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Startups Selected into Cc-HUB’s 2018/2019 Incubation Program Revealed

CcHUB, the first open living lab and pre-incubation space in Nigeria welcomes selected companies into its 2018 Incubation Program.

Upon the call for applications for their revamped incubation program in January, 2018, the search has been to looking for committed and ambitious teams with technology solutions that have gained some traction, are generating revenue, addresses a clear need/want and has the potential to scale.

CcHUB reports that it received over 500 applications from across the continent and on the 17th of April, Nigeria’s Vice President, Prof. Yemi Osinbajo announced the four companies selected into the incubation program. Over the next 12 months, CcHUB says “we will be working with each company and using our resources to help them gain significant traction, access funding and guide them on the path to building a sustainable business.”

Below are the successfull startups that went through the rigorous selection process:

Identity Tech – a cloud-based service that gives its clients access to an array of tools for customer experience Management which includes: visitor management, queue/service management, customer survey management and a biometric solution for staff attendance, thereby eliminating the use of pen and paper, and making it possible to analyse data in real time and over a long period of time.

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Track Your Build – a mapping, GIS and data management company that provides clients with the information they need to build new assets or extend the lifespan and usefulness of existing ones. The company uses drones, satellites, cloud computing and analytics for smart infrastructure management. Track Your Build employs a hands-on and on-site approach to providing their clients the support they need.

E-Estates – a mobile application that enhances living experiences for residents staying at gated communities, putting convenience at their fingertips. They help estate owners better coordinate their affairs and overall interaction/communication with the residents. The app features include emergency services, guest management, real-time vending for electricity bills and handyman services.

Doctoora – an infrastructure as a service company that increases access to quality healthcare by providing healthcare professionals with fully serviced medical facilities, to rent on a pay-per-use basis. The company has 3 locations in Lagos – Opebi, Ogudu and Surulere with a capacity to deliver 430 clinic hours per week.

The Co-Creation Hub continues that “each of these companies will receive $25,000 in funding, free workspace for their teams, $15,000 AWS credit and other partner credits, financial management support, business support, HR Management support, product development advisory, mentorship, access to corporate partners & industry experts and possible follow-on capital of up to $250,000 from Growth Capital.”

For startups in their idea phase, application for CcHUB’s pre-incubation program is now open and you can apply here.

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Got any African tech tip or news article, send it to editor@thespiritedhub.com.

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NEWS

Nestlé Partners with Nomanini to Boost MSMESs Across the Eastern & Southern Africa Region

Informal retail Micro, Small and Medium-Sized Enterprises (MSMEs) across the Eastern and Southern Africa Region (ESAR) are set to receive a technological and operational boost for their businesses, thanks to Nestlé, Nomanini and Standard Bank.

Announcing the project today, Bruno Olierhoek, Chairman and Managing Director of Nestlé ESAR, emphasised that the region’s economic growth is interdependent on strong partnerships amongst various stakeholders, including the informal retail sector. “As one of the fastest-growing consumer retail markets in the world, Africa is full of economic potential. This potential lies firmly within the informal retail sector, which constitutes the vast majority of the retail market in Africa. To give impetus to this positive outlook, we have leveraged Nomanini’s technology to unlock business opportunities, drive economic growth, create jobs and improve ways of doing business.”

The vast majority of retail transactions in Sub-Saharan Africa are cash-based and occur in informal channels, according to IFC research. Many retail MSMEs are therefore unable to create the digital footprint necessary to access the credit they need to keep their shelves stocked with high-quality essential items. Additionally, many MSMEs across Africa have been negatively affected by disrupted supply chains, inter-trade, as well as reduced consumer sales, which have resulted from Coronavirus lockdown regulations. “Being able to support the creation of wealthier and healthier communities by providing working capital to retail MSMEs is a real win for all,” said Adrian Vermooten, Chief Innovation Officer at Standard Bank Group.

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“With Nestlé as one of our newest clients, we are able to address these and other key business challenges and transform the informal retail ecosystem through an innovative solution. Through our platform, Nestlé is able to provide much-needed access to sufficient working capital so that retailers can stock a wide range of high-quality products. This capital is offered in the form of physical stock rather than cash,” shared Vahid Monadjem, CEO and Founder of Nomanini.

He added, “Our solutions are designed with MSME retailers at the core so that we can support, rather than disrupt their businesses. We know that while many of these MSMEs are un- or under-banked, they would qualify for credit if they were. By using our technology and data, our partners can help MSMEs access credit responsibly.”

Nomanini’s platform analyses the sales history of an MSME to create a credit score. If approved, the retailer is offered an uncollateralised loan in the form of stock from Nestlé. MSMEs are given access to the working capital they need to grow their businesses without having to open a bank account or visit a bank branch. When it is time to repay the loan, they do not need to go to the bank or even have a bank account to make an electronic transfer. 

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Following the successful implementation of the trial of concept in Zambia, Nestlé is set to expand the solution into other countries, benefitting thousands of MSMEs across the region.

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