However, even the most skilled graduates still find themselves endlessly job hunting. Lagos, the supposed land of opportunities, is overcrowded, and the dream of building a successful startup in Nigeria sometimes feels like chasing shadows.

But what if the next big thing in African tech wasn’t from Lagos or Abuja—but from Ilorin?

Well, the Ilorin Innovation Hub, a 13,000-square-metre tech centre is coming to change the story. Driven by the Kwara State Government in partnership with IHS Nigeria, this facility is not another government project that looks good on paper—it’s designed to create 10,000 jobs, incubate startups, and provide young innovators with the tools they need to build global businesses.

With the commencement of incubation and acceleration programs announced on Thursday, 27 February 2025, the hub has been described as the largest of its kind in West Africa, with a 3,000-square-metre indoor workspace capable of accommodating over 1,000 concurrent users. 

For a state that has long been overshadowed by bigger commercial hubs, we hear the message—Ilorin is getting ready to compete globally.

With innovators like CcHub and Future Africa appointed to lead incubation initiatives, and the government slashing internet costs to attract digital businesses, Kwara State seems serious about becoming a tech giant.

So, could the next Nigerian unicorn be born in Ilorin? If this hub fulfils its promises, the answer might just be yes.

“Why Not a Tech Unicorn from Ilorin?” – IHS Nigeria CEO Challenges Innovators

In his address, Mohamad Darwish, CEO of IHS Nigeria, explained the technological growth and economic opportunities the hub will bring:

“This hub represents a bold step towards fostering innovation, entrepreneurship, and digital transformation, not only in Kwara State but across Nigeria as a whole,” Darwish stated.

He noted IHS Nigeria’s focus on digital infrastructure development, stressing that the hub is not just an edifice, but an ecosystem designed to promote creativity, train young innovators with skills, and provide access to funding and mentorship.

“Unicorns are emerging globally, so the question to ask is ‘Why not from Ilorin, Kwara State?’” Darwish stressed.

With a vision to generate over 10,000 direct and indirect jobs across sectors such as digital skills, agricultural technology, and energy innovation, Darwish affirmed IHS Nigeria’s goal to empower young entrepreneurs to build globally scalable solutions.

Government Endorsement: “The World Will Soon Hear of Kwara State”

Representing the Kwara State Government, Dr Mary Ayinde, commissioner for Tertiary Education, spoke on the prospects of the Ilorin Innovation Hub.

“This is another giant stride of His Excellency, Mallam AbdulRahman AbdulRazaq. Kwara State is going places, and the world will soon hear of Kwara State,” she said.

The state government had slashed the cost of right-of-way fees for fibre optic installations, reducing limitations for internet service providers (ISPs) and making connectivity more affordable for residents. 

As a result, Kwara now has a low-cost, high-speed internet infrastructure, making it attractive for businesses and technology-driven enterprises.

Ayinde stressed the importance of connectivity in driving economic development, adding that the state is committed to ensuring that the hub serves as a launchpad for the next generation of Nigerian innovators.

Future Africa and CcHub to Lead Implementation of High-Impact Initiatives

IHS Nigeria has partnered with two renowned programme managers—Co-Creation Hub (CcHub) and Future Africa—to implement incubation and accelerator programmes designed to groom startups, businesses, and young innovators.

Iyinoluwa Aboyeji, co-founder of Andela and Flutterwave and founding partner at Future Africa, described the hub as the “seed of a new generation of billion-dollar businesses.”

“I recruited Kwara State as my top recruiting ground for Andela, a company that builds and deploys talent all over the world,” Aboyeji noted.

He affirmed that the Ilorin Innovation Hub would help in creating sustainable infrastructure, with a focus on agriculture, energy, and digital connectivity.

“We are here to work with entrepreneurs to build globally scalable businesses. The billion-dollar businesses of the future will move up from here,” he added.

Stephanie Okpere, design lead at CcHub, reaffirmed the organisation’s focus on supporting the hub’s research and entrepreneurship initiatives.

“In the last 15 years, CcHub has worked with over 50,000 startups, and we have the expertise to drive innovation at this hub,” she said.

She outlined plans for mentorship, talent development, and partnerships with universities, ensuring that the hub will serve as a pipeline for young innovators into the global tech space.

Ensuring Technological Advancement and Sustainable Infrastructure

The Ilorin Innovation Hub is being built with cutting-edge infrastructure designed to support innovation at a high scale. Features include:

• 13,000-square-metre campus with a 3,000-square-metre indoor work and event space
• Capacity for over 1,000 concurrent users
• Dedicated co-working spaces, conference halls, and an IHS Lounge
• High-speed connectivity for seamless digital collaboration

With a focus on sustainability, the hub will be powered by a solar energy system comprising 681 units of 5-kilowatt solar panels, generating approximately 584 megawatts of energy—enough to power 200 three-bedroom flats.

Added to these, the facility will include 600 kilowatt-hours of battery energy storage, ensuring an uninterrupted power supply. This solar-powered system is projected to save over ₦2 billion in energy costs over time.

The hub’s cooling system, featuring 96 DS cooling units, will be solar-powered, with the capacity to sustain up to eight four-bedroom flats, significantly reducing its carbon footprint.

Recognising the challenge of infrastructure maintenance in Nigeria, the project team has developed a solid facility management strategy to ensure the hub remains in pristine condition for years to come.

Measures will include:

• Regular audits and assessments
• Comprehensive cleaning and equipment servicing
• Long-term sustainability planning

The official commissioning of the Ilorin Innovation Hub is scheduled to take place later this year.

The TowerCo is part of the IHS Holding Limited (NYSE: IHS) (“IHS Towers”) group, one of the largest independent owners, operators, and developers of shared communications infrastructure in the world by tower count.

This technology and innovation center, located in Ilorin, Kwara State, Nigeria, is an initiative of the Kwara State Government, built and equipped in partnership with IHS Nigeria, who are also operationalizing the facility.

Covering a land area of over 13,000 sqm, with seating capacity for over 1,000 users, the Ilorin Innovation Hub is arguably the biggest technology space of its kind in West Africa and considered a masterpiece of functional space and design architecture.

The facility has been designed and built as an ecosystem to help nurture creative talents, drive technological innovations, entrepreneurship, and overall economic growth across Kwara State in particular, and Nigeria in general.

It is aligned with President Tinubu’s Renewed Hope Agenda of investing in the digital economy to stimulate local industries, enhance competitiveness, increase productivity and provide millions of Nigerians with new skills, as well as long-term employment and wealth creation opportunities.

As part of their commitment, IHS Nigeria is working with two program managers, Co-creation Hub (CcHub) and Future Africa, to facilitate the rollout of programs aimed at empowering startups, businesses, and young innovators with the tools to succeed in the digital economy.

CcHub is a leading pan-African creative and innovation ecosystem enabler. They will design and implement sustainable models to help build capacity for innovation, support top innovators and startups in the region, and strengthen the innovation ecosystem, further helping attract and connect key players.

Future Africa is an innovation fund dedicated to supporting founders who are shaping Africa’s future.

They will oversee the implementation of three key programs: Advanced Technical Leadership Training, Corporate Innovation and Accelerator Program; and Ecosystem Development and Mentorship Initiative.

Through the above programs, IHS Nigeria and the Kwara State Government are aiming to help stimulate the growth of the technological ecosystem in Kwara State and across Nigeria.

Together, their vision is that the Ilorin Innovation Hub and its programs will help create over 10,000 direct and indirect jobs in Nigeria, focusing on digital skills, artificial intelligence, agricultural technology, and energy innovation.

This initiative also complements IHS Nigeria’s ongoing partnership with the Federal Ministry of Communications, Innovation and Digital Economy on the Three Million Technical Talent (3MTT) Learning Community, aimed at empowering three million Nigerians with critical digital skills.

In October 2024, the Hub invited young artists from Kwara State and across Nigeria to participate in an Arts Hackathon by submitting art works that resonate with the themes of innovation, creativity, and local community development.

The aim was to showcase the unique relationship between creativity and science. Ten artists, whose works were selected from over 250 entries, each received a cash prize of ₦500,000 and will have their artwork displayed in the Innovation Hub.

Mohamad Darwish, CEO, IHS Nigeria, commented,

“I am extremely proud of IHS Nigeria’s role in developing the Ilorin Innovation Hub. This marks another critical milestone in IHS’ efforts to improve the lives of people in our operating communities by supporting innovation, entrepreneurship, and overall wealth creation in Nigeria.

As Nigeria’s backbone of digital possibilities, and an enabler of mobile connectivity, we believe this hub will create opportunities for millions of Nigerians with brilliant ideas looking for the facilities, training, expertise, mentorship and funding support to turn their ideas into viable businesses. Businesses that will contribute to the overall socioeconomic upliftment of Kwara State, and Nigeria more broadly.

“We are optimistic that this facility will support the rise of additional unicorns in Nigeria in multiple sectors, highlighting the depth and resilience of Nigeria’s talent to compete in the global market, akin to how IHS, as a company with roots in Nigeria, has already demonstrated.”

She is an LLM graduate of Business Law and currently heads the legal and compliance team at Future Africa. 

Ifeoluwa has worked with over 50 startups giving her current role in a VC firm and in her capacity in the tech ecosystem.

TE: What actually led you to pick interest in startups?

Ifeoluwa Adepoju: I’ve always been drawn to startups because they’re like the underdogs with big dreams. Imagine this: a small group of people with a brilliant idea, working hard to turn it into something amazing. That kind of energy and determination is contagious.

Before I moved into the VC space, I have worked with many founders and their needs to get the right team, the right agreements, getting them ready to become investable, starts right from the formation of the company.

There’s this one startup I worked with early on. They had this revolutionary concept, and I got to be a part of their journey. We faced challenges together, including legal complexities, and celebrated victories.

Seeing them grow from a small idea to a successful venture was incredible, and it fueled my passion for helping startups thrive.

It’s like being part of a story where every small decision can make a huge impact. That’s why I love startups – they’re full of potential, surprises, and the thrill of making things happen.

TE: A lot of startups struggle to raise funds. What do you think is responsible for this?

Ifeoluwa Adepoju: It is one thing to have a great idea; it is another to tell your story. The impact of storytelling is great when it comes to storytelling. One thing that makes each compelling story about how their product or service addresses a real market need is crucial in attracting investor interest.

Investors are not just looking at numbers; they want to be captivated by a story that resonates with the problem the startup aims to solve.

When startups can articulate their journey in a compelling way, it humanizes the business, making it relatable and memorable.

The power of storytelling lies in creating an emotional connection, helping investors understand not just what the startup does, but why it matters. A well-crafted narrative helps startups stand out in a crowded market. It differentiates them, making them more memorable amidst numerous pitches.

Successful fundraising often starts with a captivating story that leaves a lasting impression on potential investors, compelling them to be a part of the startup’s journey.

TE: What are the things startup founders must bring to the table to convince VCs to make investment decisions?

Ifeoluwa Adepoju: Clear Vision and Mission: A well-defined vision and mission that communicates the startup’s purpose and long-term goals. VCs want to invest in founders who have a clear direction for their company.

Transparency and communication.

Coachable founders and Capable Team: A skilled and dedicated team with relevant expertise. VCs invest not only in ideas but also in the people behind them and people who are teachable

Traction and Milestones: Demonstrable traction and achieved milestones, showcasing that the startup has made progress and has the potential for scalability. This could include user growth, revenue, partnerships, or product development milestones.

Market Understanding: In-depth knowledge of the target market, including a thorough understanding of competitors, potential challenges, and the overall industry. VCs want to see that founders have conducted comprehensive market research.

Effective Storytelling: The ability to tell a compelling story. Founders should be able to communicate their journey, challenges faced, and how they overcame them. Storytelling helps create an emotional connection with investors.

Scalability Plan

TE: There is ongoing debate as to why VCs prefer to invest in a Deleware Corporation than an LLC. What is your take on that?

Ifeoluwa Adepoju: Registering a company in Delaware, whether as an LLC (Limited Liability Company) or a Corporation, is a popular choice for many businesses due to Delaware’s favourable business-friendly laws for startups.

LLCs are “pass-through entities,” meaning that profit (or loss) is passed through to the owners as income, and is taxable as such. VCs want no part of this as they are not investing solely to have any of the profits or losses of these businesses pass through to them.

Instead, VCs want to invest in C corporations, where the profit and loss are ascribed to the business and not the owners, allowing losses to be used to offset future revenues for tax purposes.

This does not mean that some VCs are not open to taking on these risks and there are other options available to the VCs as well which I am writing on and should be published soon.

TE: When is a startup due to have a board?

Ifeoluwa Adepoju: It is never too early or late. What matters is having the right members who have the same goal and passion as you. You can wait till you become big and still not

TE: This year we have witnessed some startups shutting down business/operations. Some due to financial mismanagement, economic situations, lack of skills. But for you, do you think there are foundational challenges with startups, especially in Africa?

Ifeoluwa Adepoju: Beyond the personal mismanagement by founders, where fundraising is sometimes viewed as an opportunity for personal financial gain rather than contributing to the company’s overall objectives, I’ve identified additional critical factors.

One major concern is the regulatory environment, which often lacks the conducive conditions necessary for a thriving business in many African startup ecosystems.

Furthermore, the engagement of shareholders and venture capitalists (VCs) post-investment is crucial. The lack of follow-up by investors can pose a significant challenge.

This emphasizes the importance of a robust board that includes experienced mentors. With the right board members providing guidance and mentorship, startups stand a better chance of navigating challenges and achieving scalable growth.

The round also included participation from Future Africa, Ventures Platform, Microtraction, Boleh Venture, Voltron Capital, Wuri Ventures, Afropreneur, and angel investments from African tech ecosystem leaders Shola Akinlade (Paystack), Odunayo Eweniyi (Piggyvest), Adia Sowho (MTN Nigeria), Akin Oyebode, and Seni Sulyman.

This raise will help accelerate the company’s plans to build a plug-and-play company incorporation technology, broaden its trademark registration technology stack, bolster its existing team of world-class talent and develop more research-led solutions.

Norebase is building Africa’s company and trademark platform that simplifies the start and scale processes for businesses in the continent and beyond.

Additionally, Norebase has launched Norebase Incorporation API, an API service enabling other companies to provide incorporation services to their own customers via their websites. By integrating with Norebase API, any company can provide its customer with a simple form, and the information filled on that form is automatically transmitted to Norebase to register a business on behalf of that customer. After incorporation, the business registration documents are also transmitted back through the API.

Norebase API enables businesses such as banks, credit bureaus, payment processors, vendors and any company who interact with registered businesses to eliminate any drop-off point in their product process, and eliminate the need to wait for customers to leave their website/app to register a business before using the service. Companies can provide this additional service to their customers without incurring additional operational costs. Norebase’s Incorporation API is currently available for incorporating business in Nigeria, USA and Kenya with additional markets being added overtime.

Launched in September 2021, Norebase is laser-focused on building a two-pronged platform that offers African and non-African businesses access to the African continent as one big market while creating a channel where African founders can access the international markets (such as the USA).

Using Norebase, established companies can expand to new locations while new businesses can be incorporated in any African country of their choice in just a few minutes. In addition, Norebase’s platform provides a single point for startup founders and entrepreneurs to register a company, get a bank account, get a virtual mailing address and even register a trademark and handle IP registration in any African country.

Commenting on Norebase’s growth ambitions, Tola Onayemi, CEO at Norebase, says, “Norebase is building a future where starting a business or expanding a business in any African country is as simple as clicking a single button, and we are deliberately building the single digital infrastructure and technology tools that will power trade across the continent.

Africa’s startup space is rightly attracting the global business world’s attention as a region with enormous potential, and we are thrilled to connect new and existing businesses with the means with which they can scale their business in and beyond Africa more seamlessly. The rapid acceleration of innovation across Africa and the growing attractiveness of new markets requires the know-how of a smoother cross-border expansion experience, and our team is the best at this.”

Norebase is also focused on ensuring the Intellectual Property of startups in Africa and international companies expanding to the continent are securely protected as they scale and navigate multiple territories.

The company has helped founders incorporate companies in Ghana, Kenya, South Africa, Nigeria, Rwanda, Senegal, Cote D’Ivoire, Togo, Tanzania, Egypt, Mauritius, and Burkina Faso etc. It also recently started offering incorporation services in the U.S. The company has delivered 100% month-on-month growth in transaction volumes for the last six months, with a 40% M-o-M growth in revenue during the same period.

Norebase is powering the growth ambition of several innovative companies so that innovators can focus entirely on their core business. This is reflected in Norebase’s clients like Brass, Nestcoin, Patricia, Edenlife, GetEquity, Orda, Kloudcommerce, Send.ng, Workpay, Sudo Africa etc

Tola Onayemi continued, “We are delighted to be joined by a stellar roster of experienced and strategic investors, whose expertise will play a key role as we scale the Norebase goal of being partners for set-up, compliance, regulatory needs for both cross-border expansions and local markets. Given our global and Africa-wide ambitions, we consciously ensured our investors came from across Africa and the world .”

Rena Yoneyama of Samurai Incubate added, “It is truly impressive how Norebase is designing a future where every business and individual can experience Africa as one market. Their team comprises some of the best minds on the continent, helping simplify the complications of launching in any African market, and we are excited to be part of their growth journey.”

The Norebase team is leveraging a stack of technology to drive their cause: “Unlocking an era of Africa-wide prosperity by enabling anyone to do business easily in any African market”. Africa’s combined GDP currently stands at $3 trillion and is projected to reach $29 trillion by 2050. With investment into the African tech startup space passing the $2Billion mark and projected to break records in 2022, Norebase is well-positioned to support entrepreneurs, founders, and businesses to start and scale across borders seamlessly and reach Africa’s 1.2 billion people.

The fund, which Mecho Autotech asserts to be oversubscribed by more than 300%, will enable the company to expand its multi-channel service capacity, engineering team, and marketing budget for B2C acquisition.

Investors in the seed round included Future Africa, HoaQ Capital, Cathexis Ventures, V8 Capital, Silver Squid and Tekedia Capital.

Founded by Olusegun Owoade and Ayoola Akinkunmi, Mecho Autotech has created a network of vetted in-house and third-party mechanics with the customer affordability (of businesses and retail customers) in mind.

The company has created a network of vetted technicians across 35 states in Nigeria to tackle the poor vehicle maintenance culture in the country. Added to this is the creation of an insurance plan that has an annual maintenance plan embedded, more or less substituting the after-sales package – automated maintenance plans for new cars – people with brand new vehicles typically get.

So far, Mecho Autotech has onboarded over 7,000 third-party mechanics across three workshops in Lagos servicing B2B customers: Shuttlers, Moove, Tolaram Group and Kobo. It charges about 15% commission fees –10% from service charges and 5% from spare parts charges.

The company is developing a spare parts value chain that has already served over 100 third-party mechanics and several large ticket inventory purchases for B2B customers.

Part of the seed money would go into expanding this capacity. It will also help scale Mecho Autotech’s mobile application, which it launched for its B2C customers last month. The two-year-old startup said it aims to reach 25,000 customers this year and charge them a monthly, quarterly or annual subscription fee.

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