iHub receives new investors, founder team mulls over management transition

A year after it marked its 5-year anniversary, iHUB – the Nairobi-based co-working and tech-innovation hub – has today announced that it has received new investors and welcomed a new team to steer the organization in its next phase of growth.

In a post via the iHUB blog, Erik Hersman, one of the organisation’s 3 directors, wrote: “Today we’re excited to announce some fairly significant changes at the iHub. A group of people are investing in the iHub in order to help us grow, to tighten up our service offerings and make them more profitable, and to help us figure out how not to just find startups but to grow the ones that are getting traction. The people involved are Prof Ndemo, Becky Wanjiku, Ken Mwenda and Miguel Granier.”

In the post, titled ‘iHub: The Next Chapter’, Hersman states that the iHub Advisory Board has also come “to a unanimous decision to move forward with outside investment as it would invigorate and help the iHub pivot towards where it needed to go.”

INFOGRAPHIC: iHub Milestones over the last 5 years. (from iHub blog)
INFOGRAPHIC: iHub Milestones over the last 5 years. (from iHub blog). (TOP: Erik Hersman)

“We’re all excited about the resources that the new investors are bringing to bear,” states Hersman, even though he doesn’t say exactly who the investors are and the amount of investment extended to iHub.

“As we go through these changes, Josiah Mugambi continues as Executive Director and Juliana Rotich and myself will continue as iHub Directors for stability and continuity. Over time, we will rotate off and others will take our places. The goal is for iHub to evolve and grow with the ecosystem it has engendered. I couldn’t be more proud of what we have all built together, or more excited about where it will go next,” he states.

This essentially means that after 6 years running the organization – which has incubated various successful startups in the country – the founder team of Mugambi, Juliana and Hersman could soon hand over the reins to a new team.

Since it was set up in 2010, iHub has built m:lab incubator, started iHub Research and later established its three other iHub-affiliated divisions – that is iHub Research, iHub Consulting and UX Lab.

Here’s the complete iHub: The Next Chapter post.


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