Co-creation Hub announces $700,000 investment in Edo startups

Co-creation Hub, a technology innovation centre has announced an investment of $700,000 in tech startups based in Edo State to apply through its Innovation Challenge and Support programs.

This initiative which was announced in a statement on Friday aims to accelerate the growth of technology-driven enterprises within the state.

Under the investment programs, a total of 30 startups are set to receive $10,000 each, while an additional 20 startups will be granted $20,000 each, aggregating to the $700,000 commitment by Cc Hub.

The programs are also being organized with the support of the Bill & Melinda Gates Foundation.

Working hand-in-hand with the Edo State Government, Cc Hub envisions strengthening the foundation of Edo State’s digital solutions ecosystem

Cc Hub was co-founded by the current Minister of Communications, Innovation, and Digital Economy, Dr Bosun Tijani.

The Minister said, “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!”

According to the Hub, the deadline for the applications is 12 February 2024 and interested startups based in Edo State can apply.

In 2022, the Edo State government announced that it had recorded an exponential rise in the number of tech startups and a boom in entrepreneurial activities in the state.

It said in a statement that with the surge, the state was being repositioned to become the leading startup ecosystem on the African continent, ready to contribute its fair share to the $6.6bn Africa’s startup ecosystem.