“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 The Hive Incubator. These words encapsulate the essence of this startup incubator and technology hub located in the heart of Akure, Nigeria. With its innovative approach, The Hive is quietly but effectively transforming the local entrepreneurial landscape, empowering early-stage businesses and startups to thrive.
A Holistic Approach to Incubation
Launched in Ondo State’s capital, The Hive Incubator offers a comprehensive suite of services tailored to address the unique challenges faced by startups. Entrepreneurs benefit from:
- Up to ₦1 million in cash investment.
- Mentorship and business coaching.
- Access to a state-of-the-art technology hub.
- Market access and networking opportunities.
The 2024 Cohort 1 featured four promising startups: Stashwise, NativeBowl, Ecofems Recycling, and Frankz Footwear. Reflecting on the program’s initial phase, Folajomi remarked, “The first cohort taught us significant lessons about the ecosystem and the need to educate entrepreneurs about investments and equity.”
The Hive’s unique approach extends beyond incubation. The organization has incentivized or partnered with over 10 businesses to amplify entrepreneurship and job creation in Akure. These partners include Alles Charis Gas, Anmut, Cosmo and Uni Services, Pristin Capital, Venture Reg, Jowis Studios, Mustard HR, Digits Analytics, SquareFarms Africa, and Gasify Technologies.
Ecosystem Impact
The Hive’s impact is visible through its support for local entrepreneurs and its ambitious plans to scale its investments. Currently supporting four startups, the incubator aims to expand to 60 businesses by 2025. According to George Ayomipo, The Hive’s Programs Manager, “We’ve seen significant interest in our incubator, with calls for partnerships and a growing pool of applications. But for us, it’s still Day One.”
The Hive Incubator accepts applications every quarter, with the first intake for 2024 scheduled in February. Entrepreneurs in Akure are encouraged to apply. [Insert link here]
Oluwagbami Favor, Founder of NativeBowl and a member of Cohort 1, shared her experience:
“The Hive Incubator is more than just a physical space; it’s a community that helped me put structure to the business idea I had.”
Similarly, Tobi, Co-founder of Stashwise, emphasized the value of the incubator:
“The Hive Incubator has been instrumental in my journey as an entrepreneur. The mentorship, resources, and supportive community have been invaluable.”
Beyond incubation, The Hive strengthens the ecosystem through initiatives such as:
- Empowering local entrepreneurs to drive job creation and economic growth.
- Hosting events like the Launch Lab series, weekly webinars, and X-spaces to connect startups with funding, mentorship, and market access.
The growing recognition of Akure as an innovation hub is underscored by visits from dignitaries like Zina Alfa (Head of Startups and Content at ColorinTech, UK) and representatives from AI4Africa.
The Future is Bright
As The Hive Incubator continues to grow, it is positioning Akure as a vital player in Nigeria’s tech and entrepreneurial landscape. With plans to scale, support more startups, and expand its initiatives, The Hive is creating a legacy of collaboration, innovation, and economic growth.
For entrepreneurs looking for a supportive ecosystem to bring their ideas to life, The Hive Incubator is proving that Akure is not just a location—it’s an opportunity.
For more information
Visit website – www.thehiveincubator.com
hello@thehiveincubator.comYou can also follow them on Instagram, X, or LinkedIn.
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