Hypercube which used to be one of the pioneers tech hubs in Zimbabwe has announced that it will close shop on the 31st of December 2015 due to financial constraints. The institution which registered its entry in the tech community in November 2013 has called it quits amid inadequate operational resources.
In its press release sent to our news desk this afternoon, the Hypercube team said the termination of operations is a result of failure to secure the funds needed to run the tech community. The team noted with agony that the board of trustees has been working tirelessly to secure the funds for the past elevens months but in vain.
“The board of trustees has been tirelessly working around the clock for the past 11 months hoping for a different outcome,” wrote the team.
The team also revealed that since its inception, the tech hub has been facing a plethora of challenges including, getting the right team to execute duties, implementing adequate policies and procedures, delays in the little income and also the harsh economic problems.
“The truth is that Hypercube has been facing challenges for quite some time including, ensuring we had the right team to execute of our mandate, underestimating the turbulent Zimbabwe economy, implementing adequate policies and procedures, significant delays in the little income we were receiving to cover operational expenses, and adapting our business model quickly enough to reflect the realities of the Zimbabwe marketplace,” the team continued.
However, under such unpalatable working environment, the team have managed to assist more than 1 500 techies under the following;
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75 active, participating and registered members who called Hypercube their home
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Co-working space we created for young entrepreneurs and developers to come in and work on their projects
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Incredible progress made by the Road Rules team, winners of the 2014 Ampion
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Venture Bus Competition, finalists in the Innovation Baraza and the recent launch of their app, built at Hypercube.
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Hypercube’s first incubated startup called uHealthZim that launched in October 2015. UHealthZim uses innovation to ensure the prevention and quality healthcare for diabetes and hypertension
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Over 7 innovative mobile/web products/services produced for/during hackathons and Bar/campstyle events
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Contributions made by Hypercube and its team members towards various panel discussions, forums and speaking engagements on topics such as innovation, social enterprise development, ICT4D, entrepreneurship development and social issues in the Zimbabwean context.
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Several grassroots training programs for young people, including Hour of Code, Footprints mentoring for young girls, Robofest Robotics Competitions for schoolchildren hosted at Hypercube
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Establishment and hosting of the GDG Harare, Google Developer Groups providing access to Google technologies for tech enthusiasts and developers.
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Strong partnership with TEDx Harare that saw 2014 and 2015 TEDxHarare events hosted at Hypercube
The team has since been sending emails to all Hypercube subscribers to inform them of the current situation. The team has recommended other local hubs as the best alternative for technopreneurs in Zimbabwe.
- Technomag Zimbabwe