Co-creation Hub also known as CcHUB has announced the appointment of Damilola Teidi, the former chief executive officer of defunct ridesharing platform GoMyWay, as the director of its Incubation program.
Teidi, who is taking over from Tunji Elesho, left GoMyWay in 2017 after the ridesharing platform announced it was closing down over lack of investors’ fund.
Prior to working with GoMyWay, she worked with the incubation unit at CcHUB, as a business analyst, to help provide support to startups.
“This year, I re-joined CcHUB as its director of Incubation where I oversee all startup focused programs in the incubation unit: Pre-incubation for start-ups in their idea stage, incubation program for start-ups that have gained traction and the accelerator programs,” Teide said in a personal post on Medium and made available to BusinessDay. “I am excited about the work ahead in supporting African tech start-ups across our different programs to build global sustainable businesses.”
CcHUB had in January announced it was commencing a new 12-month incubation program. According to the tech company, the program takes a hands-on approach to helping entrepreneurs execute a working business model and grow a sustainable business.
Selected entrepreneurs will receive equity financing of up to $25,000 to run their operations during the program. Another follow-up capital of up to $250,000 from the Growth Capital fund will also be directly accessible to the start-ups.
Other benefits include; office space for up to 6 team members, high speed internet, meeting rooms; access to experienced entrepreneurs and industry experts via mentorship; access to CcHUB’s network of corporate partners; access to investors for funding post-incubation; and $15,000 Amazon Web Services Promotional credit and more products from partners.
Teidi who heads the program, stated that CcHUB was revamping the incubation program in order to be more intentional about the support the company gives to start-ups with emphasis on growth, distribution and access to funding.
To participate, start-ups should have gained some traction and is generating revenue and has a solution that addresses a clear need or pain point. The program is open to startup teams from anywhere in the world looking to grow their businesses in Africa, particularly Nigeria.