Inside ARM Labs: Why should it be your startup's next move?

Dear Founders,

The year 2021 was the first time, my startup Keble applied for the ARMLabs but we didn’t get in.? In 2022? we reapplied and this time around we got in. In this article, I will be sharing tips that can guide you on how to structure your application for success.

During our first application to ARMLabs,? I reached out to Tomi and Austin of Trove Finance to understand how to structure our application. Despite our best efforts, we didn’t make it to the final stage.

When we applied for the second time, we were more mature as founders and as a business. We had gained experience and learned from our past challenges and mistakes (In essence, we have seen plenty shege).?

What was revealing for us was that, we still implemented the lessons from the conversation with Tomi and Austin the previous year and we got in. I believe these lessons from them are still applicable to date and I will be sharing them here, I hope they give you valuable insights on how to structure your pitch and application effectively.

We would be exploring the following in this article;

1. What is ARMLabs about?

2. Who is this program for?

3. Why should you apply?

4. Tips for the Application

Let's dive in!

A. What is ARM Labs?

ARM Labs is a six-week accelerator program powered by Asset & Resource Management Holding Company (ARM) Limited, one of the largest financial institutions in Nigeria. It is designed to support early-stage startups by providing them with the necessary resources to scale their businesses.

B. Who is this Program for?

ARM Labs is specifically designed for early-stage Nigerian startups and aspiring entrepreneurs who have already developed a product and need assistance refining their business ideas and improving their products or services. Each year, the program focuses on specific sectors of the market.?

This year, they are particularly interested in FinTech, PenTech (Pension Tech), Data Intelligence, and Digital Trade startups. If your startup falls within any of these categories, I encourage you to apply. If you are unsure about the category your startup belongs to, feel free to leave a comment, and I will assist you in that area.

C. Why should you Apply?

There are three compelling reasons to apply for ARM Labs:

1. Capital and Perks: ARMLabs understands that you need financial resources to sustain and grow your business. Therefore, they provide $50,000 USD and several perks within the first few weeks of the program. This amount is not distributed in installments but is paid directly to your USD Company account in full. It's important to note that in exchange for this investment, they will take a 6% equity stake in your company. Be prepared for this commitment.

2. Mentors and Experts: As a participant in ARMLabs, you will have access to highly knowledgeable individuals within and outside the ARM business, who can serve as mentors. Additionally, the program connects you with mentors from both the local and global startup ecosystems. One of the highlights of the program for me was the opportunity to learn about building a culture and scaling a business,? from a founder based in the US,? who had successfully exited his businesses for close to 1 billion dollars. That particular session was life-changing for me!

3. Integration with ARM Subsidiaries: ARM is a group that encompasses various subsidiaries specializing in pensions, trusts, investments, and real estate. These subsidiaries are significant entities seeking technological advancements to improve efficiency and unlock exponential growth. Participating in ARMLabs will provide you with direct access to the Managing Directors of each subsidiary. This direct contact can open doors and create valuable opportunities within the ARM ecosystem that you can leverage.

Building connections and collaboration within this network is highly advantageous for your business and can unlock revenue-generating avenues for both the ARM Group and your business, as a founder you should be able to pitch this very clearly.

Tips for the Application:

Here are four application tips, I learned during the program that will help you stand out.

1. Keep it Simple: Avoid over-explaining your solution. While your product or service may have numerous use cases, focus on the most important aspects of your business to share.

2. Highlight your Team: Emphasize the qualifications of your team members to demonstrate their ability to build and drive the success of your startup. Give special attention to your co-founders as they are the pillars of your organization.

3. Create Alignment with ARM Group: Dedicate a section of your pitch deck to explaining why ARMLabs is the right fit for your startup. Showcase how your business strategy and Product align with any of the subsidiaries within the ARM Group.

4. Highlight Traction and Projections: When showcasing your startup's progress, emphasize any traction you have gained. Present your achievements in a comprehensive and impactful manner. For Instance, instead of simply stating revenue figures for different months, leverage percentages and quarterly comparisons to effectively demonstrate your growth. Additionally, provide projections for future months to illustrate how the $50,000 investment from ARMLabs would positively impact your business.

Recap

In this article, I have provided an overview of ARMLabs, its target audience, the reasons to apply, and offered hopefully valuable application tips. I genuinely hope this information proves beneficial on your entrepreneurial journey, and I extend my best wishes to you. Remember, the path to success is rarely easy, and I commend your courage in taking this leap. If you have previously applied without success, consider trying again. Don't give up just yet; persistence can lead to great opportunities.

Click this link to apply for ARMLabs.?

Please, If you find this article useful, please share it with other founders who may benefit from it.

With Love from Jam.