Joint Hub Fund Gets Financial Boost

June 3, 2015

The Joint Hub Fund, which supports tech hubs across Africa, recently received a boost when Indigo Trust and Hivos injected 100 000 British pounds and 100 000 euros respectively towards supporting the fund.

The Fund brings together the DOEN Foundation, Hivos and Indigo Trust in an initiative aimed at catalysing the continent’s technology start-up ecosystem. Hivos has the responsibility of managing and running the fund.               

“This is the largest award Indigo has made since we started supporting technology and development in 2010 and we hope that it can be used to catalyse the growth and development of Africa’s burgeoning tech hub space,” said Loren Treisman, Executive Director of Indigo Trust.

“It is our belief that technology hubs offer great promise in using technology to address some of the social and economic challenges faced by the communities in which they operate.”

A key objective of the Fund is to support technology hubs in Africa that enable aspiring entrepreneurs with a social mission to develop their business plan, identify potential investors and turn ideas into reality. It is also expected that the Fund will increase the quality and quantity of applications being developed in Africa.

To date, four technology hubs have received a grant for an initial one-year period: ActivSpaces in Cameroon, HiveColab in Uganda, iSpace in Ghana and KINU in Tanzania. Through the grants, the tech hubs will be expected to facilitate collaboration among entrepreneurs and the creation of applications and solutions that solve societal challenges.

“The DOEN Foundation believes in a green, creative and inclusive society because the world is full of committed entrepreneurs eager to develop sustainable, cultural and socially-engaged initiatives. With the grants provided in this collaboration of the Joint Hub Fund Programme, we hope to give a positive boost to social entrepreneurship in Africa,” said Nina Tellegen, CEO of the DOEN Foundation.

The Joint Hub Fund team is currently finalising the process of providing seed funding to selected tech hubs across the continent.

“With this partnership, we hope to boost the development of tech ecosystems in Africa, and by supporting young innovators, entrepreneurs and technologists, we are also playing an important part in promoting the growth of the continent,” said Tanya Lubbers, Director of the Hivos Regional Office in Southern Africa.