Tech experts have urged African leaders to embrace technological innovations in order to promote and support indigenous ideas, start-ups, and talents with the relentless potential to build solutions and products to solve Africa’s problems.
The speakers made the admonition at a programme organised by Spark Africa, themed “Creating the Spark for Innovation.”
The programme, held in Abuja, brought together over 30 speakers and panelists, 3000 tech enthusiasts, founders, a pool of Venture Capitalists, angel investors, big tech giants, innovative hubs, and over 50 exhibiting companies from across 15 African countries.
Speaking on a panel to discuss “Building a resilient & fundable startup ecosystem in Africa,” the Co-Founder Bani Africa, Africa’s Tech Solution for Integrated Payments, Ex-CTO, and Co-Founder of Prospa, Rodney Jackson-Cole, highlighted some challenges faced by African start-ups, especially regarding funding.
According to Mr Jackson-Cole, ‘’It is important for incoming start-ups to understand the problem they are solving and also find means of generating revenue, especially during downtimes and winter of funding.’’ He believes that any serious start-up company does not need millions to start a business in Nigeria but just enough funds to hit the ground running.
‘’Don’t raise money if you do not have the means, but strife to raise funds only when it is super important in solving a major problem you totally understand.’’
While sharing his personal experiences starting his companies, Bani Africa and Prospa, Mr Jackson-Cole emphasised the importance of building a viable network of experts in the Nigerian Start-up ecosystem, saying it will go a long way in easing the stress of raising funds and other resources considering the lack of support on the part of the government.
On the roles of partnership and collaborations, he highlighted the steps he took at the early stage of starting ‘’Prospa’’ where he relied on building his brand on social media before he thought about working with other start-ups.
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He added that Bani currently has ties with about six Nigerian banks, a partnership achieved in collaboration with other start-ups.
Having talented members on the team helps save money and helps with good marketing, just as leveraging networking, turning ideas into tangible results, and having a product that works is the most important part, he said.
The Africa Technology Expo was organised by Spark Africa in partnership with UNDP, the US consulate, NITDA, TMCON, TECNO MOBILE, KUDIBAR, and ENUGU STATE GOV., among other organisations.
The first day of the event was tagged “Blockchain Day,” which featured interesting blockchain product exhibitions, intriguing panels, and a themed party, while the second day was “Startup & Talent Day,” featuring exhibitions, talent masterclasses, panels, games, entertainment, pitches, and a dinner.
The second Panel session, titled “Promoting Blockchain & blockchain-related services in Africa”, featured experts who provided insights and practical advice for blockchain enthusiasts looking to be sensitised on the growth and intricacies of blockchain activities in Africa.
The third Panel discussion explored “Scaling Africa: The Future of Youth Entrepreneurship”, while thought leaders and innovators driving change in the tech industry provided insights into the breakthroughs in the ecosystem.
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