The Incubation program at CcHUB takes a hands-on approach to helping entrepreneurs execute a working business model and grow a sustainable business. Our goal is to help the entrepreneur(s) properly structure their business, ensure consistent growth and access funding to build a lasting global entity.
About the Award:
In the last 7 years, CcHUB has supported the growth of a community that is passionate about using technology to solve local problems and transform Nigeria. One of the ways we have done this is through our incubation program, where we provide startups with the resources and support they need to grow their businesses into sustainable companies that employ people and solve local problems.
To date, over fifty (50) ideas have enjoyed our support at various levels through our incubation program, some of which include Lifebank, BudgIT, WeCyclers, Truppr, Mamalette, Stutern and Genii games.
In our quest to continue to provide the right support, we identified areas of improvement through feedback from current and past incubatees as well as the larger community, and revamped our incubation program to produce better outcomes.
CcHUB is an innovation centre dedicated to accelerating the application of social capital and technology for economic prosperity. The technology hub is the first in Nigeria to serve as an Open Living Lab in which user-driven innovation is fully integrated in the co-creative process of new services, products and societal infrastructures.
To be eligible to attend the program, startups must meet the following criteria:
- Have a revenue model and be generating revenue.
- Have a functional product (web or mobile).
- Have gained Users/customers.
- Been in operations (since launch date) for at least 6 months.
- Have a management team consisting of up to 3 members which includes a technical lead and founder(s) that are fully committed to the business.
- Have the potential to scale.
The program is open to startup teams from anywhere in the world that are looking to grow their businesses in Africa, particularly Nigeria. We are looking for committed and ambitious founders with technology solutions that have gained some traction, generating revenue, addresses a clear need/want and has the potential to scale.
Value of Award:
Startups that are accepted into the program will receive the following:
- Funding of up to $25,000 to run your operations during the program. In addition, startups will get direct access to possible follow-on capital between $100,000 – $250,000 from the Growth Capital fund by CcHUB.
- Office space for up to 6 team members, high speed internet, meeting rooms & more.
- Hands-on support: Business strategy, financial management, recruitment, product development (advisory)
- Access to experienced entrepreneurs and industry experts via mentorship.
- Access to our network of corporate partners.
- Access to investors for funding post-incubation.
- $15,000 Amazon Web Services Promotional credit and more products from partners.
CcHUB takes 7 – 10% equity in startups that are accepted into the program.
Other benefits of the program include: workspace for up to 6 team members, meeting rooms and high speed internet.
Duration of Program:
The 2018/19 Program is scheduled to start first week in April. The incubation program will now run for a fixed duration of 12 months, as opposed to 18+ months.
16th March 2018 at 3:59pm. However, applications will be reviewed on an ongoing basis until all spaces are filled so startups are advised to apply early.
How to Apply:
You can find more information and apply here.
Visit the Program Webpage for Details