Nigeria’s Co-Creation Hub (CcHub) has opened applications for its reformatted incubation programme, which will run for 12 months and offer selected startups up-front investment of US$25,000 with the opportunity of securing follow-on capital of up to US$250,000 from the hub’s Growth Capital fund.
CcHub has been an enthusiastic backer of Nigerian startups, launching a US$500,000 fund and investing in over 50 early-stage ventures like Truppr, Traclist, GoMyWay, Jekalo, Mamalette, GRIT Systems and Autobox.
“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 programme to produce better outcomes,” CcHub said.
The result is a new programme that will run for a fixed duration of 12 months, as opposed to 18 months, and has been designed to be more intentional about the support the hub gives to startups with a core focus on enabling them to gain more traction and access funding post-incubation.
Startups will have the opportunity to access both immediate and follow-on funding, and receive hands-on support from the different practices within CcHub to help with business strategy, financial management, digital security and recruitment.
In addition, a newly created product development unit will be available to support the technical team of the different startups.
“There will be an emphasis on growth and distribution as we have identified how challenging it can be for startups to reach their customers quickly and effectively. This will involve one-on-one sessions with experts in sales, marketing, and distribution, as well as marketing opportunities via partnerships with media platforms, companies and personalities,” CcHub said.
“Over the years, CcHub has built a network of corporate partners across the globe. Startups accepted into the program would have access to this network of partners which include several benefits such as $15,000 in credit from Amazon Web Services.”
The programme is scheduled to start in the first week in April, with applications now officially open here until March 16. Applications will be reviewed on an ongoing basis until all spaces are filled, so startups are advised to apply early.