Silicon Valley venture capital firm and startup incubator 500 Startups has announced a new set of startups to be admitted into its seed program. The new batch consists of 44 startups drawn from across the world. One of them, Printivo, is a Nigerian startup which operates as an online digital print shop.
Printivo provides businesses with customized prints for marketing and other purposes. Its platform allows users to browse and select from templates which can be customized, printed and shipped to them.
The selected startups will undergo a four-month incubator program which will run until May. The startups, including Printivo, will have access to mentorship, hands-on support for business and product strategy, connection to a global network of startup founders and partners, and an office space to use for the duration of the program. They will each get a net investment of $112,000, in exchange for a 6% stake in their venture. The program will end with a Demo Day in which startups will get the chance to pitch to potential investors for additional funding.
In 2016, two Nigerian startups, Aella Credit and TalentBase, were among several startups named in the 19th batch of 500 Startups’ accelerator program.