MobiQube Joins Wennovation Platform

Mobile platform application developer and indigenous social networking operator, MobiQube Nigeria Limited recorded a milestone when it officially became the newest member of the Wennovation Platform on August 15th, 2011. MobiQube was represented by Chief Executive Officer, Mukhtar Oyewo; signing on behalf of LoftyInc was Wole Odetayo, Managing Partner.

MobiQube have a number of products in the pipeline, including Yarnable: a micro-discussion social site focused on Africa currently undergoing major revamp after MobiQube late May 2011 takeover. Due for release soon are beta versions of FoneRecharge and GreetingCards, as well as suite of free-apps for various smart phone platforms. Major development of the suite is already ongoing at the Hub facilities where MobiQube's top flight team are working towards a mid fourth quarter release in time for the holiday season. 

The Wennovation Platform is one of three flagship programs being run by the Wennovation Hub, the other being WennoConsulting and WennoCamps, focused on offering robust support to start-ups with products in advanced development or in the market. MobiQube joins PrimeCoHall within this program, as well as the three legacy companies for which LoftyInc have always provided ongoing support since 2008. 

LoftyInc & MobiQube sign the dotted line...

Dr. Wole Odetayo reaffirmed at the signing that, "For the Wennovation Hub, this new member is particularly synergistic with our focus on mobile application development or linked companies in 2011; coming off the intensive training  phase of WennoCamp, organized in partnership with MIT-AITI for mobile application development at the University of Ibadan in early August". That training being a precursor for the WennoCamp incubation phase which will soon take off at the Hub. 

In the next few weeks, LoftyInc will partner closely with MobiQube to ensure timely and effective release of products in the fourth quarter, while helping the MobiQube team identify strategic options to enhance the company's viability. LoftyInc will also gain one board sit as a result of this strategic addition to our portfolio firms.  

Wennovation Day as MIT-AITI Trains Nigeria's Next Tech Entrepreneurs

Next Generation Afropreneurs?

It was a day full of Wennovation and potential "wennovators", on July 13 at the site of MIT-AITI ongoing training of top notch mobile application programmers on the campus of the University of Ibadan. The program which began in earnest in June, devoted a full day to a compendium of speakers from the LoftyInc operated Wennovation Hub.

LoftyInc's Michael Oluwagbemi & Wole Odetayo 

First, during the morning session LoftyInc Partners- Wole Odetayo and Michael Oluwagbemi, and Hub Operating Director, Ayo Akinrotimi introduced the concept of Wennovation. Through the interactive session, attendants were familiarized with the opportunity of a lifetime which will see at least two teams qualifying into the incubation program at the hub to be known as Wennovation Camp starting in September, 2011. The introductory session which was lively and well received, was followed up with an introduction to the concept of Business Process and Legal Aid by Barrister Kamar Raji a seasoned legal practitioner

Top Notch Consultant, Niyi Sanuth Discusses
 Bureaucratic Survival Strategies

The afternoon session focused first on bureaucracy and strategy of navigating the complex web of government regulations, rules and procurement. Led by the insights provided by business process consultant, Mr. Niyi Sanuth- the session was riveted with relevant questions on how to operate within a large public sector led economy focusing especially on strategies that will be useful to start-ups to survive in this arcane world of rules.

The day's session ended with riveting expose by Michael Oluwagbemi on Apps Monetization and Financing Alternatives for Small Growing Businesses in Nigeria. An afternoon of engaging discussions, questions and hopefully recruitment of the next generation of Wennovators began thereafter.

The exciting part of the day were discussions surrounding some exciting projects that are being developed by MIT-AITI participants, two of which will eventually be admitted into the WennoCamp program. Projects ranging from emergency locator phone app to geo-locators as well as mobile job finders, messaging and social congregation platforms were among interesting projects these young minds are working on at the MIT-AITI lab. Read more about these exciting projects

Barrister Raji Discuss Legal Options for Start-Ups in Nigeria

The MIT-AITI program will come to a close in early August, when winners scheduled to join the WennoCamp program will be chosen at an August 2nd meet at Ibadan.

• Invenio
• TING MOBILE JOB FINDER®
• Compass®
• EasySoft
• NaviGate
• Pluss

LoftyInc & MIT-AITI Collaborate to Float Mobile Apps Start-Ups in Nigeria

Press Release on Wennovation Hub’s Collaboration with MIT-AITI

LoftyInc Allied Partners Limited, the operators of Nigeria’s premier business incubator- The Wennovation Hub- are pleased to announce a new collaboration with Massachusetts Institute of Technology’s Africa Information Technology Initiative (MIT-AITI).

The signing event where the memorandum of understanding (MoU), codifying the relationship between the two entities, was held on Wednesday, June 22nd  2011 at the Wennovation Hub – Plot C, Obasa Road, Ikeja-Lagos. Mr. Soji Awe of MIT represented the MIT-AITI program with Wole Odetayo (Managing Partner) & Ayokunle Akinrotimi (Associate) representing LoftyInc Allied Partners Limited.

Under the terms of the agreement, LoftyInc will provide some facilitators and materials specifically focusing on business incubation for the six-week pioneer training and mobile application technologies’ product development program of MIT-AITI in Nigeria beginning on June 21st through July 29th, 2011. In like manner, LoftyInc will also send representatives to serve on the project panel to award honors to top developers during the MIT-AITI program being held at the University of Ibadan’s (UI) computer science department.  More than thirty students and future entrepreneurs will be in attendance.

MIT-AITI's Soji Awe signs MoU on Wednesday, June 22

LoftyInc's Wole Odetayo Signs MoU at Signing Ceremony

Top market oriented mobile application developers will be selected by LoftyInc from the MIT-AITI program at UI, to graduate onwards into the pilot Wennovation Hub program to be known as WennoCamp. One of the key backers of the program is Google Africa.

The four weeks of WennoCamp incubation program will be held on site at the Wennovation Hub, Lagos; and will be focused exclusively on product refinement and business development. During this period, the student developers will be immersed with a team of their choice, supported by top WennoCamp linked geeks to unobtrusively develop a business around their initial project ideas built during the MIT-AITI program. 

CEO mentors and intensive product trouble shooting sessions are amongst the exciting sessions planned during their four week stint which will come to a close by pitching to potential seed investors organized by LoftyInc.

Successful Wennovators through the WennoCamp will be provided access to:

·        Ultra-Modern office space and complimentary broadband connection with full office support services for  3 months following their successful completion of the incubation program

·  Mentors – both technical and business types experienced in operations and development

·         Funding of up to $25 000 through a pioneer network of small investors being built by LoftyInc

·         Small seed grant (up to $1000 in kind) to register their business and begin marketing

·    The network of LoftyInc consultants in legal, financial and strategic advising that provide reduced fee-for-services to Wennovation linked firms

Speaking yesterday from Houston, Texas, Wennovation Hub Program Director and Serial Afropreneur, Idris Ayodeji Bello said “This collaboration is a small but important step in our journey of establishing a Wennovation Village in Nigeria, which will compete with the likes of Silicon Valley in the US, in terms of the quality of innovation and venture funding to support such. It is also a testament to our belief in the concept of wennovation (collaborative innovation), and we look forward to future collaborations with similarly-aligned organizations in Nigeria, and the Diaspora”.

AITI is a multidisciplinary group of the Massachusetts Institute of Technology (MIT) that promotes development in Africa by cultivating young technology entrepreneurs. AITI develops curriculum materials, software technologies, platforms, and networks that enable African undergraduate students to innovate in the area of information and communication technologies (ICTs). Since 2000, AITI has sent nearly 100 MIT instructors to teach over 1200 African students in five countries, resulting in the creation of African businesses and the addition of course offerings at our partner universities. http://aiti.mit.edu/

LoftyInc Allied Partners Ltd. is a business development company founded in 2008 to specifically focus on supporting innovative entrepreneurs and businesses. LoftyInc specializes in start-up business and project incubation in West Africa. LoftyInc unique business incubation model is implemented on a platform jointly initiated with the Africa Leadership Forum: the Wennovation Hub. LoftyInc supports over half a dozen domestic start-ups and three early stage projects sponsored by domestic and international clients. www.loftyincltd.biz  www.wennovationhub.com