Connecting Africa’s Tech Stories to the World. Connecting Africa’s Tech Stories to the World.
Connecting Africa’s Tech Stories to the World. Connecting Africa’s Tech Stories to the World.

Month: July 2025

48 Articles
Okra Co-founders
News

Okra Closes Operations, Commits to Returning Investor Funds

On May 20, 2025, Nigerian open banking startup Okra announced it would be shutting down operations five years after launching with a bold...

ByPeace Sandy2 months Ago
How Insecurity Fuels the 'Japa' Syndrome: Impact on Nigeria’s Entrepreneurial Ecosystem
Opinion & Analysis

How Insecurity Fuels the ‘Japa’ Syndrome: Impact on Nigeria’s Entrepreneurial Ecosystem

In recent years, Nigeria has experienced a significant surge in emigration, popularly referred to as ‘Japa,’ a Yoruba term meaning ‘to flee’ or...

ByPeace Sandy2 months Ago
Why Building Multimillion-Dollar Companies in Nigeria Is Rare – Challenges and Opportunities
Startups

Why Building Multimillion-Dollar Companies in Nigeria Is Rare: Challenges and Opportunities

Nigeria, Africa’s largest economy and most populous nation, boasts a vibrant and dynamic entrepreneurial ecosystem. From tech startups to manufacturing ventures, the country...

ByPeace Sandy2 months Ago
Hive Incubator Office
News

Akure’s brightest business ideas start small; The Hive incubator is betting on them

For the entrepreneur in Akure with a plan for a better food stand, a neighbourhood cleaning service, or a hyper-local delivery app, The...

ByPeace Sandy2 months Ago
Figure 4: Visitation by Zina Alfa (Head of Startup and Content at ColorinTech, UK) and AI4Africa to The Hive Hub The Future is Bright
News

How The Hive Incubator is Transforming Akure’s Startup Ecosystem

“The Hive Incubator is proof that big dreams don’t always need big cities; sometimes, they just need big hearts,” says Folajomi Adegbulugbe, CEO of...

ByPeace Sandy2 months Ago
News

Nurturing Entrepreneurs: How the Hive Incubator is Empowering Nigeria’s Next-Gen Entrepreneurs

The Hive Incubator is a vibrant hub for innovation and entrepreneurship proudly rooted in Akure, Nigeria. Committed to nurturing the entrepreneurial spirit, Hive...

ByPeace Sandy2 months Ago
Introduction Entrepreneurship in Nigeria is often perceived as a golden path to financial independence, innovation, and economic transformation. Many envision a land filled with endless opportunities, where anyone with a great idea can launch a thriving business. However, the reality of running a business in Nigeria is quite different. Entrepreneurs face numerous structural, financial, and operational challenges that can make or break their ventures. This article explores the contrast between the idealized perceptions and the ground realities of Nigeria’s entrepreneurial landscape, highlighting the role of incubators, particularly The Hive Incubator in bridging this gap. Thoughts: The Idealistic View Nigeria, with its large and youthful population, is often considered a hub of entrepreneurial potential. Many young Nigerians believe that starting a business is a straightforward path to success. The popular narrative suggests that with a unique idea, a small amount of capital, and social media marketing, anyone can build a profitable enterprise. Global success stories of Nigerian entrepreneurs in fintech, e-commerce, and agribusiness fuel these beliefs. Reality: The Challenges Entrepreneurs Face Despite the promising outlook, Nigerian entrepreneurs encounter several barriers, including: 1. Access to Funding: Many small businesses struggle to secure startup or growth capital due to strict loan requirements and limited venture capital access. 2. Infrastructure Deficits: Unstable electricity supply, poor road networks, and unreliable internet services increase operational costs. 3. Regulatory and Bureaucratic Hurdles: Complicated business registration processes, multiple taxation issues, and unclear policies hinder business growth. 4. Market Penetration Difficulties: High competition and consumer trust issues make it hard for startups to scale. 5. Economic Instability: Currency devaluation, inflation, and fluctuating policies affect business sustainability. How The Hive Incubator Bridges the Gap The Hive Incubator plays a crucial role in addressing these challenges by providing tailored support for entrepreneurs through: • Capacity Building: Training programs that equip entrepreneurs with business skills, financial literacy, and digital marketing expertise. • Access to Funding Opportunities: Linking startups with investors, grant programs, and alternative funding sources. • Networking and Collaboration: Creating a thriving community of innovators, mentors, and industry leaders. • Infrastructure Support: Providing workspaces, internet access, and operational tools to help businesses grow efficiently. Conclusion While entrepreneurship in Nigeria presents significant challenges, it also holds immense potential for those who navigate it strategically. The Hive Incubator is dedicated to transforming the entrepreneurial landscape by offering practical solutions that help startups thrive. With the right support, Nigerian entrepreneurs can turn their ideas into sustainable, high-impact ventures.
Community

Nigeria’s Entrepreneurial Landscape: Thoughts vs. Reality

Entrepreneurship in Nigeria is often perceived as a golden path to financial independence, innovation, and economic transformation. Many envision a land filled with...

ByPeace Sandy2 months Ago
Why Every Startup Needs a Mentor
Startups

Why Every Startup Needs a Mentor

The startup journey is often unpredictable and filled with challenges, such as securing funding and achieving sustainable growth. Mentorship is vital for many...

ByPeace Sandy2 months Ago
Start Smart: Tools, Tips, and Support for Founders
Apps & Tools

Start Smart: Tools, Tips, and Support for Founders

Startups aren’t just building a product; they’re building a learning engine to determine the right solution. Only about 10% make it through the...

ByPeace Sandy2 months Ago
Pictures from the last founders breakfast
Events

Inside The Hive Hub’s Founders Breakfast: Fueling Ideas and Conversations That Matter

At The Hive Hub, great companies don’t just start with funding; they often begin with good conversations, and sometimes, over plantain and coffee....

ByPeace Sandy2 months Ago
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