Hurray! Co-Creation Hub (CCHub) has released it 2018 incubation plans. In the last seven years, the Hub has supported the growth of a community that is passionate about using technology to solve local problems and transform Nigeria.
One of the ways they have achieved this is through the incubation program, where CCHub provides startups with the resources and support they need to grow their businesses into sustainable companies that employ people and solve local problems.
To date, over fifty (50) ideas have enjoyed supports at various levels through by passing through the incubation program; some of which are Lifebank, BudgIT, WeCyclers, Truppr, Mamalette, Stutern and Genii games.
The new incubation program
The Hub announced that the new program will now run for a fixed duration of 12 months, as opposed to 18+ months.
“A new program plan has been designed to be more intentional about the support we give to startups with a core focus on enabling startups to gain more traction and access funding post-incubation”.
“In addition to an investment of up to $25,000 that startups receive during the program, our startups will get direct access to possible follow-on capital of up to $250,000 from the Growth Capital fund by CcHUB”, the Hub released on its website.
According to the statement, entrepreneurs will get hands-on support from the different practices in 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 lead/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.
“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.
“Other benefits of the program include: workspace for up to 6 team members, meeting rooms and high speed internet”.
Eligibility Criteria: To be eligible to attend the program, startups must meet the following criteria:
Have a revenue model and be generating revenue.
Have a functional product (web or mobile).
Have gained Users/customers.
Been in operations (since launch date) for at least 6 months.
Have a management team consisting of up to 3 members which includes a technical lead and founder(s) that are fully committed to the business.
Have the potential to scale.
“The 2018/19 Program is scheduled to start first week in April and applications are now officially open. Although the deadline for submission is March 16, applications will be reviewed on an ongoing basis until all spaces are filled so startups are advised to apply early.
“The program is open to startup teams from anywhere in the world that are looking to grow their businesses in Africa, particularly Nigeria. We are looking for committed and ambitious founders with technology solutions that have gained some traction, generating revenue, addresses a clear need/want and has the potential to scale”, the Hub said.
You can find more information and apply here.