Madhouse, Africa’s foremost hub for creativity and innovation, celebrated the culmination of its pioneering Lens-Based Incubation Programme with the awarding of $10,000 in seed funding to AfrikoHub, the winner of its Demo Day pitch competition. In collaboration with the University of Lagos, Madhouse designed this programme to equip African creatives with essential business skills necessary for establishing profitable ventures.

Africa’s creative industry, contributing 1.42 percent to the nation’s GDP, faces substantial challenges including funding accessibility, intellectual property protection, and limited training support. Initiatives like Madhouse’s Lens-Based Incubation Programme play a pivotal role in addressing these obstacles. Notably, major financial institutions have also recognized the sector’s economic potential, with initiatives such as Afreximbank’s $500-million Creative Industry Support Fund and the African Development Bank’s $170 million loan to digital and creative enterprises in Nigeria.

By providing a nurturing environment for creativity, comprehensive business training, and significant seed funding, Madhouse aims to enable creative entrepreneurs to scale their businesses globally, create employment opportunities, and contribute significantly to economic growth. The programme’s impact has been profound, as noted by participants like Tunde Raphael, Founder of AfrikoHub, who emphasized how the programme pushed his team to deliver and provided practical insights from successful creative entrepreneurs.