$5 Million Global VentureClash Challenge To Be Hosted in Lagos


VentureClash invites the best early-stage companies worldwide in Digital Health, Fintech, Insurtech and the Internet of Things to compete in Connecticut’s global venture challenge, with investment awards totaling $5 million dollars.

The global competition officially began in 2016. This year’s competition opened in March with the submission of applications. Applicants have their eyes set on the $5 million which Connecticut Innovation has earmarked for investment. Currently, the preliminary competitions are taking place, even as the “finalist live pitch” is slated to hold in October at Yale University.

The overall winner in the competition will receive up to $1.5 million in investment, while the remaining top three finalists will split the remaining $3.5 million. They will also receive mentoring and other forms of assistance.

The event will witness the gathering of some of Africa’s most promising IT startups who will compete to secure one out of the three available semifinalist spots.

Note that asides qualifying for the final stage of the competition, the Lagos VentureClash winner will also receive a $150, 000 investment from Connecticut Innovate. The top three second-place winners will $5,000 worth of grants each.

About twenty companies will be pitching at the Lagos event, all of which must have applied and gone through the selection process.

Must have operated for at least a year.
Must have customers who use their products/services and pay for it
Must agree to the terms and conditions of the competition, one of which include having a presence in Connecticut.

Event Summary
A two-day technology event that will tech place on 22 to 23rd May 0f this year will bring the promising African companies in the same platform. The companies will compete for a one out of three semifinalists’ category in VentureClash. They will also compete for an investment worth $150,000 from Connecticut Innovation. This will go to number one winner and the three top winners will each take $5,000 grant. This will help them visit Connecticut. For qualifications, startups must have spent not less than one year in business. Furthermore, they should have clients who are actively trying their products or are paying and agree to Connecticut’s terms and conditions.

Application Details
Applications are ongoing for those who meet the requirements and will close on 14th May. Either top 10 or 20 firms among the applicants will receive an invitation to pitch at an event that will take place in Lagos. Both will have eight minutes to represent their startups to the attendants that will, later on, be followed by a short question and answer from judges. Thereafter three winners will go to the VentureClash’s semifinals. Those interested should visit here  for the application.