In a bid to foster technological advancements and propel the growth of innovative enterprises in Edo State, Co-creation Hub (Cc Hub), a renowned technology innovation center, has unveiled a substantial investment of $700,000 through its Innovation Challenge and Support programs.
The groundbreaking initiative, disclosed in an official statement on Friday, is designed to accelerate the development of technology-driven startups within the state. Cc Hub, working in collaboration with the Edo State Government, is set to fortify the foundation of the digital solutions ecosystem in the region.
Under the investment programs, a total of 30 startups are slated to benefit from a grant of $10,000 each, while an additional 20 promising ventures will receive a more substantial sum of $20,000 each. This commitment by Cc Hub reflects their dedication to empowering and nurturing emerging tech talent.
Notably, the investment programs are receiving significant backing from the Bill & Melinda Gates Foundation, further underscoring the collaborative effort to bolster Edo State’s technological landscape.
Cc Hub, co-founded by Dr. Bosun Tijani, the current Minister of Communications, Innovation, and Digital Economy, is positioned as a key player in driving this initiative. The partnership with the Edo State Government underscores a shared vision to strengthen the state’s position as a hub for digital innovation.
This strategic move aligns with the broader goal of creating a conducive environment for startups to thrive, ultimately contributing to economic growth and job creation in Edo State. As technology continues to reshape industries, the investment by Cc Hub is poised to make a significant impact on the trajectory of innovation in the region.
“We are offering investment support to 50 startups through two programs – the Inclusion-Focused Support and the Innovation Challenge Program for diverse startups with underrepresented founders and teams (women) and the Innovation Challenge for all tech startups with innovative ideas and products, offering funding for those with market potential.
“Dive into opportunity with our Inclusion-Focused Support Program: 30 selected startups, each receiving $10,000 for growth and innovation!
“Innovate, transform, and thrive! with our Innovation Challenge Program: 20 startups, each awarded $20,000 to drive game-changing ideas forward!”, the Minister stated.
According to the information provided by the Hub, the application deadline for interested startups based in Edo State is 12 February 2024.
In 2022, the Edo State government reported a significant increase in the number of tech startups and a thriving entrepreneurial environment in the state. A statement from the government highlighted that the surge in startup activities was part of a strategic initiative to transform Edo State into a leading startup ecosystem in Africa. The government aims to play a substantial role in the $6.6 billion African startup ecosystem.
In line with this vision, the government has set a deadline of 12 February 2024 for startup applications through the Hub, creating an opportunity for interested entrepreneurs to contribute to the state’s growing reputation in the tech and entrepreneurial sectors.