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New programme launched to accelerate impact-driven tech companies in Africa
The leading technology innovation center in Africa, Co-creation Hub (CcHUB) has launched the CcHUB Syndicate.
The Syndicate is an investment vehicle that aims to encourage investment firms with High Net Worth Individuals (HNI) to co-invest along with CcHUB for as little as $5 000 into innovative companies across Sub-Saharan Africa.
CcHUB Syndicate launched to encourage investment to tech-driven African startups
The objective of CcHUB Syndicate is to drive growth for early-stage startups in the African market that offer valuable products and services.
In addition, the Syndicate aims to increase the number of innovation-driven startups in the African market by offering a network of potential investors and partners.
In an official press release, Bosun Tijani, CEO of CcHUB and iHUB, comments on the launch of the investment programme.
“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”.
The technology innovation center, CcHUB celebrates its 10th anniversary having successfully supported and contributed to the acceleration of Africa’s economic growth through the application of science and technology.
The CcHUB Syndicate is an extension of the technology innovation center’s main objective which is to build a platform structured for companies to further support the economic growth of Africa.
CcHUB displays support for the communities who believe in the capability of technology transforming the African continent.
The CcHUB has a network of over 650 startups across Africa who received support from one of Co-Creation Hub’s innovation-focused programmes and interventions.
Over 7 300 direct jobs were created by CcHUB’s portfolio companies and more than 35 000 indirect jobs have been offered through portfolio companies’ value chain.
In addition, reports indicate that over $1-million has been invested in direct startups, and over $61-million invested by CcHUB in external funding.
Read more: Western Cape launches tech ecosystem initiative
Read more: Programme launched to strengthen tech ecosystem in Western Cape
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