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In China alone, there are an estimated 6,000 incubators, and the number is growing. But China is not the only one; India, Israel, USA and Netherlands are also increasing this number rapidly.
African Startup Ecosystem too, is now booming and gaining popularity amongst the global tech ecosystems. Last year the ecosystem saw a rise in both the numbers of startups and funding, see the report. Tech ecosystem in Nigeria, Ghana, South Africa and Kenya are currently experiencing a startup explosion.
With all this activity happening, we did our homework and came up with names you should be paying attention to if you are a startup in Nigeria.
So, here it is folks, a list of homegrown active Accelerators and Incubators in Nigeria:
Regarded as Nigeria’s first start-up incubator, Co-Creation Hub is based in the heart of Yaba, Lagos. In the last seven years, CcHub has helped over 50 tech start-ups. In 2015, CcHub announced the launch of its $5 million social innovation fund, Growth Capital, backed by the likes of Omidyar Network. The incubation programme at CcHub delivers a range of programmes like Summer of Code, Social Change Summit, CodeCamp targeting the social impact and technology arenas. It is reported that CcHub takes around 7% equity stake in startups it incubates.
Founded in: 2010
Who should you know: Bosun Tijani (CEO), Femi Longe (Co-Founder)
Offerings: Funding of up to USD 25 k and access to follow-on capital between USD 100 k-250 k
Contact: [email protected]
Key Startups: Mamalette, Vacantboards, Truppr, WeCollers, Traclist, Efiko, BudgIt, AutoBox
With a USD 1.5 Mn accelerator fund and startup workspace in Lagos, LeadPath is exclusively aimed at startups doing business in software applications, mobile applications, electronic payments and big data.
Founded in: 2015
Who should you know: Olumide Soyombo, Kazeem Tewogbade and Tope Ajao
Offerings: The accelerator aims to invest anything from USD 25k to USD 100k, office space and hands-on business support in return for anything between 20 – 40% equity.
Key Startups: PushCV, Uregista, AfriQbuy, Simer, MediTell
Launched by one of the successful tech entrepreneurs in Nigeria Jason Njoku, Spark has raised over raised USD 3 Mn and has so far invested in 13 companies. Spark’s portfolio startup Hotels.ng , went on to raise Series A and is speculated to have delivered a 4x on the investment made.
Who should you know: Jason Njoku, Bastian Gotter and Mary Njoku
Offerings: SPARK’s investments range from USD 50k – USD 150k.
Contact: [email protected], [email protected]
Key Startups: hotels.ng, bus.com.ng, ToLet.com.ng, Paystack, Fot
StartPreneurs offers a 3 month-long accelerator program. The focus is on Machine learning, Artificial Intelligence, and Augmented Reality startups. There’s also the Startpreneurs Youth Acceleration Program (SYAP), where children and youth are aided to activate and develop their ideas, dreams, skills and confidence. They have a strategic partnership with Silicon Valley’s 500 startups.
Founded in: Jan 2015
Who should you know: Jennifer Chizua (Founder & President), Yomi Tejumola (Vice President)
Key Startups: Tiro, Saduwa, WeMuzik and Mobidoc.
Ventures Platform is a seed stage fund and accelerator based out of Abuja. They invest in startups who are past their MVP stage and help entrepreneurs rapidly grow their business by offering support in implementing frameworks for B2C marketing, business development, and partnerships.
Founded in: 2016
Who should you know: Kola Aina (Founding Partner), Dotun Olowoporoku (General Partner), Kayode Oyewole (Head Investments and Portfolio support).
Offering: From Pre-seed investment of USD 40k to Series A+ investment in the range of USD 500k – USD 1 M.
Key Startups: Kangpe, Kudi, Jalo, Gerocare, Wesabi, printivo.com, paystack, mobileforms, Proteach.
HEBRON STARTUP LABS – Covenant University
The Hebron Startup Labs is a tech hub wholly funded and run by the management of Covenant University, Nigeria.
Founded in: 2017
Who should you know: Stephen Oluwatobi, Director of Entrepreneurship, Covenant University
Contact: [email protected], Twitter
ROAR NIGERIA HUB – University of Nigeria Nsukka
Roar Nigeria is a University-based tech startup incubator established by the management of the University of Nigeria Nsukka (UNN). Startups within and around the UNN campus are on the radar of Roar.
Who should you know: Benjamin Chukwuma Ozumba (Vice Chancellor)
START INNOVATION HUB
Start Innovation Hub Nigeria is a growth accelerator in Uyo, Akwa Ibom State, South-South of Nigeria. The hub provides tech entrepreneurs and enthusiasts in the Niger Delta region with office space, internet, power and mentorship. In terms of Investment focus areas, Start Innovation hub is eyeing startups in education, energy, agriculture and health.
Founded in: 2014
Who should you know: Hanson Johnson (CEO)
Contact: [email protected]
Key Startups: Kwikerrands, Afropot, Rhodies Luxury boutique, Locus Plus
[Disclaimer: This article is a part of our content series “Enabling Africa”. If you think we have missed some information or have mentioned something incorrectly, feel free to drop us a line. ]
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