Co-creation Hub Acquires iHub
iHub is East Africa’s most reputable and prolific tech centre
Bosun Tijani continues as CEO across both locations
7 months after launching Design Lab in Rwanda
Nigeria’s leading technology innovation centre, Co-creation Hub acquires Kenya’s iHub for an undisclosed amount. The deal means iHub’s team has become part of CcHub’s broader central strategy and support network. However, IHub would continue to retain its senior management structure and name.
CcHub’s CEO and Co-founder, Bosun Tijani would be CEO across both locations.
As part of the acquisition, Cchub is expected to make key recruitments in innovation consulting, people management, community support and programme management. This is aimed at helping it strengthen its pan-african network and mobilize its far-reaching network, resources and relationships to accelerate the development of entrepreneurship and technology innovation in Africa.
As CcHub continues to its mission to connect entrepreneurs, public bodies and technologists across the continent, the acquisition of East Africa’s most reputable and prolific technology centre is the next step in that direction.
This is coming just seven months after CcHub expanded its horizon to Kigali in Rwanda with the launch of Design Lab – the premier creative space in Africa which focuses on the design of products and technology innovation.
CEO of CcHub, Bosun Tijani stated that “We are long-time admirers of collaborators of iHub – a world-class community of developers, entrepreneurs and business people who have been instrumental in growing Kenya’s extraordinary technology ecosystem.”
“CcHUB’s mandate is to build a formidable innovation ecosystem with a deeply rooted network, cultivating strategic partnerships and practical industry know-how that can support entrepreneurs in building thoughtful, relevant and scalable solutions. We believe we can only do this if we are intentional and proactive in how we scale and grow our reach, not only across Africa, but also internationally. This is the reason behind our acquisition of iHub and we continue to be bullish in our combined efforts in creating hundreds of thousands more opportunities for businesses across Africa”.
About Co-creation Hub
Cchub was founded in 2011 with partnership from international companies such as Oracle, Google for start-ups and Facebook. Organizations such as Omidyar Network and Ford Foundation are among its partners.
It is Africa’s first open living lab and pre-incubation space, serving as home to social entrepreneurs, tech hubs in Africa, technologists, impact investors, government bodies and more.
Often described as one of the most prolific tech hubs in Africa, the Lagos-based hub has built a great community of over 14,000 people. It has also incubated and provided support to a portfolio of over 120 early-stage ventures, providing solutions to social problems with technology.
Examples of projects it has worked on include Riby, BudgIT and WeCyclers.
In 2012, CcHub played a crucial role in bringing together stakeholders to deliberate and work on ideas that led to the emergence of one of Africa’s most organic technology clusters in Yaba, Lagos.
On the other hand, iHub was launched in 2010 to serve as home to international-known companies such as Ushahidi and BRCK, as well as like Eneza Education, Zayride, Optimetriks and Taimba. It has seen over 500 companies receive business support services, 100+ of which have gone through incubation and accelerator programs.
Managing Director for iHub, Nekesa J. Were, said “Over the past 9 years, the iHub has been a catalyst for regional tech acceleration and a role model for innovation hubs across emerging markets. To-date, over USD40m has been raised by iHub startups in early and growth stage financing and iHub portfolio businesses have contributed over 40,000 jobs to the East African economy. Their products have impacted millions.
“CcHUB has an unrivalled track record of building out a dynamic tech ecosystem which extends past Nigeria. Similar to us, they have been committed to delivering impactful support services, at scale, supporting tech and business communities and driving social capital for economic prosperity in Africa. In short – they share our mission to make businesses and the business environment on the continent, better for all. We are very excited to work with them to support entrepreneurs transforming our communities”