BUSINESS

Tech Incubator iHub Pumps Sh1.3 Billion in Startups, Eyes Regional Expansion

The company was founded in 2010 and has been at the forefront of accelerating Kenya’s startup economy

Share
iHub expands operations in east africa
Since its inception, the incubator has invested  in startups across Africa from seed funding to Series A, pooling both their own and other partners’ resources.
Share

Africa’s Pioneering tech incubator – iHub – is pushing for greater Pan-African collaboration in Africa’s technology, creative, and entrepreneurship sectors by unveiling a new hub in Nairobi after 14 years of operations in Kenya.

Its Nigerian parent company, Co-Creation Hub (CcHub,  first entered the Kenya through the acquisition of iHub Nairobi in 2019, establishing the accelerator’s presence in four countries: Rwanda, Namibia, Nigeria, and Kenya.

“Since the very beginning, iHUB has been a place where ideas come to life and communities are built,” says Ojoma Ochai, the Managing Director of iHub. “Through the years, we have seen innovators, technologists, creatives, and entrepreneurs thrive. As we move forward, our goal at CcHUB Group remains the same: to be Africa’s leading support system for creative and technology entrepreneurs, helping them create solutions to enhance African prosperity, while nurturing the community.”

The company was founded in 2010 and has been at the forefront of accelerating Kenya’s startup economy. Among their key initiatives is elimu,  its gamified ed-tech platform incorporating numeracy, literacy and other skills as part of the broader strategy in using technology to improve the learning outcomes in the education sector. Since its inception, the incubator has invested over $10 million (about Ksh1.3 billion) in startups across Africa from seed funding to Series A, pooling both their own and other partners’ resources.

> Safaricom Offers Software Engineering Scholarships to Youth With Disabilities

Locally, and in partnership with The Mastercard Foundation, iHub is supporting 36 startups through their acceleration and post-acceleration programme spanning a year while also investing $100,000 in non-dilutive capital into these firms. Their most recently concluded partnership was in collaboration with Safaricom, where they supported startups like Chaptr and Chumz through their Spark Accelerator program.

Ms Beryl Oywer, the Country Lead for NABU and a beneficiary of the fellowship, recollects the experience being a transformative and offering opportunities for collaboration with fellow startups. “Direct linkages with strategic partners, increased visibility through participation in industry events and panel discussions have all been very vital to our success,” says Ms Oywer.

Regionally, the accelerator also operates a Sub-Saharan ed-tech fund in which these startups get up to $250,000 and become part of a year-long venture studio helping them in their product development as well as establishing the right frameworks for their rollouts to the critical masses.

The tech giant is soon expecting to launch a hub dubbed Janta TechHub

In line with strengthening its presence locally, the tech giant is eyeing to expand its footprint across Africa, soon expecting to launch a hub dubbed “Janta TechHub” a joint venture between the Togolese government and CcHub.

“It will be a CcHub managed hub – the hub belongs to the government of Togo, but we are going to set it up and run it for them,” Ochai the Managing Director of CcHUB said. The bold move underscores CcHub’s unwavering commitment to supporting the continent’s innovation and entrepreneurship sectors.

The organization’s next phase promises enhanced research, leveraging collaborations through co-working spaces, extended resources, and pan-African connections to accelerate innovation across industries, from fintech to education, health, the creative economy, and beyond.

> National Bank of Kenya Shakes Banking With 142% Profit Growth

Written by
BILL YAURA -

Bill Yaura is a Correspondent for Business Today. He can be reached on email: [email protected]

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Follow Us

Related Articles
Vivian Nalianya - Vivanet Solutions
BUSINESSENTERPRISE 101

Hellen Nalianya: Big Shift From Accounts Led to Instant Success in Tech World

After graduation, Hellen Nalianya interned at an audit firm for nine months...

Cisco NTT Data partnership
BUSINESSTECHNOLOGY

Cisco, NTT DATA Partner to Provide Simplified Access to 5G Connectivity

Cisco, worldwide technology leader, and NTT DATA,  a global digital business and...

Kenafric Manufacturing Ltd
BUSINESS

Silent Acquisition Set to Shake Kenya’s Stationery Business

The Competition Authority of Kenya has approved the proposed acquisition of the...

Amsons Group Managing Director Edha Nahdi Acquires Bamburi Cement
BUSINESSLEADERSHIP

Bamburi Cement Shareholders Seal Ksh22.5B Buyout

Amsons Group, the pan-African manufacturing and energy conglomerate, has finally sealed the...