In the world of technology hubs, innovation thrives and entrepreneurial spirits soar to shape the future. Tech hubs as they are often called have profound impacts on both entrepreneurs and society as a whole.
From driving partnerships and knowledge-sharing to accelerating economic growth while driving social change, hubs serve as fertile grounds for innovation, creativity, and numerous possibilities.
In this edition of hub feature, we explore the vibrant entrepreneurial landscape of Ebute Metta Yaba in Lagos. Our conversation with Igwe Patrick, Head of Business and Program Manager at ICANBOI Innovation Hub, offers valuable insights into the hub’s profound impact on reshaping the entrepreneurial scene and shaping the future of our communities.
Its state-of-the-art yet highly functional co-working facility, with top-notch security that gives entrepreneurs a secure atmosphere, is perfect for fostering the development of new ideas and championing technologically innovative solutions to the problems facing the country leveraging technology.
ICANBOI provides its members with co-working spaces, private offices, and first-rate corporate meeting and training rooms with high-speed internet, a steady power supply, a gaming area for leisure activities and other essential infrastructure requirements that appears to be lacking in some companies.
The tech hub was a result of a collaboration initiative between ICAN and the Bank of Industry (BoI) in support of the institute’s entrepreneurship agenda. “ICAN-BOI was created to be a platform to actualize and emphasize the growing focus on technology and skill acquisition through empowerment.”
According to Igwe, hubs are the playground for birthing innovative solutions that thrive. “At ICANBOI, we have created a playground that allows for partnerships, collaborations, and possible investments.”
On the state of innovation/ entrepreneurship in Lagos, Igwe said that the state is widely regarded as one of Africa’s most vibrant and dynamic cities, largely driven by innovation and entrepreneurship.
“Over the past decade, there has been a significant increase in the number of startups and entrepreneurial ventures in Lagos.
Despite facing significant challenges such as poor infrastructure, limited access to funding, and regulatory obstacles, Lagos has continued to attract a growing number of entrepreneurs and investors.”
According to Igwe, the Lagos State Government has also been very supportive of entrepreneurship, launching initiatives such as the Lagos Innovates program, which provides funding, mentorship, and networking opportunities for startups.
“In addition, there are a growing number of incubators, accelerators, and co-working spaces that provide entrepreneurs with the resources they need to launch and grow their businesses.”, Igwe added.
On recommendation for improving Nigeria’s technology, innovation and entrepreneurship ecosystems, Igwe agreed that the ecosystem needs a multi-faceted approach that encourages collaboration, funding and infrastructure.
“Collaboration is essential for the growth of technology, innovation, and entrepreneurship to thrive. I would also encourage more partnerships between institutions, private companies, and government agencies.”, Igwe said.
For Igwe, the biggest challenge for him as a hub manager is in getting both public and private institutions to consistently engage in activities and programs over a long period of time as this involvement can impact the motivation of members and the overall community.
“Overall, managing a hub can be a rewarding experience, but it also requires a lot of hard work and dedication to ensure that the community is thriving and that all members are getting what they need from the space.”
However, all isn’t gloomy as Igwe shared his excitement about building a strong and inclusive community that gives the community members a sense of openness which ultimately leads to collaborations within the community and even outside of the community.
Stating further, Igwe commented that aside from the co-working space, ICANBOI, co-owned by both ICAN and the Bank of Industry, also provides its members with access to knowledge and funding opportunities.
“We are excited about supporting entrepreneurs, which is why we are set to announce the launch of our incubation program for startups to take their business from zero to 1 and also gain grant funding.”
“We also want to ensure that in our programs, startups are both equipped with the knowledge and technical skills, which is why we are set to launch the ICANBOI Scale series, which will equip founders with the knowledge and technical skills to continue building.”
ICANBOI is also actively working to increase the participation of more women and that is why its programs focus on training and mentorships to equip these entrepreneurs with the tools and resources to scale and thrive.
Hubs require funding support, but for Igwe, the government can assist Hubs by playing a significant role to help promote awareness of Hubs and their activities, which can help to attract talent, investment and support from a wider audience.
Don’t miss important articles during the week. Subscribe to techbuild.africa weekly digest for updates.
