Three Nigerian startups, Guava, Wellvis and Proximate Agro, have been shortlisted for the first edition of the Vertebra Incubation program. This program will give them access to mentorship and funding from potential investors which include the Bank of Industry.
The three startups emerged out of about 160 startups that applied for the incubation program. Let’s meet the lucky startups.
Wellvis is essentially a digital health startup that attempts to provide a solution that improves the health and general wellness in the most cost-effective matter. The solution is targeted at folks who may or may not have access to a physical health worker in the most cost-effective manner.
Wellvis was founded by Wale Adeosun who also holds the role of Managing Diirector in the company.
According to the founder, people get confused or panicky because of the wrong information they get about medical conditions online. Sometimes, this is also a case of misinterpreting the symptoms they have based on the information presented to them from online sources.
Wellvis therefore offers multiple telehealth solutions. The solutions include a Q & A platform that helps people get quality answers to health questions from a community. The answers are moderated by health experts who are also a part of the community.
While Wale agrees that there are solutions on platforms like Whatsapp, Facebook or Telegram that address the same needs, he however sees the need for a platform-agnostic solution.
A platform agnostic solution means the tech solution can run on any platform, whether it is android, iOS or Linux.
#2 Proximate Agro
This agribased startup focuses on helping farmers have access to finance, extension services and market for their products. By doing this, farmers are able to increase the quantity of their produce and create jobs for people with background in agro-allied educational fields.
This startup is a Point of Sales Platform that enables companies, merchants, pharmacy stores, and hospitals to offer flexible credit to their customers without the use of physical cash or traditional Point-of-sale hardware.
Guava allows customers to pay over time. By doing this, it aims to increase merchant/partner revenue and also increase the purchasing power of customers in order to create a win-win situation for customers and merchants.
Benefits for selected startups
By virtue of being selected for the Vertebra Incubation Program, all three startups will enjoy access to internet facilities, $10,000 in Amazon Web Services (AWS), Credit and Business Support, as well as international market access and network of investors.
They will also have access to funding from potential investors although it is not yet clear whether the funding will be equity-based or debt-based.
Acceptance into the Vertebra incubation program will further help these startups develop their individual products and move on to getting them established in relevant sectors of the economy.