Startup Abuja, an organization that promotes new enterprises and the tech ecosystem in Nigeria, has called for sustained policy to create an enabling environment for small businesses to thrive.
Mr. Chigozie Ezugwu, the convener of Startup Abuja Conference, made the call at the conference with the theme “Learn. Build. Collaborate: The Influence of Startups and Digital Skills on Nigeria’s Economy” in Abuja.
According to Ezugwu, the conference aimed at championing innovation and digital skills to propel Nigeria’s economy.
“There is need for sustained policy that will create the enabling environment for small businesses to thrive.”
“That is why one of the key objectives of the conference is to explore catalysts for accelerating startup growth and examine the transformative influence of startups and digital skills on Nigeria’s economic development.”
“We convened influential startups, non-profit leaders, investors, entrepreneurs, and stakeholders from the Federal Capital Territory and neighboring states to facilitate a multi-stakeholder dialogue on emerging issues, challenges, and strategies for nurturing successful startups nationwide.”
“The event sought to accentuate the federal government’s efforts in creating an enabling environment for small businesses and startups through initiatives such as the Young Initiative Builders, Agri-Tech Initiatives, and 3 Million Technical Talent Program (3MTT). ”
Ezugwu said that with the digital economy’s growth projected to reach $300 billion by 2025 in Africa, and Nigeria’s startup capitalization valued at nearly $1.3 billion as of 2023, the conference reinforced the need for effective policy and startup incubation to harness these opportunities.
He said the conference brought together tech founders, industry leaders, investors, entrepreneurs, and stakeholders from across Nigeria to share ideas and experiences with Small and Medium Scale entrepreneurs and tech founders.
He expressed his commitment to positioning Startup Abuja as a premier platform dedicated to fostering innovation and entrepreneurship within the Nigerian startup sphere of influence.
Ms Erin Nardo, director of Product Management at Google USA, who delivered an engaging virtual session on “Beyond National Borders: The Challenges and Triumphs of Taking Your Product Globally.” Talked about the complexities of scaling products internationally.
Erin harped on the importance of understanding diverse markets, and the strategies for overcoming cultural and regulatory challenges.
She said, “To succeed globally, startups must embrace cultural differences, adapt to local markets, and stay agile in the face of ever-changing global dynamics.”
Mr Peter Jigba, head of Value Chain and Strategy at The Alternative Bank, delved into “Financing the Future: How Startups Can Build Effective Relationships with Banks” emphasized the importance of research, preparation, transparency, and communication.
Jigba urged startups to do their research, look for banks with a history of working with startups in their industry and leverage on them.
“Be prepared, focus on future potential, be transparent and communicate,” he said
Mr Charles Usie, Country Director of Plan International Nigeria, addressed “Social Enterprise: Building for Impact and Not for Profit Alone.”
Usie who shared five principles for a successful venture said,” Once it is daybreak, you must be running – the value of time,” and “Are you running after profit or social good or both? What motivates you?”
He wrapped up his session by saying “Time and chance: Be sensitive to moments that are transformational and life-changing.”
Dr Samuel Maduka Onyishi, chairman/CEO of Peace Mass Transit and Founder/Vice-Chancellor of Maduka University, delivered a thought-provoking session on “Cultivating an Entrepreneurial Mindset: Understanding the Skills and Qualities Required to Start and Build a Big Business.”
His session was one of the major highlights of the event, In fact, the attendees never wanted him to end his session. He emphasized the paramount importance of integrity, stating, “The key thing to start small and grow big is INTEGRITY.”
He also added:
“When you’re in your first stage of business (0 to 5 employees), you don’t have any business with diversification. Put your money in one basket and watch it till it grow”
Delving into his wealth of experience Dr. Onyishi reiterated that businesses make money through peoples’ foolishness.
Arc. Dr. Barka Umaru Mshelia, MD/CEO of Mshel Homes, explored the “Multiplier Effect: How Startups Can Catalyze Investment and Unleash Nigeria’s Economic Potential.”
He underscored the significance of customer feedback, strategic foresight, and aligning ideas with customer demands.
He mentioned that “In solving complex business problems, you need to be smart and proactive…this means that you need to develop deep critical thinking and problem-solving skills.”
Temi Badru, an award-winning public speaker, LinkedIn Top Voice, lawyer, and founder of Voices and Faces Communications, addressed “Unleashing the Potential of Startups: How Social Media Empowers Startups to Forge Global Influence and Drive Growth.”
She make emphasis on the importance of not just maintaining an active social media account but also having social media handles for business venture.
Ms. Chinwe Okoli, Special Assistant to the Anambra State Governor on Innovation and Business Incubation, discussed “Digital Skills/Innovation Hub Development: Key Government Policies and Initiatives in Providing an Enabling Environment for Startups and SMEs.” She highlighted government initiatives aimed at fostering innovation and digital skills, including policy frameworks and support programs for startups.
One her closing statement was “You need to watch for what your government is doing so you can tap into it. What are the International NGOs near you doing so you can leverage it.”
Bosah Chukwuogo, MD/CEO of Hosab Integrated Services Limited, tackled “Product Market Fit: Challenges and Opportunities in Building Tech Companies in Nigeria.”
Bosah discussed the challenges of achieving product-market fit, the importance of understanding customer needs, and adapting to market changes.
While speaking, Bosah emphasize that “Finding the right product-market fit is a journey. It requires understanding your customers, adapting quickly, and continuously innovating.”
The last speaker for the day was Prof. Mohammed Aliyu Paiko, Vice-Chancellor of Abdulkadir Kure University, who shared insights on the “Green Revolution: How Abdulkadir Kure University is Modeling the Future of Startups.”
Another compelling highlight of the conference was the high-level panel discussion moderated by Mr. Femi D. Amele, Country Director of Dataphyte.
The panelists are; Miss Lillian Okonkwo, Partnership & Program Manager at Raadaa Partners International, Kelechi Azunna-Benny, CEO of Tribesquare, Ola Stephen Onuh, CEO of Server Zero Technologies and a NITDA VEG Member, and Wisdom John, Senior Partner at Lawgic Africa.
The session, titled, “Challenges of Running a Successful Startup in Nigeria,” fostered an insightful exchange of perspectives on the obstacles faced by entrepreneurs and explored strategies to overcome them.
Mr Vincent Monu, Program Manager of Startup Abuja, emphasised the conference’s alignment with the Federal Government’s efforts to create an enabling environment for small businesses and startups through various initiatives.
He underscored Startup Abuja’s vision of promoting and nurturing the startup ecosystem and tech community in Nigeria’s Federal Capital Territory and across the nation.
With a mission to foster innovation, entrepreneurship, and collaboration, Startup Abuja serves as a hub that facilitates networking, knowledge sharing, and growth opportunities for startups, entrepreneurs, investors, and industry stakeholders.
Through its dynamic platform of conferences, workshops, and initiatives, Startup Abuja plays a pivotal role in propelling Nigeria’s economic development by unlocking the potential of startups and harnessing the transformative power of digital skills and emerging technologies.
Looking ahead, the convener and host, Mr. Chigozie Ezugwu, expressed his commitment to positioning Startup Abuja as a premier platform dedicated to fostering innovation and entrepreneurship within the Nigerian startup sphere of influence.
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