How to Transform Ideas>Passion to Business
How to Transform the Nigerian economy
By eccoHUB

14/02/2017

Calling all young innovators and entrepreneurs – eccoHUB’s Call for Ideas is now open!

eccoHUB (powered by ecco solutions) is an innovative incubation platform for start-ups, and young entrepreneurs, transforming ideas to sustainable ventures that solve real Nigerian social-economic problems. eccoHUB is currently incubating the development of more than 10 innovative Start-ups solving social-economic challenges in Nigeria.
Will the next golden idea come from you?

You can submit an innovative business idea that solves a real Nigerian problem to eccoHUB ‘Transform Ideas-Passion to Business‘ for up to N500, 000 in total seed funding investment including hub support services, networks and market entry support to get you kick-started.
The aim of the Idea>Passion-To-Business is to encourage-incubate ‘local entrepreneurs’ and the development of Nigerian centric solutions for real Nigerian problems, focusing on 3 critical areas – Education (e-Learning), Medical-Healthcare Management (Service Delivery), and e-Governance (IGR Improvement and Service Delivery).

Submit an Idea

Ideas should be submitted by email to incubatemyidea@ecco.com.ng or walk-in to eccoHUB at 11 Okunola Abass New Bodija Ibadan Oyo State on or before 7 April, 2017. Ideas will be assessed by a panel, and those whose ideas are selected will be invited for an interview. Consequently, market viable ideas that meet the SMART criteria will be accepted into eccoHUB incubation program and the opportunity to receive seed funding-investment value of up to N500, 000
ecco solutions believe that the collective efforts of all progressive stakeholders in the Nigeria social-economic renaissance (young entrepreneurs, innovators, business leaders, technocrats, subject matter experts, government agencies, SME/businesses, academia, civil societies, NGOs, multi-national organizations, etc.) who bring their resources in knowledge, creative talents, skills, assets and experience to play can co-incubate solutions to social-economic challenges faced by the average Nigerian.
SMART Criteria for selection of Ideas:

S- Simple, specific and clearly defined social-economic benefit(s)
M- Measurable (Implemented in phases with measured timeline)
A-Achievable (Realistic solutions within the available resources)
R-Result oriented (Clearly stated end-results to ‘measure’ success)
T-Timely (Market-Ready. Target customers’ ability, willingness and readiness to pay)

5 tips for creating innovative solutions:

1. Identify and understand the problem(s): observing the environment, infrastructure, culture and lives of people by being there
2. Solve ONE clear problem: focus on one problem and not many at a time, conduct basic feasibility
3. Think creatively ‘without a box’: start big, use constraints as a filter and find the simplest solution.
4. Identify a service gap: is there a service that isn’t being provided or not being provided to a satisfactory manner?
5. Deliver value or benefits to the ‘target market’: what are the benefits for people using the end product; does it improve a person’s life? Does it improve or speed up process? Does it reduce cost?

About eccoHUB
eccoHUB (powered by ecco solutions) is an innovative incubation platform for start-ups, and young entrepreneurs; transforming ideas to sustainable businesses empowered to solve real Nigeria social-economic problems. eccoHUB leverages on the collective resources of all stakeholders in the social-economic renaissance of Nigeria, (business leaders, young entrepreneurs, innovators, investors, technocrats, developers, subject matter experts, government agencies, SME/businesses, academia, media, civil societies, NGOs, multi-national organizations, etc.) who bring their resources in knowledge, creative talents, skills, assets and experience to the platform, to co-incubate ‘ideas’ into business solutions-solving Nigeria’s social-economic challenges. This is the value proposition of eccoHUB. Visit eccoHUB at 11 Okunola Abass Way, New Bodija Ibadan or www.ecco.com.ng/eccohub for more information.