In order for Nigerian startups to have a chance of succeeding on the international stage, Prof. Isa Pantami, the Minister of Communications and Digital Economy, has urged them to remain innovative on Friday.
Pantami made the call when he officially received two Nigerian Start-ups that were among the winners at the LEAP Rocket Fuel pitch competition which took place in Riyadh, Saudi Arabia.
Nigeria's involvement was made possible by the National Information Technology Development Agency (NITDA), as the country belongs to the Digital Corporation Organization (DCO).
DCO is a global multilateral organisation that seeks to accelerate inclusive growth of the digital economy in order to enable digital prosperity for all.
The start-ups were Wicrypt and RiceAfrika Technologies, a provider of tech-driven agricultural optimization services and a start-up invention that makes it possible to share the internet with anyone, everywhere.
The start-ups were praised by Pantami, who noted that their efforts enhance the perception of Nigeria on a worldwide scale.
“This is supposed to be the beginning not the end, we need to have many of you that will emerge because Nigeria is so passionate about innovation.
“You are job providers not seekers because the challenge of unemployment, underemployment can only be addressed by promoting our digital innovation and digital entrepreneurship.
“We are more interested in supporting job providers and if there is anything the government can do to support you to be successful, we are always ready.
“We hope that in the next few years, you will be in the top class globally, don’t narrow your thinking only to Nigeria, think big where your innovation will be beneficial globally,’’ he said.
Pantami continued by saying that the federal government would keep working to create an atmosphere that would encourage entrepreneurs and inventors to continue enhancing the favourable perception of the nation.
“Recently, we initiated the Nigeria Start-up Act which is among the most important legislations we have in Nigeria particularly when it comes to addressing the challenges confronted by our innovators.
“Also, after my visit to the US SpaceX, few days later Nigeria happened to be the first country to have StarLink.
“As as of today, Starlink covers the entire landmass of Nigeria approximately 920,000 square kilometres.
“These are some of the things that will drive the sector and the ecosystem to be successful,’’ Pantami said.
He said that Nigeria will actively support the DCO's global success by promoting its initiatives.
With over 10,000 submissions, 12 start-ups from the nation were selected to compete in the LEAP 2023 pitch competition, according to Mr. Kashifu Inuwa, Director-General of NITDA.
According to Inuwa, the DCO made roughly 220 shortlists and only eight were chosen. The DCO then supported two people from each start-up, totaling 16 people.
“In the first round, 90 were selected to participate at the semi-final, all eight start-ups from Nigeria were among the 90 start-ups.
“Out of the 90, 12 qualified for the finals, while three are from Nigeria, the Wicrypt, the RiceAfrika and Scholar Limited and two became winners out of the six categories, Nigeria took two categories.’’
It is an honour to represent Nigeria on a worldwide scale, according to Mr. Ibrahim Maigari, CEO of RiceAfrika.
According to Maigari, the victory demonstrated the viability and exportability of their business model and operations.
“It goes a long way to tell other innovators that impossible does not exist, it is an inspiration that Nigeria’s policy is trickling down into the ecosystem,” he said.
The founder of Wicrypt, Ugochukwu Aronu, stated that every start-up trying to alter the narrative in the technological ecosystem should take note of their success.
Aronu applauded the administration and urged them to do more to foster the development of young innovators.
The awarding of letters of congratulations from the Federal Government to the awardees was one of the meeting's highlights.
The competition took place from February 1 to February 3 and the winners in Saudi Arabia received $150,000 apiece as prizes.
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