CcHUB supports 50 tech startups, begins incubation programme
Co-creation Hub Nigeria (CcHUB), has provided various supports from financial to technical for about 50 Information and Communications Technology (ICT) start-ups in the last seven years.
According to the Director, Incubation Unit, CcHUB, Damilola Teidi, the platform has supported the growth of a community that is passionate about using technology to solve local problems and transform Nigeria.
Teidi revealed that one way CcHUB has done this has been through the platform’s incubation programme, where it provides startups with the resources and support they need to grow their businesses into sustainable companies that employ people and solve local problems.
“To date, over 50 startups have enjoyed pour support at various levels through our incubation programme, some of which include Lifebank, BudgIT, WeCyclers, Truppr, Mamalette, Stutern and Genii games.
CcHUB is Nigeria’s first open living lab and pre-incubation space designed to be a multi-functional, multi-purpose space where work to catalyse creative social tech ventures take place. The HUB is a place for technologists, social entrepreneurs, government, tech companies, impact investors and hackers.
He further explained that Lifebank, which is the most recent graduate, joined the programme with mostly an idea of the company they wanted to build. “During their time at the hub, they received funding, business support, expert advice and a conducive working space. Now two years in, Lifebank has moved over 9000 pints of blood, saved over 2000 lives and made over $90,000 in revenue, and has partnerships with over 160 hospitals. The startup also recently raised $200,000 in funds.”
According to him, the CcHUB incubation programme, which opens from first week in April, targets tech startups that have gained some traction, generating revenue, address a clear need/want, and has the potential to scale.
He said the programme runs for 12 months, with a core focus on enabling startups to gain more traction and access funding post-incubation.
With submission deadline fixed for March 16, the benefits expected to come from the incubation programme include providing equity investment of up $25,000, access to potential investors and possible follow-up capital of up to $250,000 from the Growth Capital fund by CcHUB; hands-on-support on business strategy, financial management, digital security, product development advisory and human resource management.
Others are emphasis on enabling startups reach their customers quickly and effectively.
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