Co-creation Hub Nigeria; a social innovation centre dedicated to accelerating the application of social capital and technology for economic prosperity, boosts its incubation program with the launch of a $500,000 seed investment fund to support early stage start-ups over the next two years. Start-ups will receive sums ranging from $10,000 – $25,000 to support business model experimentation and operations.
Initial beneficiaries of the seed program are :
- Vacantboards (www.vacantboards.com) : led by Tunji Also is an online outdoor advertising marketplace which enables one-click booking of outdoor advert spaces & tracking of advert campaigns.
- Truppr (www.truppr.com) founded by Bosun Tijani is a social tool that connects people with physical activities and teammates in cities across the world.
- Traclist (www.traclist.com) run by Emotu Balogun is an online marketplace that helps fashion retailers expose their inventory and allows customers all over Nigeria to buy from wide array of products.
- 500 shops (www.500shops.com) led by Clive Ayonye offers small and medium sized businesses the opportunity to set up a complete online store and accept orders in minutes.
- Genii games (www.geniigames.com) led by Adebayo Adegbembo delivers educative apps aimed at preserving and promoting African Culture and related subjects which include languages, etiquette and ethics.
The initial beneficiaries of the seed investment went through CcHUB’s Pre-Incubation program which identifies and supports aspiring technology entrepreneurs looking to address local market problems with relevant solutions.
Through the $90,000 Tony Elumelu Foundation/CcHUB pre-seed fund, beneficiaries started out with a grant award of $5,000 each to support their ideas, build working prototypes, carry out initial market testing & proof their concepts. These ideas grew steadily, earning revenues, increasing their user bases and building partnerships hence needing a different kind of support.
Startups looking to transform the way Nigerians live, play and do business can also apply to join the portfolio via http://cchubnigeria.com/pre-incubation/