 ARM Labs Lagos Techstars Accelerator. One Plan aids workers in Africa's informal economy with financial planning, while Swoove digitizes logistics for emerging markets.
- The Techstars program offers $120,000 in funding per startup, access to over $5 million in resources, and mentorship, aiming to support companies that are transforming Africa through technology.
- Founders Kevin (Swoove) and Harold (One Plan) have emphasised the program's role in their growth, highlighting opportunities for market exploration, credibility, and skill-building, in line with Ashesi's foundational preparation.
December 18, 2023 - Two Ashesi alumni-led companies, Swoove and One Plan, have been selected for the 2023 cohort of the ARM Labs Lagos Techstars Accelerator, comprising twelve startups. One Plan, founded by Harold Awuah-Darko '23, helps workers in Africa's informal economy create affordable financial plans, making it easier to start a retirement plan, access low-interest credit, and access health + life insurance cover. Swoove, co-founded by Kevin Blankson '19 and other co-founders Kwaku Tabiri, Kingsley Amponsah, Gloria Pascucci, and Robert Quainoo, empowers logistics companies in emerging markets to digitise and scale their businesses with dispatch automation, fleet management, tracking and telematics, and a wide delivery network.
The 14-week immersive programme will see Techstars invest up to $120,000 in funding in each startup, described by the Accelerator as companies "changing Africa and the world by using technology, data and intelligence to serve a population growing in size, youth, income and digital access." The programme will also provide the 2023 cohort with access to over $400,000 in cash equivalent hosting, accounting and legal support and other benefits worth more than $5 million.
"We had always known Techstars as one of the programmes we wanted to be a part of," says Kevin, who was part of the pioneering members of Ashesi’s Venture Incubator. "We applied because we knew the programme would give us a great opportunity to explore and grow in the Lagos market, while also giving us the credibility to finalise our early-stage funding round. We are learning a lot about ourselves and what it takes to succeed as an African business."
"We aim to improve the lives of Africans working in the informal sector by providing financial services," adds Harold, describing One Plan's goals. "A significant portion lacks retirement savings and credit access. Starting January 2024, One Plan will offer plans for building retirement funding that can be used as credit collateral, aiding business growth and securing post-work life. In addition to funding, Techstars enables this with mentorship and skill-building workshops, reinforcing the preparation I received at Ashesi."
