Interswitch Group, a leading African integrated payments and digital commerce company, hosted its maiden edition of the Startup Innovation Mixer, recently.
The event, themed “Unlocking Synergies between Startups and Established Corporates,” took place at the Interswitch Innovation Hub in Lagos.
Bringing together stakeholders from the tech, fintech, and payments industries, including Interswitch alumni, the event fostered collaboration and partnerships within the ecosystem. Designed as a sustainable platform, the mixer connects startups with established businesses, encouraging idea-sharing and solution-driven engagements.
Adaobi Okerekeocha, chief innovation officer at Interswitch, emphasised the importance of collaboration in driving innovation within Africa’s tech ecosystem.
She stated,
“At Interswitch, we believe collaboration is the bedrock of innovation. As the tech and innovation landscape in Nigeria and across Africa continues to evolve, its immense and untapped potential calls for platforms like this to unlock new possibilities. Our Startup Mixer series represents a pivotal step toward building a vibrant community where startups and established corporates can exchange ideas, explore opportunities, and forge synergies that drive impactful solutions.”
The event featured panel discussions and networking sessions. A panel moderated by Akeem Hassan, technical adviser to the commissioner, Ministry of Innovation, Science, and Technology, Lagos State Government, addressed collaboration between startups and corporates.
Panellist Linda Ochugbua, digital sales manager at BusinessDay, shared key insights, shedding light on transitioning from an idea to a successful entity. She emphasised the importance of storytelling, marketing, legal registrations, and more.
“When seeking partnerships, it is crucial to position yourself in a way that adds value to the collaboration. Understand the needs of the larger organisation and align your solutions with those needs. At the same time, maintain your unique identity and ensure you are not overshadowed or sidelined in the process. Partnerships thrive when both parties bring something essential to the table,” she said.
Ochugbua also addressed a common hesitation among founders: waiting for funding to make their big move, even after crafting impressive pitch decks. She posed a reflective question: “If I were given 10% of the funding I’m seeking, what would I do with it?” She encouraged founders to begin by raising that 10% on their own.
She provided actionable advice for attracting the right talents while bootstrapping: start by building the vision yourself, focusing on foundational skills without complicating titles, and learning about the roles you need.
Engage like-minded individuals, even if they’re not seasoned professionals, and offer tangible compensation like stipends or equity. Focus on creating value by validating your idea with real users, and foster a positive, collaborative culture, whether on-site or remote.
Linda Ochugbua concluded by stressing the importance of discipline and organic growth. “Building something great takes time, effort, and resilience,” she noted.
The Startup Innovation Mixer successfully set the stage for impactful collaborations, reinforcing the role of partnerships in transforming Africa’s innovation landscape.
