Nigeria’s social innovation centre, Co-Creation Hub (CcHUB) has officially launched its Diaspora Challenge, through which it aims to put a stop to the brain drain conundrum by investing in Africa-focused tech solutions by UK-based Africans.
The challenge aims to engage scientists, entrepreneurs and innovators from the diaspora community in the UK to source scalable business solutions to social challenges in Africa.
Applications for the challenge have opened already – it will close on 30 June – and early stage startups with solutions in three categories, fintech, energy and education, have been invited to apply.
Six finalists – two from each category – will be selected by a panel of esteemed judges with each getting incubated at CcHUB for nine months and receiving US$15,000 to fund prototype development.
The startups that are able to demonstrate sustainability and innovation will go on to receive a US$250,000 seed investment from Growth Capital, CcHUB’s social innovation fund dedicated to investing in early stage startups creating next gen infrastructure. It currently has ₦280 million (US$889,596) in its coffers.
“We have long wanted to build stronger tech community connections between the UK and Africa in order to increase Diaspora community involvement. CcHub is a social innovation hub – we innovate and build to address social problems, and we want to facilitate development-focused dialogues and attract the best talent to help us in our mission,” said Bosun Tijani, CcHUB’s co-founder and CEO.
He added, “The CcHub Diaspora Challenge is the starting pistol to engaging, mentoring, incubating and investing in Africans in the UK who can help ‘build Africa’ alongside us.”
The challenge was launched at Facebook HQ in the UK on 6 May 2017. The event featured talks, Q and As, a cocktail reception, networking and musical performances from Nigeria’s Bez, Cobhams Asuquo and singer-songwriter Bumi.
Photo Credit: Lagos Biz Academy.
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