Edo State, located in the south-south region of Nigeria, is on a mission to become a leading destination for tech innovation and entrepreneurship in Africa.
The state government, in partnership with Co-creation Hub (Cc Hub), a technology innovation center based in Lagos, and the Bill & Melinda Gates Foundation, has launched two programs to support and fund 50 tech start-ups based in Edo State.
The programs, which are open for applications until 12 February 2024, are the Inclusion-Focused Support Program and the Innovation Challenge Program. The former targets start-ups with underrepresented founders and teams, such as women, while the latter is open to all start-ups with innovative ideas and products. The selected start-ups will receive between $10,000 and $20,000 each, depending on the program, totaling $700,000.
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Strengthening digital solutions ecosystem
The aim of the programs is to strengthen the digital solutions ecosystem in Edo State, and to encourage innovation and entrepreneurship among the youth. Edo State has a population of over six million people, and a vibrant culture of art, history, and commerce. The state is also home to several institutions of higher learning, such as the University of Benin, the Ambrose Alli University, and the Benson Idahosa University.
The state governor, Godwin Obaseki, has expressed his commitment to transforming Edo State into a digital economy, and to creating opportunities for the youth to develop their skills and talents. He said:
“We are determined to make Edo State the tech hub of Nigeria, and to leverage the potential of our young and creative population. We are partnering with Cc Hub and the Gates Foundation to support and fund start-ups that can solve the challenges facing our state and our continent, and to create jobs and wealth for our people.”
What the Cc Hub is saying
Cc Hub, which was co-founded by the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, is one of the leading technology innovation centers in Africa. It has supported over 200 start-ups across various sectors, such as education, health, agriculture, and governance. It has also expanded its operations to Rwanda and Kenya, and has partnered with global organizations, such as Facebook, Google, and the World Bank.
Cc Hub said that it was excited to work with the Edo State government and the Gates Foundation to foster a culture of innovation and inclusion in Edo State. It said:
“We are offering investment support to 50 start-ups through two programs – the Inclusion-Focused Support and the Innovation Challenge Program for diverse start-ups with underrepresented founders and teams (women) and the Innovation Challenge for all tech start-ups with innovative ideas and products, offering funding for those with market potential. “Dive into opportunity with our Inclusion-Focused Support Program: 30 selected start-ups, each receiving $10k USD for growth and innovation! “Innovate, transform, and thrive! with our Innovation Challenge Program: 20 start-ups, each awarded $20k USD to drive game-changing ideas forward!”
Aligning with the Federal Government’s policy
The programs in Edo State are in line with the Investment in Digital and Creative Enterprises (i-DICE) program of the Federal Government, which aims to promote entrepreneurship and innovation in the digital technology and creative industry sectors. The program, which is spearheaded by the Office of the Vice President, is planning to invest $617.7 million in Nigerian start-ups, in collaboration with international bodies, such as the French Development Agency (AFD), the African Development Bank (AfDB), the Islamic Development Bank (ISDB), and the Bank of Industry (BOI).
The program is expected to train two million young people, and to provide them with access to financing for the creation of innovative businesses and start-ups. The AFD is contributing 100 million euros (equivalent to $116 million) to the program.
Edo State is poised to become a hub for tech innovation in Africa, as it leverages its human and natural resources, and its strategic partnerships, to create a sustainable and inclusive digital economy. The programs launched by the state government, Cc Hub, and the Gates Foundation are a testament to the vision and ambition of the state and its people.
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Other successful tech start-ups in Edo State
Edo State is home to a growing number of tech start-ups, thanks to the support and funding from the state government, Cc Hub, and the Gates Foundation. Some of the successful tech start-ups in Edo State are:
mPharma: A start-up in health technology that oversees the inventory of prescription drugs for pharmacies and hospitals across seven African nations, including Edo State. In 2019, it raised $17 million during a Series B financing.
A fintech start-up called FlexFinTx offers digital identity solutions to underbanked and unbanked people in Nigeria and Zimbabwe. It was awarded $10,000 in funding after winning the 2020 Ecobank Fintech Challenge.
Sokowatch: An e-commerce startup that lets unofficial businesses place orders and make payments using a mobile app or SMS It works in Nigeria, Tanzania, Kenya, Rwanda, and Edo State. It raised $14 million in a Series A financing in 2020.
Digihub NG is a tech hub that provides Edo State-based tech entrepreneurs and innovators with co-working space, training, funding, and mentorship. Since its inception in 2018, it has fostered more than 50 start-ups.
Edo Innovates: A state-owned tech hub that gives access to infrastructure, resources, and networks for start-ups in Edo State. Over 200 start-ups in a variety of industries, including agriculture, health, education, and government, have benefited from its backing.
