Co-creation Hub (CcHUB) is launching an EdTech accelerator program, called the EdTech Fellowship Program with $15 million to support 72 African startups, from Nigeria and Kenya within the next three years, which will increase the impact of edtech startups across and to also address learning challenges organised by tech solution founders.
The program aims to accept 24startups in Nigerian and Kenya yearly (12 each) and the startups will receive $100,000 initial capital points to the accelerator spending over $7 million on just investments. However, Bosun Tijani, the CEO of Kenya’s IHub, said the remaining money will be used to handle other resources in the accelerator which include personnel costs as well as providing support capital to startups as they progress.
Tijani told TechCrunch that the follow-on capital will come from a $ 50 million EdTech fund CcHUB plans to launch within the next 12-24 months; an anchor investor has committed an initial $ 5 million while adding that the innovation hub is in talks with telcos like Safaricom and MTN to explore arrangements that could see them become not only investors in the fund but also distribution partners for tech solutions in the Fellowship’s portfolio.
Co-creation Hub founded by Bosun Tijani and Femi Longe is an innovation Centre that is devoted to accelerating the application of social capital and technology for economic prosperity. CcHub support companies, and individuals that are interested in solving problems with technology and they help to bring their ideas or product to life.
TechCrunch report that the firm, accelerator program will support and simplify the impact of EdTech startups across Africa, as well as support founders offering tech solutions that will address learning innovation in the educational sector.
TechCrunch report also reveals that the Sub-Saharan region has the most children and youth out of school, with about 98 million children and young people excluded from education which include those in school, the quality of education across all levels, from K-12 to tertiary.
CcHub is one of the financially sustainable innovation hubs in Africa that has supported over 50 Nigerian startups and in March 2018, it supported Stanbic IBTC Bank which launched Blue Lab innovation.
It is clear that CcHub has been investing in and supporting startups, hence support like this to the educational sector will go a long way as we see that African education is still not where it should be
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