OIIE acknowledges challenges facing startup techpreneurs

National Information Technology Development Agency [NITDA], through its agency, Office for ICT Innovation and Entrepreneurship [OIIE], has acknowledged that established companies have experienced the challenges startups are facing before they reach the zenith; as such, young entrepreneurs should view their various problems as learning curves.

Declaring open the third edition of the StartUP Friday in Abuja, the acting Director General of NITDA, Dr. Vincent Olatunji, who spoke through chief scientific officer, Dr. Femi Adeluyi, said the current administration is focusing on ICT innovation.

“The oil prices are not so much in our favour and we want to convert ICT to the cash cow of the economy. So this event is a very good opportunity for us to make that happen. This year, we are going to establish a number of innovation hubs because the government sees that ICT innovation can help us to create jobs, generate revenue”, he said.

National Coordinator of OIIE, Bunmi Okunowo, said that StartUP Friday is an event where nascent companies, irrespective of the sector and solution offering, gather to connect, share and learn from the CEOs of some of the established companies, as well as VCs and other stakeholders. Okunowo said it is an avenue for “startup founders and intending founders to network and access resources”.

According to him, StartUP Friday offered opportunity to attendees to connect with successful CEOs, investors and business owners that would be difficult to access ordinarily. “Leveraging on the convening power of government, we bring these categories of people together within the reach of our startup founders. They are part of the ecosystem, and we want them to share their experience, to network with people and find ways that they can help them. Give them access to resources”, he said.

In the past editions, StartUP Friday had hosted founders of Jobberman, Printivo and Hotels.ng, and these CEOs have shared the stories of how they established their companies. They had told the audience about the road they travelled before overcoming their challenges and how they raised their first big capital.

“If we are all successful then we are doing great. With that success comes a story to tell. There will be a time when a startup founder sits in front of investors and pitch to make them believe that the business is worth investing in. The best way to learn is to listen, learn and follow the principles of those who have walked that path before”, Okunowo said.

According to him, resources do not only mean money, adding that with StartUP Friday, the office would want to make the conversation stronger, deeper and more impactful as it partners with corporates such as Intel and Microsoft that would bring additional value to the startup firms.