€4.6 million for tech social start-ups in Nigeria

Co-Creation Hub, one of the first start-up incubators in Nigeria, is marking its fifth anniversary by launching a €4.6 million (1 billion naira) social innovation fund. This Growth Capital fund is aimed at social tech enterprises solving local problems across various sectors of the Nigerian economy.

Quartz reports that the Growth Capital Fund is supported by impact investment firm, Omidyar Network as well as local based partners, Venture Garden Group and the Bank of Industry. The fund will provide funding from $25,000 to $150,000.

Co-Creation Hub has gained a lot of experience in funding local tech enterprises and start-ups. In the past five years, Co-Creation Hub has been home to over 50 tech start-ups. Among them is WeCyclers, a waste recycling start-up which won a $50,000 prize from the Case Foundation, run by AOL co-founder Steve Case.

Based in the heart of Lagos’ Yaba area, the Hub has housed start-ups, providing founders with grants and support, hosting tech events and offering partnerships.

Further reading on qz.com

Image by Russell Watkins/Department for International Development

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