A new co-working space and technology accelerator, V8, has officially opened in Lekki, Lagos. It is a community and collaboration platform that offers professional support services to entrepreneurs, start-ups and small businesses especially those in the Digital Technology space.
In a statement, the management said V8 will provide services such as on-demand workspaces, mentorship, capacity building, business strategies and funding. Members of the co-working space will have access to secure enterprise grade internet and wifi, uninterrupted power supply, meeting/board/training room, break out area to receive guests and a communal kitchen with tea & coffee making utilities. These will all be provided as a service, saving V8 members the significant capital costs if procured on a stand-alone basis.
Created by Tobi Oke, former Head of Intel Capital Africa, and Ugo Okoye, CEO of iConcepts, V8 Africa is birthed from several years of actively creating conducive environments and strategies for new technology businesses and benefits heavily from the experiences of its founders in identifying, enabling and accelerating start-up growth across Africa. Between the two founders is 30+ years’ experience in investing, delivering world class technology solutions and contributing to the ecosystem enabling innovation within Nigeria and Africa.
Oke said “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 startup 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 CAPEX costs. At V8, we are passionate about helping businesses overcome these obstacles by offering efficient and affordable infrastructure as a service.”
Okoye added, “We don’t see ourselves as competition to other co-working spaces; we see ourselves as part of the ecosystem in Nigeria enabling entrepreneurship, innovation and collaboration.”
In addition to providing co-working space to its members, V8 will also incubate new technology companies with its maiden accelerator program kicking off in Q1, 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.