Uche Aniche, a boisterous young Niger Deltan working hard as a start-up coach, angel investor, fund manager, and venture capital strategist, has been striving to create a start-up culture in the south-south and east.
At the recently concluded seventh edition conference of StartUpSouth, Aniche set up a panel of some of the experts that caused huge excitement amongst the young persons and Netizens.
Aniche introduced the theme, ‘Remotely global, advancing sub-national economies; from talent to corporations.’
The panel included Tomi Davies, an IBM systems expert, head of Data processing, head of IT in a firm in the UK; and an e-Government expert who said he discovered 30,000 ghost workers for Nigeria, and that they threw him out of Abuja.
He is the one who created Superstrikers and sold it. Now, he says, he is in angel funding. He caused excitement when he mentioned the amount he sold the venture.
Iroghama Ogbeifun was the only female on the panel. She is a serial entrepreneur geared around solving problems. She owns 11 vessels serving IOCs.
Wale Adisa was the third member of the panel. He has a background in commercial banking but now the CEO of Omnibiz. He is also an e-commerce entrepreneur who is helping businesses to grow big.
Tomi Davies: How angel Startups are funded
He asked to know those in the audience with bright ideas looking for how to develop it. He then outlined how start-ups are funded. “Angels do not invest big money. They call up allies and each invests small. Startups are the riskiest ventures in the world. Commercial banks will not touch it.
“SMEs are different from startups. We still invest in startups because many will fail but one that works will blow you.
“If you are into making money, then, angel investing is not for you. But if you are into seeing people grow, then go in.”
On what would attract CEOs to startups, Davies said: “CEOs will queue up if they hear you have digital transfer solutions. Put digital education suggestions to governments.”
Iroghama Ogbeifun: Need for clear messaging about startups
“There is need to structure the economies of sub-nations. Today’s job is knowledge of IT and around digital environment. Survival instincts drive knowledge but it needs government structure.
“No African country is rated in global skills rating, but Switzerland is world number one.
“Opportunities abound in just by solving the numerous problems. Private sector people must speak to the government to get their interest.
“Apps are taking over solving problems. Knowing how to do something is the new way, the new challenge. There is need for corporations to spring up here and there.
Collaborations are highly needed. There is need to bring decision makers in one room and brainstorm. That way, the message of startup will begin to penetrate the CEO levels. There is need for clear communication of startup messaging to win more converts.”
Wale Adisa: PH my next destination
He explained how he invests outside Lagos, saying he invests in Ilorin, Kano, etc. “Now, Port Harcourt is the next destination. We can grow the states and local council areas by investing in saleable businesses
“Migration from states to Lagos, Abuja, and abroad can be reduced by developing the economies of the states. If people find opportunity, they will stay put and pursue it. In this case, angel investors are needed.
“If a business can employ 300 workers, it will reduce exodus. So, don’t just condemn exodus but do something about it, invest.”
Adisa said many people have done well in angel investing. “It’s not about making money. Angel investing is not for everybody. It’s for those who want to develop the community.
“This nation failed young people. So, investing in Angel form is part of helping the youths where government has failed. It helps to reduce crime and helps to create jobs and boost good in a society.
“CEOs will listen if digital propositions are put to them,” Adisa said.
