BY CHIDIEBERE NWANKWO
Co-Creation Hub (CcHUB) has announced, on Friday, the closure of application to its Enrich In Africa Nigeria Learning Expedition scheduled to hold from November 6 to 11, 2023.
The learning expedition to Nigeria is a program that aims to connect African and European innovators as well as ecosystem players to the thriving startup ecosystem in Nigeria for market exploration. Through the learning expedition, the innovators, entrepreneurs, trade agents, researchers, individuals, investors, and ecosystem players will gain Nigeria’s local market context, networks, and explore investment opportunities. Residents in Nigeria, however, do not qualify for this programme.
According to the organisers, the objectives of the expedition include:
- Empowering entrepreneurs to explore the Nigerian market for business and market expansion/entry opportunities.
- Providing insight into local business support structures available in Nigeria.
- Establishing connections between entrepreneurs and organisations that offer business expansion support.
- Fostering relationships between entrepreneurs and local innovators, investors, researchers, and corporations.
Establishing Nigeria as a viable ground for investment, a statement from the organisers noted: “Nigeria, with a population of 216 million, is currently the largest economy in Africa, with one-third of the population between the ages of 15 and 35. UNFPA predicts that by 2025, the country will have a median age of 18 and a life expectancy of 55 years and that more than half (55%) of its population will live in cities. According to data from the World Bank as of 2021, 55% of the population are active internet subscribers in Nigeria. This indicates a growing community of individuals with a keen interest in technology who are prepared to adopt new technological advancements and innovative products as they become accessible.”
It further disclosed that Nigeria’s startup ecosystem’s growth is driven by a large market, widespread use of technology, and a strong culture of entrepreneurship, while weilding a vast market for startups due to its growing middle class and urbanisation. “This presents businesses with significant opportunities to expand and attract investors. In addition, Nigeria’s strong entrepreneurial culture, which is characterised by a large number of young and talented individuals pursuing innovative ideas, provides a solid foundation for the expansion of the startup ecosystem.”
With a reported valuation of $9 billion, Nigeria’s entrepreneurial landscape has produced five of Africa’s seven unicorns, namely Flutterwave, Jumia, Opay, Andela, and Interswitch, demonstrating its early leadership in terms of scale and investor appeal.
The ENRICH in Africa Nigeria project will among other activities, host a networking dinner spotlighting the ENRICH in Africa project, with local innovators, investors, agencies, and partners. It will also present participants with a tour of organisations critical to the Nigerian startup and innovation ecosystem, offering the opportunity to meet with key players, and visit to a local business trade fair or expo during the expedition.
With 12 years of experience spearheading the innovation space in Nigeria, CcHub, Nigeria’s leading innovation center, is ideally positioned to equip entrepreneurs and ecosystem players with the tools, networks, and knowledge to penetrate the Nigerian market successfully.