Three technology startups – Risk Trading Engine, mTransfers and Social Lender have secured a $165,000 grant at the inaugural pitching event themed VentureClash 2018 organised by Connecticut Innovations, USA, in Lagos.
The startups: Risk Trading Engine, founded by Alexandre Aquereburu; mTransfers, by Segun Adeyemi and Maxwell Obi and Social Lender, by Faith Adesomowo and Mudiaga Ogboru have also got an opportunity to pitch for more investments at a larger event in Connecticut, USA later in the year.
Connecticut Innovations is a strategic investing arm for innovative growing companies.
12 Nigerian startups pitched in the competition before the emergence of the three.
The programme tagged: ‘VentureClash 2018’, began in March  with the first round of applications. It will be concluded at a finalist pitch competition scheduled for October 18, in the USA.
VentureClash is Connecticut’s global ventures’ challenge for early-stage companies. It involves players in digital health, financial technology (fintech), the Internet of Things (IoT), and insurance technology (insurtech).
The Chief Executive Officer, etouches, Oni Chukwu, said the first-place winner would receive an investment award of $1.5 million. The remaining pool will be awarded to other finalists based on judges’ input. He added that winners would also receive mentoring and other assistance.
VentureClash is supported by Connecticut through its $5 million Global Venture Challenge for early-stage companies.
Chukwu, a tech investor with interest in startups, facilitated the programme in Nigeria.
Other competing startups at the VentureClash event were Solynta Mobile, Sattrak Services Limited, Kangpe Inc, Advancio Interactive, Beeptool Comm. & Integrated Services Limited.
Also included were Virtual Farm, SBSC, eMed Diaries, Peach Water Consulting, and FINT.