The Lagos Innovates Hub Loan Program is now open to applications! This initiative offers low-interest loans to co-working spaces and innovation hubs to help expand, upgrade, and enhance their operations.
Eligible hubs can access funding to:
- Improve infrastructure (internet, power, etc.)
- Expand physical space and capacity
- Launch new programs and services for startups
Target Audience:
- The program is specifically designed for operators of coworking spaces, incubators, and innovation hubs located in Lagos State.
Purpose:
- The loans are intended to support the expansion and improvement of existing facilities and services, as well as the potential for establishing new locations.
Funding Focus:
- The loans can be used to upgrade spaces with state-of-the-art resources, expand capacity to meet growing demand for flexible workspaces, optimize services by providing cutting-edge technology, and connect with a network of high-performing hubs.
Attractive Terms:
- Lagos Innovates offers Hub Loans with a low interest rate for a four-year period.
Community Focus:
- Lagos Innovates emphasizes a community-focused approach, recognizing the vital role of these spaces in catalyzing growth opportunities for startups and entrepreneurs.
Eligibility:
- To be eligible, businesses must be registered in Nigeria, have their headquarters in Lagos State, operate as a coworking facility, incubator, or innovation hub in Lagos, and have at least one shareholder or director who is a Lagos State resident and compliant with personal tax requirements. Additionally, the business must be tax-compliant.Â
