Lagos Innovates Workspace Voucher Program is Now Open
Workspace Vouchers are an incredible opportunity for aspiring founders and teams in Lagos State. These vouchers provide a significant discount on membership costs at any of Lagos Innovates’ Partner Hubs for a limited period of time.
At Lagos Innovates, we understand the challenges that new ventures face, especially in the early stages. That’s why we want to support the highest potential founders and startups by providing access to well-equipped workspaces and learning opportunities.
To make it even more accessible, we will cover a portion of the membership costs, ranging from 30% to 75% on average, for a duration of 3 to 12 months. The exact value of the award will depend on the stage of your venture. We have a list of Partner Hubs where you can choose to work from.
We want to ensure that these benefits go to the most promising founders and startups. Therefore, the application and allocation processes are competitive and merit-based. We have set eligibility criteria to ensure that the vouchers are given to those who truly need and deserve them.
Eligibility
If your venture is in the ideation to very early revenue stage, if you have a small team of co-founders, if your monthly revenues are not more than one million naira, and if you have not received any third-party capital for your venture, then you are eligible to apply for a Workspace Voucher.
Selection criteria
The selection process is rigorous but fair. Your online application will be judged solely on its merits, and it will be scored by a panel of judges from within the Lagos startup ecosystem. They will consider four criteria: market opportunity, strength of the entrepreneur/co-founding team, progress or traction to date, and strength of recommendation by a credible third-party.
The maximum score you can achieve is 100 points, and the vouchers will be allocated to the highest scoring ventures, as long as they meet a minimum threshold score of 50 points. We will continue allocating vouchers until the available ones for a particular period are exhausted.
So if you have a brilliant idea and a dedicated team, don’t miss out on this opportunity. Apply for a Workspace Voucher and take your venture to the next level!
Selection process
The evaluation process and requirements for your online application are quite straightforward. Your application will be assessed solely based on its merits, as long as you meet the eligibility criteria for a Workspace Voucher.
A panel of judges from the Lagos startup ecosystem will be responsible for scoring the applications. They will consider four key criteria: (1) the market opportunity, (2) the strength of the entrepreneur or co-founding team, (3) the progress or traction achieved so far, and (4) the strength of recommendation from a credible third-party.
The scoring system ranges from 0 to 100 points, with the highest-scoring ventures being awarded Workspace Vouchers. However, there is a minimum threshold score of 50 points that must be met in order to qualify for the vouchers. The vouchers will be allocated until the available slots for a specific period are filled.
While it is possible to score 50 points without a third-party recommendation, having one can significantly boost your score. It is recommended to seek references from recognized experts within the Lagos startup ecosystem, such as successful founders, investors with impressive track records, or hub/incubator operators. These individuals should have a good understanding of you, your co-founders, and your venture, and be able to provide valuable insights about your potential.
These individuals should have a good understanding of you, your co-founders, and your venture, allowing them to provide valuable insights about your potential. Get ready to revolutionize your operations with our amazing offerings: state-of-the-art workspaces customized to your specific needs, access to top-notch equipment and facilities without the burden of high costs, collaborative setups that ignite team synergy and innovation, and networking opportunities within the startup ecosystem. Say goodbye to rental headaches and utility costs, and focus on building the startup of your dreams with your team!
For details and to apply, please visit the official website
