IHS Nigeria launches Innovate Hub to support entrepreneurship in Nigeria

IHS Nigeria commissions low-cost hub enterprise in support of Nigerian Micro, Small and Medium Enterprises (MSMEs) and freelancers.

IHS Nigeria launches Innovate Hub to support entrepreneurship in Nigeria

In the competitive world of business, Small and Medium- Scale Enterprises (SMEs) are often faced with numerous challenges that impede sustainability and development. In Nigeria, entrepreneurship is becoming one of the largest sought out ventures.

However, high cost of office space, little to no access to power and internet access coupled with other barriers to doing business in Nigeria have prevented promising businesses from living up to their potential.

The United Nations' Sustainable Development Goals (SDG) 2030, mandates in SDG 8 that organizations must promote sustained, inclusive, and sustainable economic growth, full and productive employment and decent work for all. IHS Nigeria, through the recent unveil of its Innovative Centre supporting MSMEs and freelancers is leading this mandate in Nigeria.

The initiative is a partnership between Versecom Limited, a technology and IT services provider, IHS Nigeria, who is financially sponsoring the project, the Lagos State Parks and Gardens Agency (LASPARK) and Lagos State Employment Trust Fund (LSETF). The center is a low-Cost Hub enterprise which provides cheaper workspaces for small scale entrepreneurs and freelancers to freely develop and sustain their businesses.

Located in Alimosho, Lagos, the Innovate Centre (Energy and Environment Hub) is open to anyone and currently has a 600-seat capacity. To provide more support for energy, environment and sustainability, IHS Nigeria will be tailoring community events and incentives to Energy and Environment start-ups at the hub.

The hub has been modelled as an energy laboratory with state-of-the-art equipment such as transformer winder, oscilloscope and component racks which assist in eliminating barriers impeding innovation in the respective fields. At N1000/a day, the hub offers users a 50% t0 80% price discount in comparison to market rates, making access easier for start-ups within the idea to pre-seed stages.

Speaking on the initiative, IHS Nigeria’s Chief Corporate Services Officer, stated, “At IHS Nigeria, innovation is one of our 4 core values and this is the lifeblood of our organization. We therefore constantly seek new, improved ways to deliver our products and services while embarking on innovative projects.

"It is therefore only natural that we act on this core value and extend its impact to local communities where we operate. Businesses are increasingly becoming more ambitious, bolder and courageous in their approach to social impact, diversifying the ways that they can maximize their value to society whilst meeting commercial objectives.

"We are confident that this revival will allow an increased collaborative effort between the public and private sectors resulting in the achievement of increased developmental goals. The Energy Hub is definitely a step in the right direction of walking the talk.”

The Innovate Centre which is currently situated at Rafiu Jafojo Park Shasha, Alimosho, Lagos was completed on the 7th of June 2021, with a formal launch on the 29th June, 2021.

With this project, IHS Nigeria, one of the world’s largest providers of shared telecommunications infrastructure continues to reinforce its commitment to strengthening the Nigerian economy.

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