Kenyan startup to champion early stage entrepreneurs

Kenyan startup to champion early stage entrepreneurs

LakeHub, a Kisumu-based startup, aims to provide free co-working space and decentralise access to technology to support early stage entrepreneurs and social innovation in Kenya.

As reported by CIO East Africa, the technology and social innovation hub launched in 2015 and also offers space to established businesses in Kisumu at a premium. "Apart from hosting businesses, the hub is focused on building the community through regular, themed events around technology, business plan competitions, hackathons, and design sprint workshops."

"One way of ensuring the youth can enjoy technology without being exposed to negativity is by establishing safe spaces where they can be supervised and advised on how to go about it," reports CIO East Africa.

LakeHub's vision statement reads as follows: "An innovation hub with a community of social entrepreneurs providing innovative and sustainable solutions for social change." In line with the vision, "the institution fills the gaps in infrastructure and resources needed by young entrepreneurs and innovators in Kisumu and its environs to launch, run, and scale their businesses," says CIO East Africa.

LakeHub's co-founder and CEO, James Ode says, "Since our launch in March 2015, our community has grown from 100 founding members to 2 500 members. We host 10 start-ups out of our space. We have hosted 53 events with an average audience of 30 and run two successful three-month long boot camps. I can say our services have been received well by our target market."

Odede further explains, "We have no plans to expand to other Africa countries soon. We are currently working on launching a three-month long incubation program targeting early stage start-ups and providing support in financing, mentoring, and business coaching to six start-ups every quarter."

According to CIO East Africa , Kenya is a very youthful country. The median age is estimated at 19 years, and about 80% of Kenya's population is below 35 years. "To a very large extent, Kenya's youth — defined as individuals between the ages of 18 and 35 — will determine the shape of the country's future. A shape that is currently being moulded through technology, the country is currently undergoing a transformation of sorts with the government of the day undertaking many projects to automate the country's processes.

"One of the major projects the government is undertaking in line with technology and youth is the 'Ajira' project which links the youth to online work. Ajira is one way of promoting tech-entrepreneurship in the country, a noble idea, but when it comes to online technology where the internet is an open place, the youth need guidance when utilising it."

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