CcHUB launches $500,000 investment fund for startups

Nigerian-owned social innovation centre, Co-creation Hub (CcHUB), has launched a $500,000 seed investment fund for startups within its incubation programme.

The startups will receive sums ranging from $10,000 to $25,000 in the next two years to support their business model experimentation and operations.

CcHUB is launching the seed investment in commemoration of the first anniversary of its incubation office.

Cheif executive officer and co-founder of CcHUB, ‘Bosun Tijani enthused that the seed investment would ensure that “startups have a sure footing post pre-incubation to concentrate on rapidly executing their plans and learning from the market”.

Past beneficiaries of the seed programme are Vacantboards, Traclist, 500shops, GeniiGames and Truppr owned by ‘Bosun Tijani.

These tech startups were funded through the $90,000 Tony Elumelu Foundation/CcHUB pre-seed fund.

The fund helped them to develop their ideas, earn revenues, increase their user bases and build partnerships, hence needing a different kind of support.

Meanwhile, CcHUB Director, Tunji Eleso revealed that the incubator is currently in discussion with investors to provide additional funding to two of its initial beneficiaries.

Through its incubation hub, CCHUB provides budding entrepreneurs with mentorship, user testing, access to markets, office space and administration in response to the need to provide business development for business beginners.