Co-creation Hub to Invest $700,000 in Edo State Tech Startups
In a significant boost to Edo State’s tech ecosystem, Co-creation Hub (Cc Hub) has announced a $700,000 investment in local startups through its Innovation Challenge and Support programs. In collaboration with the Edo State Government and with support from the Bill & Melinda Gates Foundation, Cc Hub aims to foster innovation and entrepreneurship.
Under the initiative, 30 startups stand to receive $10,000 each through the Inclusion-Focused Support Program, while another 20 startups will benefit from the Innovation Challenge Program, receiving $20,000 each.
This strategic move is expected to strengthen the digital solutions landscape in Edo State.Dr. Bosun Tijani, co-founder of Cc Hub and Minister of Communications, Innovation, and Digital Economy, emphasized the inclusive nature of the programs, targeting startups with underrepresented founders, particularly women.
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The call for applications is open, inviting interested startups in Edo State to apply by the deadline on February 12, 2024.
This initiative aligns seamlessly with the Federal Government’s Investment in Digital and Creative Enterprises (i-DICE) program, which plans to inject $617.7 million into Nigerian startups. Spearheaded by the Office of the Vice President, i-DICE aims to promote entrepreneurship and innovation in the digital technology and creative industry sectors.
International collaboration plays a crucial role in i-DICE, with funding contributions from the French Development Agency, African Development Bank, Islamic Development Bank, and the Bank of Industry. Of the total fund, the French Development Agency is contributing 100 million euros ($116 million).
The overarching goal of i-DICE is to train two million young people, empowering them to build their ecosystem. Access to financing for innovative businesses and startups is a key component, signaling a concerted effort to shape the future of Nigeria’s digital and creative landscape
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