2022 saw a record 23 startups accepted into Y Combinator

Key takeaways

  • 60 Nigerian startups have featured annually in the prestigious Y Combinator startup accelerator programme since 2016.
  • Y Combinator admitted a record 23 Nigerian startups into its accelerator in 2022.
  • There has been a significant decline in Nigerian startups accepted into the programme after the peak in 2022.

Since Paystack and Flutterwave got admitted into Y Combinator's 2016 batches, 58 other Nigerian startups have participated in the programme.

The 2022 batches admitted a record 23 startups, more than the number admitted in the previous four years combined. Fintech, food and beverage, supply chain, and healthcare accounted for most of the startups admitted.

The sharp decline in the startups present in the 2023 and 2024 batches reflects the accelerator's increase in AI startups, a sector that is nascent in Nigeria and Africa.

Source:

Y Combinator

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