Ventures Platform eyes incubation of 160 startups, $200m yearly earnings
Emerging Platform Group, a technology solution firm, which created the Venture Platform, an innovation hub, has projected an incubation of about 160 startups and drives to become one of the top five technology companies generating combined yearly revenues of $200 million by 2020.
Using Abuja, Nigeria’s Federal Capital as the springboard, Emerging Platform Group, said the Venture Platform is a world-class innovation hub for the tech community in the FCT, stressing that it is an incubation ground for young entrepreneurs, which provides them an enabling environment and mentorship from business experts and venture capitalists.
The firm said that at the core of Venture Platform’s value proposition is an intensive 16-week hybrid incubation program, a residence for need-based cohorts and a paid co-working space for free-lance entrepreneurs and professionals on the go. Through the incubation and accelerator programs, events and training, Ventures Platform will identify, support and fund innovative ideas and enterprises in the e-agriculture, e-health care, Fintech, e-government, ICT and other technology inclined areas, bringing innovative ideas from concept to reality.
The firm explained that the incubation program offers accepted startups a unique mix of workspace, business strategy and capacity building, short-term residency for accepted fellows and seed funding for innovative ideas.
Speaking on the plan, Founder of Ventures Platform, Kola Aina, said: “We believe this mix of complete support provides early stage startups the tools needed to survive, grow and thrive ultimately. In addition to programs and a rigorous curriculum, we provide seed funding for companies that show promise.”
Aina explained that added that they have designed a one-of-a-kind application process that provides value to all applicants whether or not they are accepted into the incubation program.
According to him, at each stage, successful applicants are shortlisted and contacted to move on to the next stage, while unsuccessful applicants still gain valuable business knowledge. The selection committee has the final say on which cohorts go into the 16-week incubation program.
The first incubation cycle will take place from August to November 2016 and will take place in Abuja, Nigeria. The selection committee will be made up of experienced mentors that will be assigned to mentor the cohorts during their incubation period.
“By 2020 ventures platform hopes to have incubated 160 start-ups, become one of the top five technology companies generating combined annual revenues of $200 million, improve the Tech ecosystem in Abuja and Nigeria at large and leverage more partnerships and collaboration to build the ecosystem”, he stated.