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Addis Ababa, Ethiopia

As Addis Ababa experiences a surge in shared workspace, ACE Advisors, an investment and impact consulting firm, has unveiled a new co-working space and venture tailored specifically for startups.

Situated on the sixth floor of the KT 12 building, directly opposite the Ethio Telecom Excellence Academy, ACE CoLab aims to provide a vibrant and supportive environment for entrepreneurs to thrive.

ACE Advisors was founded by two women, Nasreen Mohammed and Aida Erkyihun three years ago. Its newly launched ACE CoLab has space for more than 32 clients. 

“We have invested over five million birr to establish this space,” Nasreen Mohammed, co-founder of ACE CoLab, told Shega.

“Our focus primarily lies on supporting women-owned startups. We seek to empower women who face challenges in scaling up their ideas. We particularly target sectors with a significant female presence, such as agro-processing and manufacturing (garment) industries,” she added.

Navayet Baraki, an analyst at the company, outlined the various working space packages offered by ACE CoLab, starting from four hundred birr per day for the basic/hot desk option to private office spaces. “Our pricing is flexible and can be negotiated,” Navayet added. “Additionally, the Lab’s premium package includes training programs and consulting services.

At the launch event, ACE also introduced ACE Data Hub (ADH), a service offering a variety of data types to aid individuals seeking investment opportunities in Ethiopia. “ADH provides strategy and regulatory documents, quantitative indicators, and guides for different investment phases. We also offer services to assist with specific processes along the way,” stated Navayet.

Furthermore, ACE  is in the final stage of launching its  ACE  Startup Accelerator program, an accelerator and Equity investment program. 

At the beginning of this year, WeVenture, a newly capital-backed incubator, also opened its doors.

Supported by a coalition of successful local investors and professionals, including Yonaiel Tadiwos, Manager at Kuriftu Resort and Boston Day Spa, the hub also provides a co-working space.    

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Daniel, a writer and radio host, has a keen interest in technology. Additionally, he has supported various organizations by enhancing their digital presence in his role as a social media manager.