Lagos and four firms launch low-cost Hubs for startups.

Four firms are partnering with two agencies of the Lagos State Government to launch a low-cost hub initiative to reduce the cost office space and starting a business, to encourage startups, MSMEs and freelancers in the country. The project was launched to ensure capacity building and competitiveness among startups and entrepreneurs.

Versecom Limited, IHS Nigeria, Leadspace by Passion Incubator, Cisco Nigeria, Lagos State Parks and Gardens Agency (LASPARK), and Lagos State Employment Trust Fund (LSETF) would build five innovation centres, including: energy and environment hub, financial inclusion centre, smart city and health initiative, agricultural hub; and logistics and mobility innovation centre. The hubs would be located in various locations in the state.

CEO, Smart city infrastructure company, Versecom Limited, Mr. Timilehin Odusina, said, “This hub offers a seat at N1, 000 per day, 50 percent to 80 percent lower than current market rates. The hub is targeted at the idea stage – pre-seed startups and freelancers around Lagos,”

The initiative has been described as the first of its kind in Nigeria, and some of the hubs will be officially launched on November 1, 2019.

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