Case 18Technology accelerator market entry in Nigeria
Establishing a global technology accelerator in Nigeria.
A global technology accelerator was bringing its programme to Nigeria. Its international documents had been written for other legal systems and needed to work, and be enforceable, under Nigerian law.
- Client
- Global technology accelerator (confidential)
- Sector
- Technology and startups
- Practice
- Venture & Technology
- Jurisdiction
- Nigeria
The brief
Our client operates accelerator programmes across several continents and decided to establish a Nigerian presence to invest in and support local founders.
Its standard programme agreements, investment instruments and operating contracts had been drafted for other jurisdictions. Applied unchanged in Nigeria, some provisions would have been unenforceable, some would have created avoidable tax and regulatory exposure, and some would simply have been unfamiliar to Nigerian founders and their advisers.
Our advice
- 01
Entity and establishment
Advising on the appropriate vehicle for the Nigerian operation and completing incorporation, registrations and the business permits required for a foreign-owned company.
- 02
Contract domestication
Reviewing and adapting the accelerator’s programme agreements, investment instruments and template contracts so that each operated as intended under Nigerian law.
- 03
Investment instruments
Aligning SAFE-style and equity instruments with Nigerian company law, capital importation requirements and the expectations of local founders.
- 04
Employment and intellectual property
Preparing employment, consultancy and intellectual property assignment documents for staff, mentors and participating startups.
- 05
Regulatory and data compliance
Advising on data protection obligations under the Nigeria Data Protection Act 2023 and the tax treatment of programme investments.
Outcome
The accelerator launched its Nigerian operation with an established local entity and a domesticated suite of documents, allowing it to invest in and contract with Nigerian founders on terms enforceable in Nigeria.