Art of Technology Lagos 3.0: LASG, Eko Innovation Centre Chart Course For Startup Funding, Empowerment of Tech Entrepreneurs
… As Pantami, Others Point out Imperatives of Startup Bill
In a bid to address one of the critical challenges of businesses, especially among startups, the Lagos government and Eko Innovation Centre including other experts at the Art Of Technology Lagos 3.0 held recently in Lagos have offered tips on how start-ups can get funds. They also used the platform to empower innovative Tech Entrepreneurs and young innovators with equity investment and other support initiatives to thrive in the business space.
The two-day hybrid conference curated by Eko Innovation Centre held 3rd and 4th of December, 2021 at the Oriental Hotel Victoria Island, had as its theme “Funding and a Connected Lagos”. In attendance were the crème de la crème in government and other experts in the technology ecosystem who spoke on investment readiness, intellectual property, startup bills and other regulations, and policy formulations for tech startups in the tech ecosystem.
Dr. Isa Ali Pantami, Nigeria’s Minister of Communication and Digital Economy who spoke at the event via a virtual platform commended Lagos and Eko Innovation Centre for making the state the Silicon Valley of Africa stating that it would continue to support the state in its quest to achieve much more.
He explained further that technology deployment is changing the world, stating that the ICT sector was instrumental for the country’s exit from recession. He, therefore, urged startups to deploy technology to ease their operations in the interest of growing their business remarkably
In the same vein, he said the government is determined to support the growth of startups and businesses especially with the many government agencies working closely to fund and grow the business landscape.
Also, he pointed that the country has the highest number of venture capitalists and pointed that the Startup bill currently up for consideration by the federal Executive council, would further help accelerate the growth of Startups when made to the law.
Noteworthy, asides from Pantami, some of the experts at the conference stated that they are optimistic that the bill when it becomes a law will contribute to the creation of an enabling environment for growth, attraction, and protection of investment in tech startups.
On his part, Babajide Sanwo-Olu, Executive Governor, Lagos State said that his administration has been deliberate about deploying technology to make governance seamless and has been funding the technology space in line with its smart city agenda which has further helped the state to be the 5th largest economy in Africa.
He added that from traffic management to security it is deploying technology to make the state better and as regards supporting businesses with funding, he explained that the Lagos State Science Research and Innovation Council (LASRIC) raised the bar in assisting the state in achieving its smart city agenda of making Lagos a 21st-century economy to transit to a smart city through the application of science and information technology and by also providing grants to innovators.
Art of Technology (AOT) Lagos is the largest tech conference in Nigeria which brings together key stakeholders from the public and private sector to discuss policies and initiatives that will pave way for the evolution of a smarter, digital, efficient, and competitive Lagos.
The event also had experts in the technology space, business, and financial sector. Some of the keynote speakers who dissected the theme and subthemes are Ola Williams, Country Manager, Microsoft; Dr. Andrew S. Nevin, Financial Services Leader & Chief Economist (PWC, NG); Olukayode Pitan, MD/CEO, Bank of Industry; Kola Aina, Founder, Ventures Platform; Tomi Davies, Collaborator-In-Chief, TVC Labs; and Aishah N. Ahmad, Deputy Governor, Financial Systems Stability Directorate, Central Bank of Nigeria (CBN) among other experts who will be speaking during panel sessions.
Some of the decisions from deliberations are calls for more government and private support for startups through funding, friendly policies, leveraging technology, adopting sustainability in business, taking the opportunity of sectors they belong among others.
Meanwhile, in a segment of the event titled Collaborate Lagos, 8 startups pitched their products for a chance to receive up to $100k in equity investment from Eko innovation Centre. Collaborate Lagos is an initiative that seeks to give visibility to the best startups in Lagos. The selected startups pitched to 8 judges, 50 VCs, and a global audience.
Recall earlier before the event, the Curator of Art of Technology Lagos 3.0 and Founder of Eko Innovation Centre, Mr. Victor Gbenga Afolabi, had reported that “Over the years, we get blown away by the number of startup entries for Collaborate Lagos. This year we had 168 top quality applications and we are lucky to have the best minds to help with the difficult task of selections. The startups pitching this year are Drugstore.ng, ThinkBikes, Healthstack, Eko Carbon Exchange, Retailar, Vinsighte, EonsFleet and SabiTeach. These Creative ideas are designed to address local issues and eye global expansion. Good luck to the selected few”
However, after the pitching, the judges three of the startup emerged winners. SabiTeach clinched third place presented N250,000, Retailar emerged second with 500,000 and Vinsighte clinched the first position with N1,000,000. Also, beneficiaries of LASRIC grant were also presented with cheques at the event.
Afolabi said the African startup ecosystem has witnessed tremendous growth over the last few years. Albert, a lot of startups in Africa still finds it difficult to secure funds for their businesses which is the reason for the two-day conference. “Our conference had made decisions that have impacted Lagos State in Irreversible ways.”
The two-day summit was building on the success of last year’s event which recorded a large turnout both physical and virtual, adding that its impact has been a phenomenon.
He recalled that the maiden edition was held in 2019 and recorded over 2,000 participants in attendance, noting that one of the key successes was the launch of the Lagos Innovation Masterplan which has continued to guide the Lagos state government in achieving its SMART City agenda.
Also, the second edition hosted about 8,700 participants and witnessed the launch of Startup Lagos as well as Eko Open-source projects, with key participation from over 30 countries worldwide.
Noteworthy, Governor Sanwo-Olu raised the bar for government participation in Tech with a seed funding of 250million Naira to grow the Lagos Tech community at the maiden edition of AoT Lagos.
AT3 Resources Leads Discourse On Creator Economy and Future of Social Technologies ￼
Experts from different sectors of the Nigerian economy have brainstormed on the on optimisation of technology to create prosperity whilst highlighting the numerous opportunities for creators to develop alternate sources of income.
Hosted by Lagos-based strategic communications and events consultancy, AT3 Resources, the interactive session held at AfricaNXT with the theme: “The Creator Economy: What Next After Social Media?” comprising industry experts, tech creators, and digital specialists.
The lineup of panelists during the session included; Oluwasola Obagbemi, Corporate Communications Manager, Anglophone West Africa, Meta; Frank iTom, Creative Director, Frank Itom Creatives; Chinwe Egwin, Chief Economist, Coronation Merchant Bank and Oluwatobi Ayeni (Miss Techy), Tech Creator.
Moderating the session, founder and chief executive officer, AT3 Resources, Tosin Adefeko said, “Before the advent of the creator economy, many of today’s creators would have been unemployed; creators for many years just engaged in their passions; now people can unlock their creative potential and give it value.
“As the country seeks to diversify its economy away from the dependency on oil revenues, we are simply excited to be able to bring this conversation to the frontburner at AfricaNXT 2023”.
Speaking during the session, Chief Economist, Coronation Merchant Bank, Chinwe Egwin, noted that the creator economy is an evolving concept that will assist to boost job creation in Nigeria and if properly harnessed will likely compete with the oil industry.
“The creator economy is borderless and creators need to seize the opportunities out there to promote their craft. However, to avail themselves of the opportunities, creators must ensure that they build the right structures required for their business to thrive,” he said.
Speaking on how creators can stay ahead of the trends that will continue to shape the creator ecosystem, Frank iTom, Creative Director, Frank iTom Creatives stated that, “Creators need to explore new tools, carve a niche that sets them apart and remain consistent in their craft.”
Oluwatobi Ayeni (Miss Techy), Tech Creator, also buttressed by saying that, “As a matter of fact, Artificial Intelligence (AI) is beginning to contribute significantly to the creator economy by helping creators create, edit and distribute content online. The possibilities are endless and looking at what the future holds, there will be an increase in competition and strict regulations, so the best time to start creating is now.”
Highlighting the myriad of opportunities that abound for potential and existing creators across Africa, Oluwasola Obagbemi, Corporate Communications Manager, Anglophone West Africa, Meta, said “The digital space is constantly changing and as such content creators must also evolve.
The Metaverse is one platform that creators can explore to create amazing content and it opens doors to several opportunities for creators to learn and collaborate. Also, Meta has created resources that will enable creators to improve and monetise their content online.
IDC to Host CIO Summit in Qatar as Digital Transformation Accelerates Ahead of FIFA World Cup 2022
The significant acceleration of digital agendas over the past two years has resulted in a continuously changing and increasingly digitally driven world. As Qatar prepares to host the FIFA World Cup later this year, unprecedented technological innovations within the country have reached all-time high.
In fact, recent research from International Data Corporation (IDC) suggests that 57% of Qatari organizations have introduced new digital products and services over the last 12-18 months, while 70% have increased cost efficiencies through the digitalization of operations.
“CIOs in Qatar have rapidly digitalized operations and enabled new digital business models and ecosystem partnerships for the FIFA World Cup and beyond,” says Jyoti Lalchandani, IDC’s group vice president and regional managing director for the Middle East, Turkey, and Africa.
Telecoms Industry Stakeholders Honour Airtel’s Shola Adeyemi￼
L-R: Chief, Legal & Regulatory Officer/Company Secretary, Airtel Nigeria, Shola Adeyemi and Executive Secretary, Association of Telecommunications Companies of Nigeria (ATCON), Ajibola Olude, during the Tech Innovation Awards ceremony in, Lagos recently.
Chief Legal & Regulatory Officer/Company Secretary, Airtel Nigeria, Shola Adeyemi, has been honoured by stakeholders in the tech and telecoms industry for his outstanding contributions to the development of the Nigeria’s telecoms space.
The industry stakeholders under the platforms of the Association of Telecoms Companies of Nigeria (ATCON) and the 6th Tech Innovation Awards, recognized Adeyemi at a colourful ceremony held last week (Saturday, 17th of September 2022) at the Lagos Oriental Hotel.
Speaking during the occasion, organizers of the awards hailed Adeyemi for championing best practices in the industry and for his commitment to the development of the tech and telecoms sector.
In his response, Adeyemi expressed appreciation to the organizers of the award for celebrating outstanding individuals and companies in the industry just as he dedicated the award to his colleagues at Airtel.
The Tech Innovation Award is considered one of the most celebrated industry awards, which has grown to be the ‘Oscars’ of the technology industry, attracting the crème de la crème and top decision makers in the sector.
The Tech Innovation Award is an award ceremony by the Association Of Telecommunication Companies Of Nigeria (ATCON) in association with InstinctWave, a B2B event management, and media solutions company.
Top Stories1 month ago
Flutterwave Secures Egypt Payments Licences
TechForum1 month ago
AT3 Resources Leads Discourse On Creator Economy and Future of Social Technologies ￼
Start-ups/Fintech1 month ago
NCC Restates Commitment To Bridging Digital Gap and Supports Indigenous Digital Solutions
Broadband1 month ago
TSSF 3.0: Experts to Brainstorm on Impact of Satellite Broadband Disruption on Nigerian Internet Space