Nigerian innovation centre and seed-fund, Co-creation Hub (CcHub) has announced the acquisition of Nairobi based tech incubator, iHub, just seven months after expanding into Kigali, Rwanda.
The acquisition was announced by the CEO of CcHUB, Bosun Tijani. He revealed that the name of the hub will remain the same but they will now receive support from the central CcHub.
“The names will stay the same. iHub will remain iHub. It is a strong brand but iHub will now be supported from the central CcHub, which will help them strengthen what they do,”Bosun Tijani, CEO of CcHUB
Although the cost of the acquisition remains undisclosed, Tijani said CcHub will finance the deal out of its real-estate project to build a new 10-story innovation centre to replace its Herbert Macaulay Way building in Lagos.
CcHub and iHub will come under one management as Tijani becomes CEO of both organisations, while Nekesa Were continues as iHub’s managing director.
According to Tijani, iHub’s existing programmes would remain the same but CcHub would use the Kenyan hub addition to extend its footprints in education, healthcare, and governance.
About 7 months ago, CcHub collaborated with the government of Rwanda to open its Design Lab in Kigali, focused on innovating impact solutions in health, education and governance. With the recent acquisition of iHub, CcHub now has access to the pipeline in Nigeria, Kenya and Rwanda to expand its investment scope.
Tijani believes that CcHub’s extended reach will help strengthen their ability to support innovation and boost 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,”Bosun Tijani, CEO of CcHUB
CcHub was also named lead partner by Google for its Pitch Drive, an African startup tour to Europe and Asia.
According to GSMA statistics, the number of innovation spaces, accelerators and incubators number about 618, making hubs a focal point for startup formation, training and IT activity in Africa.
iHub’s Nekesa Were explained that both tech incubators are committed to supporting tech communities to drive economic prosperity in the continent.
She said for over 9 years, iHub has been a catalyst for regional tech acceleration & a role model for innovation hubs across emerging markets. With 500+ startups, $40m+ raised by startups, 40,000 jobs created to the EA economy.
Since Tijani launched CcHUB in 2011, the Hub has expanded into a pre-incubation space with a community of over 14,000 people. It has also provided support to a portfolio of over 120 early-stage ventures like Lifebank, Riby, BudgIT and WeCyclers.
Tijani believes that science and tech hold the key to unlocking Africa’s future potential.
Based on the combined size of their membership networks, the volume of tech-related programs, startups incubated, partnerships and global visibility, iHub joining CcHub is arguably one of Africa’s top tech hubs.
The union forges a direct innovation link between two of Africa’s most active markets for VC and startup formation — Nigeria and Kenya. It also serves as a major focal point for startup formation, training, and IT activity on the continent.
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