Experts Seek End to ‘Killers’ of IT Innovations In Nigeria

Technology experts have identified three hurdles before startups, especially in the Nigerian Information Technology (IT) space including lack of access to finance; the right platform or network; and partnership to leverage on and access the wider markets.

Mr. Jospeh Umunnakwe, general manager, Microsoft Mobile Devices and Service, West Africa, said that startups in the IT terrain are the major motivations for a replica ‘Silicon Valley’ in Nigeria, however there are three things that must be addressed.

“Let me make reference to Airtel’s Catapult-a-Startup initiative. It is such that can help bride the three major challenge among the IT startups such as the providing the right platform for mentoring, financial or networking and the partnership to actually open their sights to the international market.”

Nodding in agreement, Olubunmi Ekundare, country manager, Intel Corporation (Nigeria) said that “Current cars, for instance, “have about 8000 different parts and there are industries around it. If we look at Japanese cars there are small industries around the modern cars; who manufacture the headlamps, tyres, speedometers for cars, among others and that is how the country has reached to where it is today.

“There are tremendous potentials we have in Nigeria; our population, our brains, our youths, and what they can really get up to do. I encourage you to take up opportunities like the Airtel Catapult-a Startup. The other thing at Intel we have our investment arm; Intel Capital also cited in Lagos. So, there are a lot of potentials and our investment director keeps telling me, ‘I have no businesses to invest-in. I have no ideas to invest-in’. So this is also a good opportunity.

“If you have the ideas, you can be sure that there is a venture capital looking for ideas to invest-in. we have best-known-mentors that we can share with all over the world. We are going to be actively involved in the Airtel Catapult-a-Startup. Potential Silicon Valley entrepreneurs will take advantage of it.
 
Also Alex Tasin, managing director, Blue Management, said that enough platforms have been provided for the startups, but venture capitalists are willing to invest on ‘marketable’ ideas.

He said, “about 18 months ago, a company called 2go from South Africa showed up in my office with a very puzzling-problem. They have developed an interesting social networking application targeted for South Africans, however, over time they realized they have gained nine million users in Nigeria.

They have never done any marketing, or promotion in Nigeria. They had three million users in South Africa. As it turned out, there are several applications or businesses that were started outside Nigeria that are thriving here.

“Eskimi is another one and Facebook has been mentioned; Nigeria is its largest market in Africa. Twitter application has also found very mass market use in Nigeria. What that means is that, there is a huge opportunity for us to start our own businesses and capture as much value as these other companies are doing.