The Nigerian Startup Ecosystem Report 2022 provides an overview of the country's startup ecosystem, including trends, challenges, and opportunities. The report highlights the impact of the COVID-19 pandemic on the ecosystem, with startups adapting to the new realities of remote work and digital-first solutions. It also showcases the increasing investment activity in the ecosystem, with local and international investors showing interest in Nigerian startups.
Key Takeaways
Lagos is leading the country in startups being founded there
Nigeria is the most popular investment destination on the continent. Between 2015-2022 they have raised a total of US$ 2,068,709,445. So If you are looking for funding as a Nigerian startup or want to fund one, Lagos is the place to be
Fintech is the biggest sector followed by Ecommerce, Retail Tech and E-health
The most active investors are (just to name a few) :
Ventures Platform
Y-combinator
Kepple Africa Ventures,
Techstars
Microtraction.
Support for Startups, even leading the continent as 45.1% of startups (within this report) have been through some type of incubation.
Companies that provide support: CcHub, Ventrure Platform, Passion Incubator, Greenhouse Capital etc.
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