Nigerian entrepreneur support initiative Wennovation Hub has announced the launch of its six-week WENNOKICK pre-acceleration programme in Ibadan, expanding its operations outside Lagos for the first time.
Wennovation Hub is a non-profit social enterprise aimed at accelerating high impact entrepreneurs into the marketplace. The hub runs an accelerator to identify the best teams and then incubates them into the market.
Having initially launched in Lagos, Wennovation Hub is now looking to build on its existing programs and intensify the value exchange by bringing major stakeholders together and building a framework for the Ibadan ecosystem.
The WENNOKICK programme, for which applications are now open, has been designed to guide social entrepreneurs onto a path to sustainable revenue, whether they are for-profit, non-profit, or hybrid. It includes over 50 hours of entrepreneurial learning lectures, mentoring sessions, pitch coaching and peer mentoring.
By the end of the programme participants are expected to come out with a four-year financial plan, an elevator pitch, a pitch deck, and a business model.
“We have chosen Ibadan because of the huge human resource potential here given a student population of about 55,000, the drive the government has put into the development of SMEs recently, the fact economic conditions here make it one of the easiest places to start a business in Nigeria, and most importantly we want to drive even development in the country and opening an incubator to help drive the next generation of high impact entrepreneurs,” Wennovation Hub said.
The hub hopes to unearth bankable businesses with a clear path to revenue and sustainability, in which Wennovation will take 2.5 per cent carried interest if they opt for the WennoPlatform Programme and reach revenue or secure funding.