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Fellow's tech accelerator creates multinational African incubator

CChub-ihub-Acquisition-

2017 Fellow 'Bosun Tijani has announced that his Nigerian innovation center and seed-powerhouse - Co-Creation Hub - will join forces with a similar, Nairobi-based organisation called iHub. CcHub acquired iHub on 26 September 2019.

The purchase amount is undisclosed, however Tijani told TechChurch that CcHub will finance the deal out of its real-estate project in which it is building a new 10-story innovation center to replace its Herbert Macaulay Way building in Lagos. The deal will see iHub’s team become part of CcHUB’s wider central support and strategy network, whilst retaining its name and senior management structure.

Tijani, who co-founded CcHub, will be CEO for both locations. As part of the acquisition, CcHUB will make key hires in innovation consulting, people management, programme management and community support as strengthens its pan-African network. A further goal will be to mobilise its resources, network and relationships to accelerate the growth of technology innovation and entrepreneurship in Africa.

Tijani views the arrangement as a boost to the continent’s tech ecosystem. “It strengthens our ability to support innovation. iHub and CcHub coming together makes us stronger; it gives us a chance to attract greater resources and talent,” he said.

The acquisition joins two of the Africa’s most recognized tech hubs.

Launched in 2011, and partnered by international companies such as Google for Start-ups, Facebook, Oracle and organisations including Omidyar Network and Ford Foundation, CcHUB is Africa’s first open-living lab and pre-incubation space, home to technologists, social entrepreneurs, government bodies, tech companies, impact investors and more. As one of the most prolific tech hubs in Africa, the Lagos-based hub has built a vibrant community of over 14,000 people and has incubated and provided support to a portfolio of more than 120 early-stage ventures, providing solutions to social problems with technology including Lifebank, Riby, BudgIT and WeCyclers.

iHub, launched in 2010, is home to internationally-recognised companies such as BRCK and Ushahidi, as well as start-ups such as Zayride, Eneza Education, Taimba and Optimetriks and has seen over 500 companies receive business support services, 100+ of which have gone through incubation and accelerator programs. 

There's more on the acquisition at the CcHub website.

 

 

 
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Friday, 06 December 2019

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