Facebook’s Nigerian hub helps startups raise $400,000 in grants, investments

Within one year of its launch in Nigeria, Facebook’s NG_Hub has helped about 15 startups and students raise over $400,000 in investments and grants.

Created as part of Facebook’s ongoing commitment and investment in growing the startup ecosystem, and in partnership with CcHub, NG_Hub, is a multi-faceted space, which connects and bring together developers, startups and the wider community to collaborate, learn and exchange ideas.
With a number of expert training and events with partners across Nigeria, undertaking in the hub and externally, the aim is to equip individuals and businesses to grow.

The hub trained over 50,800 small and medium businesses (SMBs) in digital skills across 20 states in Nigeria, delivered 526 events with over 11,490 attendees including programmes such as AR/VR meetups, FbStart Accelerator Programme, Facebook Community Leaders Community meetings (CLCs), Developer Circle gatherings, among others.
According to Facebook, which directly supported businesses in 11 different industries gave seven per cent support to agriculture; nine to catering; seven to education, five to retail, four to business, nine to digital services, 13 to content creators and journalism, and the largest chunk of 29 per cent to fashion.

Speaking on its one-year anniversary, Head of Public Policy, West and Central Africa, Adaora Ikenze, said: “I’m proud of the incredible impact that NG_Hub has had in its first year, and continues to have on the lives of young Nigerians. We remain committed in deepening our engagement, increasing skills development and supporting the next set of innovators, tech entrepreneurs, start-ups, in our collective bid to change the face of technology and grow the economy.”

Commenting on the partnership Founder/CEO of CcHub, Bosun Tijani, added: “We’re glad about the tremendous impact Facebook’s investment in NG_HUB has had in such a short period and the ecosystem is already seeing the fruits of this commitment. We’re committed to working with Facebook to position NG_HUB as a major platform that drives smart application of technology innovation for economic prosperity across the region and beyond.”

Recall that at the launch in Lagos on May 22, 2018, the Vice President, Product Partnership, Facebook, Ime Archibong, said the launch was about what the platform can do to enhance the great development in the ICT sphere of the country.

Archibong revealed that so much investment went into the project, and stressed that the NG_Hub would service the entire ICT ecosystem, including, SMEs.

From his perspective, Facebook’s Manager, Developers Programme, Emeka Afigbo, said the hub will provide opportunities for businesses to be formed and developed.

Afigbo, who revealed that lots of SMEs rely on Facebook to drive their businesses, noted that most businesses thriving today were built through the social media platform.

According to him, as part of drive to develop the ecosystem, Facebook started the process of training 50,000 young people in digital skills so as to be able to leverage technology to stimulate economic growth.