Kabelo Makwane, managing director, Microsoft Nigeria Limited, has called for the protection Intellectual property (IP) to accelerate local innovation and economic development in Nigeria.
He told Nigeria CommunicationsWeek that “It is important even at the level of this conference (DEMO Africa 2014). If you think about it, a lot of these guys are busy working daily, creating software. What is behind that creation is the intellectual property; something in their minds they are translating to tangible product and service”.
Federal Government’s contribution to the development of a robust pipeline of start-ups with industry focused Tech Launchpad software competitions and iDEA incubators and accelerators recently produced seven companies out of the hub.
Currently, the initiatives have added 70 start-ups to this fledgling but vibrant ecosystem and 4 IDEA incubates also emerged finalists for DemoAfrica 2014.
But, the Microsoft’s Boss, said that, “It is a shame that a-times, you will find that these guys have invested so much time and even the money that have gone into it, especially from their partners or funders, at the end, it is either the creation is stolen or pirated by someone who has not spent the requisite amount of time.
Makwane, who also spoke on the premise of recent adopting of Microsoft as Corporate member of the Institute of Software Practitioners of Nigeria (ISPON), said, although, institutions, venture capitalists and other investors have shown improved interests in supporting start-ups in the economy, however, IP theft is a pest that must be contained to allow the inventors to succeed.
“Yes, banks, for instance, are becoming more open to funding start-Ups.
They are more willing now. The momentum is gathering; they are recognizing the opportunities and what these opportunities mean in spurring on leap-frogging, from the local economic development perspective. Banks are becoming more open in terms of loans.
“Aside banks, VCs, private equity, etc., are very interested in this sector. It is imperative to recognize that when Nigeria’s economy was rebased, there was a realization that one of the major contributors is the service sector; which is a wake up call for investing in services, which is worthwhile. There is a lot of focus now in investing in services related organization.