MainOne, the leading provider of telecom services and network solutions for businesses in West Africa, has signed a deal with Lagos Garage, ensuring that the 440.ng startups will have all the high-speed internet they need to build and ship their products. 440.ng is a fund and accelerator started by L5Lab and 88mph to invest in Nigerian mobile/web startups. They have made 9 investments so far, and all the startups are currently building their companies out of the Lagos Garage. The Garage is a co-working tech space built into the top of the Moorhouse Ikoyi.
“What we saw in Nigeria, was that the upfront costs of starting a company was a real hurdle to getting products and services to market. The whole notion of building a startup in the proverbial garage, is great in places where electricity works, and the internet cost is negligible.” says Kresten Buch of 88mph and 440.ng, “but here, we’ve seen startups who have spent 10’s of thousands of dollars, even before a product is built, on things like internet, electricity, and rental costs alone.”