HomeNewsEdo State Tech Startups Get $700,000 Boost from Co-creation Hub

Edo State Tech Startups Get $700,000 Boost from Co-creation Hub

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In a major boost to Edo State’s technology sector, Co-creation Hub (Cc Hub), a leading African technology innovation center, has announced a $700,000 investment initiative targeting tech startups in the state. This move is part of a broader effort to accelerate the growth of tech-driven enterprises in the region.

According to The Nigerian Patriot, This funding, announced in a statement on Friday, is set to be disbursed through Cc Hub’s Innovation Challenge and Support programs. Under these programs, 50 startups based in Edo State will receive substantial financial support to fuel their growth and innovation. Specifically, 30 startups are each set to receive $10,000, while an additional 20 startups will be granted $20,000 each.

This initiative is supported by the Bill & Melinda Gates Foundation and aligns with the Edo State Government’s efforts to strengthen the state’s digital ecosystem. The investment marks a significant step towards establishing Edo State as a leading hub for technology and entrepreneurship in Africa.

Dr. Bosun Tijani, Co-founder of Cc Hub and the current Minister of Communications, Innovation, and Digital Economy, highlighted the inclusivity of the programs. “We’re committed to fostering diverse and innovative tech startups. Our Inclusion-Focused Support Program targets underrepresented founders, especially women, while our Innovation Challenge Program is open to all tech startups with market-potential ideas,” said Tijani.

The deadline for applications is set for February 12, 2024. This initiative provides a unique opportunity for tech entrepreneurs in Edo State to gain not only financial support but also access to Cc Hub’s network of resources and expertise.

In 2022, the Edo State government reported an exponential rise in the number of tech startups and a surge in entrepreneurial activities. This growth has positioned the state to become a significant contributor to Africa’s $6.6 billion startup ecosystem.

The investment by Cc Hub is expected to catalyze further growth in the region’s tech sector. It represents not just a financial boost but also a vote of confidence in the potential of Edo State’s tech startups to innovate and compete on a global stage.

As the application deadline approaches, Edo State’s tech community is poised to take a significant leap forward, with the support of Cc Hub’s investment and the backing of the state government and international partners like the Bill & Melinda Gates Foundation.

This development is a crucial step towards realizing the vision of transforming Edo State into a leading startup ecosystem in Africa, ready to make a substantial impact on the continent’s technology landscape.

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