Co-working space V8 Africa ready to incubate start-ups

V8 Africa, a new co-working space and technology accelerator in the heart of Lekki, Lagos has thrown its doors open for tech start-ups looking.

During a media tour on Wednesday, 16 September, 2016, the founders of V8 Africa Toby Oke, former head of Intel Capital Africa and Ugo Okoye, CEO of iConcepts, told BusinessDay that the hub will serve as a community and collaboration platform providing professional support services to entrepreneurs, start-ups and small businesses especially those in the digital technology space.

The V8 Africa provides many services and start-ups that take up space in the facility can look forward to gaining access to secure enterprise grade internet and WiFi; uninterrupted power supply; meeting, board, and training room; break-out area to receive guests and a communal kitchen with tea and coffee making utilities.

Toby Oke told BusinessDay “Higher than usual infrastructure requirements and costs are needed for businesses to be successful in our part of the world. A significant number of businesses have not been able to move past their start-up phase due to these infrastructure hurdles which range from limited access to funding to the lack of very basic infrastructure.

“As Nigeria steps boldly into a more technology-driven economy, we see more local businesses embracing co-working communities, especially in this period of infrastructure unavailability and capital expenditure (CAPEX) costs. At V8, we are passionate about helping businesses overcome these obstacles by offering efficient and affordable infrastructure as a service.”

Ugo Okoye pointed out that the existence of other hubs in the ecosystem actually strengthens the V8 Africa proposition.

“We do not see ourselves as a competition to other co-working spaces; we see ourselves as part of the ecosystem in Nigeria enabling entrepreneurship, innovation and collaboration,” Okoye said.

Aside providing co-working space to its members, the V8 will also incubate new technology companies with its maiden accelerator program kicking off in the first quarter of 2017.

“This is a key part of the company’s vision in addition to the provision of infrastructural services in its co-working space. V8 intends to invest in the best and brightest African technology companies through mentoring, funding and the provision of infrastructure. Despite its focus on technology, the company is looking to build a community that encourages a broad range of African talent to grow and flourish,” Oke said.

FRANK ELEANYA