(Ecofin Agency) - Echelon Capital, a venture capital firm that targets young tech companies in Africa, announced plans to support Nigerian startups with up to $1 million by next month.
The resources will mainly focus on companies that have built their capacities and are well positioned on the market, according to Sunday Olorunsheyi (pictured), Founder of Echelon Capital. In addition to strengthening the Nigerian technological ecosystem, the project carried out by Echelon will support entrepreneurs, their teams and projects. The financial contribution will enable beneficiaries to strengthen their product and improve their strategies and revenues.
Let's note that Nigeria ranks among the top 4 largest African economies that attracted the most financing and venture capital investors in 2020, despite the health crisis. The three others are Kenya, South Africa and Egypt.