AfriLabs-Briter Bridges Innovation Ecosystem Report​


HUB A hub is a centre, structure or network comprising of all actors supporting entrepreneurial ventures or innovation. Cities are also oen defined as hubs when they represent important nodes for business and invesment. ACCELERATOR An accelerator is a structure that offers cohort-based and fixed term programmes (usually between 3-6-9 months) to support growth stage ventures to achieve scalability and self-sufficiency, through offering advisory services, mentorship, workshops, networks and usually investments in cash or in-kind. COWORKING SPACE A co-working space is a shared physical workspace that provides office facilities and a community to startups, small companies and independent workers - offering reasonable and flexible contracts for its users and encouraging peer-learning, networking, capacity development, and collaboration. ECOSYSTEM An ecosystem is a dynamic framework consisting of a set of stakeholders - startups, hubs, investors, academic institutions, public institutions, corporations - who interact and engage with each other to seize new opportunities, support innovation and strengthen the overall business environment for entities at different stages, sectors, and geographical locations. HACKATHON A hackathon is a tech-focused event taking place across a set timeframe which can usually span between one day to a week, and that gathers specialists in computer programming, digital creation, technology or soware development to collaborate on specific ideas or concepts to find solutions to a problem or to design, develop and create MVPs. HACKERSPACE ANDMAKERSPACE A makerspace is a physical facility or lab fitted with machinery, technological tools and other equip- ment to help communities and individuals co-create and explore ideas, create prototypes and test products, as well as develop technical skills and knowledge. INCUBATOR An incubator is a support structure that helps early-stage start-ups transform from idea to venture, by offering advisory services, resources, workshops and hands-on training that guide entrepreneurs in defining and refining their business models and value propositions with the goal of becoming sustain- able businesses. They sometimes have a limited pool of cash to support the portfolio companies. INNOVATION HUB An innovation hub is a centre for learning, ideas, co-creation and community, that nurtures innovative ideas and market disruption, and supports creative ways of solving problems through offering on-the ground support across the entirety of the start-up lifecycle. PORTFOLIO A portfolio is a collection of individuals or organisations that either are part of/have successfully com- pleted a hub programme or are beneficiaries of direct or indirect investment by an investor or fund.


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