This weekend, the Africa Technology Expo, (ATE 2024) sponsored by MTN Nigeria and Fidelity Bank, showcased the innovation and competitiveness of African startups.
The event was an avenue for African businesses to display their creativity and gain opportunities in the competitive tech industry.
Olatubosun Alake, Commissioner for Innovation, Science, and Technology in Lagos State, delivered a keynote speech on behalf of the State Governor Babajide Sanwo-Olu. Alake highlighted the commendable support Lagos State has provided to the technology and innovation industries, acknowledging the role of tech startups in driving economic growth and social development.
“This event celebrates the ingenuity and resilience that defines our people,” Alake said. He detailed the various initiatives by the Lagos State government, including the support of over 60 startups through the Lagos State Science Research and Innovation Council and facilitating investment for more than 30 startups.
Alake also mentioned the state’s efforts to support research and development projects in universities, noting examples such as medical research on jaundice and artificial intelligence for medical imaging. “Our job in government is to de-risk the research and development process to enable new products and services to be created and scaled,” he explained.
Representing the Managing Director and CEO of Fidelity Bank, Dr Nneka Onyeali-Ikpe, OON, the Executive Director and Chief Risk Officer, Kevin Ugwoke, presented another great keynote speech. Ugwoke spoke on Fidelity Bank’s focus on supporting the African startup industry. “Africa leads a rapidly growing tech sector, driven by a young, tech-savvy population and advancements in mobile technology,” he said.
He highlighted the bank’s initiatives to support micro, small, and medium-scale enterprises (MSMEs), including the VPN Platinum Award 2021 and the Bank’s sponsorship of the Top 100 Fastest Growing SMEs. Ugwoke also mentioned Fidelity Bank’s SME Mentorship Program, designed to facilitate networking and collaboration among entrepreneurs.
“Africa can be the home of emerging economic powerhouses,” Ugwoke asserted, “and Fidelity Bank is dedicated to supporting this potential through strategic partnerships and investments.”
Alake congratulated the participants of the Africa Pitch Battlegrounds, selected from a pool of 200 startups, stating, “Your success is a beacon of hope and inspiration. Let us continue to innovate with purpose and build a future where everyone has the opportunity to thrive.”
Giving the welcome address, Nnaemeka Clinton, Chief Innovation Officer of the Africa Technology Expo, pointed to the commendable growth and innovation within the African tech industry. Clinton noted, “From the wider tech landscape of the African continent to the busy hubs of Accra and Lagos, we have witnessed relentless innovation that is shaping our future.”
He acknowledged the challenges faced by startups, including competition and the need for more support, but stressed the resilience and potential of African tech entrepreneurs.
Clinton encouraged collaboration and the sharing of successes and challenges, stating, “Our collective efforts will not only enhance our capabilities but also address critical issues facing our continent, leading to a more prosperous and inclusive future.” He highlighted the importance of local startups focusing on user experiences and functionality, with the goal of solving social problems in Africa.
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