National Information Technology Development Agency [NITDA], through its agency Office for ICT Innovation and Entrepreneurship, [OIIE], has acknowledged the challenges faced by technology startups in the country and have therefore said that StartUP Friday, a program designed to bridge startup growth gap by enriching the development processes of new tech-driven businesses should be taken to other states in Nigeria.
Currently only in Abuja, StartUP Friday, through its “meet-up” with successful entrepreneurs, investors, mentors, technology buyers and enthusiasts in major tech clusters across the country has previously hosted founders of Jobberman, Printivo and Hotels.ng, and these CEOs have shared the stories of how they established their companies, telling the audience about the road they travelled before overcoming their challenges and how they raised their first big capital.
Declaring open the third edition of the StartUP Friday in Abuja, Vincent Olatunji the acting Director General of NITDA, who was represented by Femi Adeluyi, Chief Scientific Officer, NITDA, said the current administration is focusing on ICT innovation.
“The oil prices are not so much in favour of the country and we want to convert ICT to the cash cow of the economy. So this event is a very good opportunity for us to make that happen. This year, we are going to establish a number of innovation hubs because the government sees that ICT innovation can help us to create jobs and generate revenue,”he said.
Bunmi Okunowo, National Coordinator of OIIE said that StartUP Friday is an avenue for “startup founders and intending founders to network and access resources”.
According to him, StartUP Friday offered opportunity to attendees to connect with successful CEOs, investors and business owners that would be difficult to access ordinarily. “Leveraging on the convening power of government, we bring these categories of people together within the reach of our startup founders. They are part of the ecosystem, and we want them to share their experience, to network with people and find ways that they can help them. Give them access to resources”, he said.
“If we are all successful then we are doing great. With that success comes a story to tell. There will be a time when a startup founder sits in front of investors and pitch to make them believe that the business is worth investing in. The best way to learn is to listen, learn and follow the principles of those who have walked that path before”, Okunowo said.
Okunowo stated that resources do not only mean money, adding that with StartUP Friday, the office would want to make the conversation stronger, deeper and more impactful as it partners with corporates such as Intel and Microsoft that would bring additional value to the startup firms.
“We recently signed an agreement with Intel to tap into their huge network of resources that can significantly benefit Nigerian startups that are using technology to drive their businesses. With this partnership, we are creating the bridge for startups and hub operators to leverage on to create more value for the ecosystem.”
This means that startups with device-oriented solutions would get access to engage Intel through the partnership to drive device production at a cheaper rate. The partnership would foster device penetration and use of new and innovative solutions that would promote inclusive development in underserved and unserved areas.
Other partners, he said, include eLPee Consults, Ripple VC, DraperDarkFlow and SpeedUPAfrica whose managing parnter, Toro Orero, has indicated interest to collaborate with OIIE with the objective of exporting StartUP Friday to Ghana in July, as well as sponsor 50 Nigerian startups to the event.
Ife Adebayo, Special Assistant to the Vice President on Innovation and Entrepreneurship, observed that the Startup Friday should be replicated across other states of the country, as it would offer Nigerians with great ideas opportunity to show such ideas to the right investors.
JUMOKE AKIYODE
