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New technology hub makes debut in Lagos

By Ibukun Igbasan
23 November 2016   |   1:16 am
V8 Africa, a premier co-working space and technology accelerator has opened in Lekki, Lagos for entrepreneurs and independent professionals.
Tobi Oke

Tobi Oke

V8 Africa, a premier co-working space and technology accelerator has opened in Lekki, Lagos for entrepreneurs and independent professionals.
The hub, a brainchild of former Head of Intel Capital Africa, Tobi Oke, and Chief Executive Officer of iConcepts, Ugo Okoye, is a community and collaboration platform that will provide professional support services to entrepreneurs or business owners, start-ups and small businesses especially those in the Digital Technology space. 
Speaking on the initiative, Oke said V8 Africa was birthed from several years of actively creating conducive environments, strategies for new technology businesses and shared experiences of both founders in identifying, enabling and accelerating start-up growth across Africa. 

Speaking on the motivation behind V8, Oke said: “We are passionate about helping businesses overcome these obstacles by offering efficient and affordable infrastructure as a service. It is evident that in this part of the world, infrastructure requirements and costs for businesses to become successful are higher than usual. Consequently, a significant number of businesses have not been able to go beyond their start-up phase due to these infrastructure hurdles which range from: limited access to funding, lack of very basic infrastructure and many more.
As Nigeria steps boldly into a more technology-driven economy, we see more local businesses embracing co-working communities, especially in this period of infrastructure unavailability and CAPEX costs.’’
On the entrant into the ecosystem, co-founder, Okoye pointed out, “apart from providing co-working space to our members, V8 will also incubate new technology companies with its maiden accelerator program kicking off in the first quarter of 2017. This is a key part of the company’s vision in addition to the provision of infrastructural services in its co-working space

“Also, we do not see ourselves as a competition to other co-working spaces; we see ourselves as part of the ecosystem in Nigeria enabling entrepreneurship, innovation and collaboration.”

On the partnership, Ugo said: “our culminated 30 years’ experience in investing and delivering world class technology solutions will contribute to the ecosystem by enabling innovation within Nigeria and Africa.”
“As a mandate, V8 intends to invest in the best and brightest African technology companies through mentoring, funding and the provision of infrastructure. Furthermore, despite the focus on technology, the company is looking to build a community that encourages a broad range of African talent to grow and flourish.” 

On the offerings of the hub, he said, “V8 will provide services such as on-demand workspace, mentorship, capacity building, business strategies and funding. Members of the co-working space will have access to secure enterprise grade Internet and wifi, uninterrupted power supply, business meeting and training rooms. These will all be provided as a service saving V8 members the significant capital costs if procured on a stand-alone basis.”

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