Nigeria’s leading technology innovation hub, Co-Creation hub recently partnered with the Tony Elumelu Foundation (TEF), an institution dedicated to the promotion and celebration of excellence in business leadership and entrepreneurship across Africa to provide seed funding to 20 technological ideas/ventures targeted at typical social challenges facing Nigerians.
The fund which is targeted at areas of the economy such as healthcare, education, agriculture, finance amongst others will be focusing on early stage ventures.
According to Bosun Tijani, CEO of Co-Creation Hub Nigeria, “This partnership with The Tony Elumelu Foundation is exciting to us for many reasons. It is not every day that you see an African philanthropic organisation that is not just looking to throw grants at charity cases but is more interested in supporting causes that have the potential to create thousands of economic and social opportunities for Nigerian people. As young entrepreneurs in what the two organisations are now calling Lagos’s ‘Silicon Lagoon’, TEF’s interest and involvement in promoting social technology is an inspiration and forces us to set the bar high.”
Dr. Wiebe Boer, CEO of The Tony Elumelu Foundation noted that “The partnership is part of our broader effort to develop an integrated venture pipeline development process in Nigeria. The Co-Creation Hub is doing work that is at the sweet spot of who we are as a Foundation –equipping emerging entrepreneurs with a passion for transformative social and economic wealth creation in Nigeria in particular, and Africa in general. TEF is pleased to support something on this level which has not previously been formally done in Nigeria.”
“It is my belief that our collaboration with CcHub will help provide job creation opportunities across a broader geography than CcHub currently operates, and ultimately improve the impact investing space in Nigeria,” he added.
Three technology startups that will be recipients of the seed based fund include the startups below:
* Efiko is a product of a social tech start-up targeted at improving the pass rate for Nigeria’s secondary students in national exams. The solution is a mobile testing platform tied to school curricula and designed to provide access to assessment and learning resources for secondary school students.
* OfficeMotion is a software company that develops software products for small and medium-sized businesses. They are currently developing a product called Traclist, a web platform that allows micro and small retailers to showcase their inventory over the Internet, thereby giving consumers access to their inventory from web browsers and mobile devices.
* Varsoft is a product of Varsoft Technologies Ltd. It is an inclusive ICT product targeted at congregational type audiences, i.e. libraries, churches, seminars, libraries etc. The solution enables content delivery without the use of the Internet.
About The Tony Elumelu Foundation
The Tony Elumelu Foundation is an Africa-based and African-funded not-for-profit institution dedicated to the promotion and celebration of excellence in business leadership and entrepreneurship across Africa. As a 21st century catalytic philanthropy, the Foundation is committed to the economic transformation of Africa by enhancing the competitiveness and growth of the African private sector. Founded in 2010 by Tony O. Elumelu, MFR, the Foundation identifies and addresses systemic challenges that inhibit African entrepreneurs. For more information on The Tony Elumelu Foundation, visitwww.tonyelumelufoundation.org.
About Co-Creation Hub Nigeria
Co-Creation Hub Nigeria is a social innovation centre dedicated to accelerating the application of social capital and technology for economic prosperity. The innovation hub is Africa’s premier living lab designed as a space where work to catalyse creative social tech ventures takes place. For more information about CcHub, visitwww.cchubnigeria.com.