About Honeywell Group
Who is the Honeywell Group?
Founded by Dr. Oba Otudeko, CFR in 1972, Honeywell Group is a leading Nigerian corporate with businesses across major sectors of the Nigerian economy: foods, real estate, infrastructure, energy and services.
How is Itanna linked to the Honeywell Group?
Itanna is funded by the Honeywell Group and forms a core component of its innovation strategy.
The Honeywell Group is committed to funding and supporting entrepreneurs and startups. The Honeywell Group will also provide mentorship from business leaders and entrepreneurs to help you develop your business model.
Honeywell Group will leverage on its local and international network and portfolio businesses to help you scale up, deploy your products and gain access to partners and customers.
Will all the mentors come from the Honeywell Group?
No. Some will but the majority will be entrepreneurs, professionals in the industry and other experts.
Why is the Honeywell Group doing this?
Don’t tell anyone, but we are looking for the next African unicorn.
Is a participating company's product or service guaranteed to be used or distributed by the Honeywell Group?
No, there are no guarantees. It’s entirely at the Honeywell Group’s discretion as to whether or not it enters into any commercial arrangement with a participating company after the programme.
The Application Process
Can I apply if our company or founders are not from Nigeria? Can you help with immigration issues and accommodation?
Absolutely. We are looking for applications across Africa. We will help with the immigration process and help you find appropriate accommodation.
How are the top companies chosen?
These top companies are chosen by a Selection Committee, which is composed of members of the Honeywell Group and external experts.
These companies will be the ones that we believe are most likely to succeed and are ready to scale.
How does the application process work?
Applications for this year’s programme are currently closed. However we are always happy to hear from future applicants. So get in touch.
My startup does not need seed capital, can I still apply?
Please get in touch and send an email to firstname.lastname@example.org
We are also looking for startups who need to raise larger amounts of capital.
Do I need to have a minimum viable product in place?
Yes, you do. However, we will also consider applications that don’t have one, provided the scope to transform Africa is great.
Do I need to have a business plan?
You would need to submit either a video or a pitch deck detailing your product, the problem you are solving, the potential to revolutionise Africa and your team.
We will help you develop a business plan during the programme.
Can I apply again If I am rejected?
Yes. We encourage startups to apply for subsequent cohorts even if they were rejected before.
About the Accelerator
What type of businesses are you looking for?
We are looking for disruptive businesses targeting the African Market, with worldwide potential that can make a great economic and social impact.
How is the programme going to look like?
Key Features of The Accelerator Programme:
- 4-month Programme in a collaborative community working space
- $25,000 (or Naira Equivalent) investment from Honeywell Group to all participants
- Introductions to and guidance from Honeywell Group key decision makers
- Hands-on advice and training from experts
- Mentoring from leading entrepreneurs and industry experts
- The opportunity to pitch your business to Honeywell Group’s network of investor
Where is Itanna located?
The Factory is located in a secret location in Lagos, Nigeria. We have developed a really cool office space.
What happens after the programme?
We are invested in your business. It is in our interest that your business succeeds and as investors we will help you make sure it happens.
Who will be invited to the investor days?
Real investors that have a track record of investing in Africa or in tech companies.
These investors will be selected by the Honeywell Group.
Do I have to be physically present during the period?
Startup teams are required to be physically present during the Programme. That is the best way to take advantage of the learning opportunities, coaching and networking that will be provided.
How many of my team members can I come along with?
We have made provisions for working spaces for approximately 4 team members per startup but are willing to accommodate bigger teams should there be special circumstances to consider.