By Juliet Umeh
Technology innovation centre in Africa, Co-creation Hub, CcHUB, has launched an innovative funding platform, CcHUB Syndicate, to encourage growth of early-stage ventures in Africa.
The platform is an investment vehicle empowering investment groups or firms, High Net Worth Individuals (HNI) all over the world to co-invest (for as little as $5000) in the most innovative companies across Sub-Saharan Africa along with CcHUB.
According to the company, the Syndicate aims to accelerate the growth of early-stage ventures delivering value accretive services and products to the African market at scale.
It said the goal is to increase the number of disruptive and innovative companies with the capacity to create impact at scale for the continent by garnering support through it’s network of investors and partners.
It also explained that the launch is coming on the back of the company’s 10-year anniversary celebrations which further gives credence to its mandate to accelerate the application of science and technology for the economic growth of the continent.
It said: “CcHUB has supported and accelerated the growth of a community passionate about the role of technology in transforming Africa by unearthing talent and creating an enabling structure for companies.
“Across Africa, CcHUB boasts of a rich network of over 650 startups who can trace their roots to Co-Creation Hub’s innovation-focused programs and interventions.
“More than 7,300 direct jobs created by its portfolio companies, 35,000+ indirect jobs have been created by portfolio companies through their value chain, $1,000,000+ invested in direct startups by CcHUB and over $61M+ in external funding attracted by the startups in their portfolio.
Speaking on the launch of the investment program, CEO CcHUB and iHUB, Bosun Tijani, said: “CcHUB syndicate is an innovative funding platform which comes at a critical time when the world stands on the precipice of change. These times require companies with innovative solutions to critical problems in our societies.
“The syndicate seeks to solve the subsistent consumption that exists in diaspora remittances, by redirecting it towards investments in high-growth, impact-driven technology companies across Africa”.