Connect with us

E-Business

So, Our Tech StartUps Missed Out at Viva Tech 2016

Published

on

Chukwuemeka Fred Agbata Jnr
Kindly share this post

Recording over 45,000 visitors in three days, 300 seminars with the world’s biggest names in tech, and over 10 million euros distributed to startups, Viva Technology Paris 2016, apparently, exceeded expectations.

Unfortunately, not a single tech startup from Nigeria attended this first edition of the event, held between June 30 and July 2, 2016, dedicated to the growth of startups and the collaboration between large companies and startups has been a success, across the globe.

Not that we don’t have smart people with rugged and tested applications, but one wonders what could have been the limiting bar before our ‘great’ startups that prevented them from being among the 5,000 peera who were in Paris as exhibitors, contributing to the challenges set forth by Viva Technology Paris Lab partners, where over 50 awards given out, or simply as visitors to the event.

With assurance for return ticket, event ticket and simplified visa processing, West Africa’s biggest marketing communications group, Troyka Group and its digital division, HotSauce, offered Startups with ‘disruptive’ ideas in Nigeria, and other West African countries, the opportunity to participate at the event. Therefore, the ‘failure’ can’t be blamed on logistics.

The Group confirmed they reached out and collaborated with innovations hubs in the likes of iDEA, Co-creation Hub as well as Lagos Angel Network, and others, in search of tech startups with competitive prowess. At the end, Viva couldn’t select even one.

In some quarters, there are questions about timing, but reports have it that information dissemination, with regards to Viva tech, was faster in Nigeria than in some other African countries, like South Africa and Kenya. You know what? Close to 20 startups from South Africa applied to pitch at Viva Tech but only five startups from Nigeria yet none scaled through.

What or who is to blame for the inability of our champions to knock horns with other global champions, or even learn from the stories of the biggest names in tech and business who participated in panels and fireside chats, such as Tim Armstrong (AOL), Rania Belkahia (Africa Market), Jim Breyer (Breyer Capital), Jay Carney (Amazon), John Chambers (Cisco), Jim Gianopulos (20th Century Fox), Demis Hassabis (Google DeepMind), Rosabeth Moss Kanter (Harvard Business School), David Kenny (IBM Watson), Isabelle Kocher (Engie), Robin Li (Baidu), SY Lau (Tencent), David Marcus (Facebook), Stephane Richard (Orange), Eric Schmidt (Alphabet), Joe Schoendorf (Accel), Jimmy Wales (Wikimedia Foundation), and Reem Younis (Alpha Omega Ltd).

It is rather unfortunate! I have met tech starts in Nigeria developing ‘crazy’ applications, ‘disrupting’ industries. Today, there is likely no smartphone imported into this market, without one app or the other developed by/in Nigeria on it. We have emerged champions at DemoAfrica, ImagineCup, Cyberlympics, to name a few competitions. Our startups are toasts of a ‘few’, pious and dedicated venture capitalists and early seed investors but something is seriously missing.

In my opinion, these startups missed out due to two major factors: policy inconsistencies and lack of marketing skills/mentorship. For the sake of this piece, I will dwell on the second point- lack of marketing skills/mentorship. Marketing and mentorship are different subject areas, however, I have chosen to pair them, because with skills, every startup ought to be familiar with marketing and mentorship cultures. They are sine qua nons!

It’s a no brainer that if an entrepreneur is found wanting with regards the ability to sell and promote, no matter what other skills he or she might have, the business will sooner or later hit a rock. We need startups that must never be fearful or shy or apologetic about selling.

This warning is timely, because Viva Tech and several other opportunities will arise for our startups to prove themselves. The truth is that we are late in the block, unlike Kenya that is about ten years ahead, but have we learnt from the mistakes of the past, to push harder and farther?

It is also instructive to bring this case to the attention of the Information Technology Developers Entrepreneurship Accelerator (iDEA- Hub) located in Lagos to support digital entrepreneurs in developing the most appropriate Business Models for their ideas. That is the mandate of iDEA centres in simplified form.

iDEA is singled out here because it has the ears of the government closer than other private Incubators in the country and the below excerpt explain part of the strategy behind the establishment of iDEA: “Beyond the provision of space, entrepreneurship training, capital, a significant value proposition of iDEA Nigeria is the ability to expose and connect start-ups to a pool of key mentors and advisors that provide expertise in growing a business.

Through the mentoring relationship, mentors have the opportunity to coach, guide and share experiences, knowledge and skills, which will contribute to the Mentee’s growth.

From the mentors’ perspective mentoring gives them the chance to give back and directly influence the prosperity of the next generation of business and organization”.

I want to believe, our tech startups were ‘shunned’ by Viva tech, not for lack of disruptive solutions, but the conviction that these new generation of Nigerian digital entrepreneurs can pitch to high powered venture capitalists.

Our goal should be to get our startups to acquaint themselves with HR, Team Building & Strategy; PR and Marketing; Product Development; Business Modeling/ Strategy; Leadership and Teamwork Advice; Legal; Law; Financial Sector knowledge, fund raising; Start-up Funding Programs and Opportunities; Entrepreneurship, economics, venture capital, among others, as preparation for Viva Tech 2017 has already started. Are we going to be there?

 

 


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Continue Reading
Advertisement
Comments

E-Business

CBN Affirms Alpha Morgan Bank’s Capitalisation

Published

on

Kindly share this post

The Central Bank of Nigeria (CBN) has affirmed the capitalisation of Alpha Morgan Bank, marking an important milestone in the bank’s growth journey and reinforcing its commitment to building a strong, resilient, and future-ready financial institution.

This affirmation reflects the bank’s adherence to regulatory requirements and its strategic focus on strengthening its capital base to support sustainable growth, innovation and improved service delivery to customers.

With this milestone, Alpha Morgan Bank is well positioned to continue expanding its footprint with its 14 approved branches across different states, while deepening inclusivity and enhancing the range of banking solutions available to individuals, businesses, and institutional clients nationwide.

Commenting on the development, the Managing Director of Alpha Morgan Bank, Mr. Ade Buraimo, expressed the readiness of the bank in ensuring compliance with regulatory requirement, good governance framework while delivering satisfying banking along the long-term vision of the bank to become the best bank to work and strong financial institution to reckon with.

He said: “Capitalisation is more than a regulatory requirement; it is an opportunity to strengthen the institution for the future. The affirmation of Alpha Morgan Bank capitalisation reflects the work we have done to build a solid capital foundation that allows us to support businesses more effectively, expand financial access and continue delivering the level of service our customers expect.’’

According to him, Alpha Morgan Bank remains committed to maintaining strong corporate governance standards, sound risk management practices, and prudent financial management as it continues to support economic development and create long-term value for stakeholders.

“As Alpha Morgan Bank enters the next phase of its journey, the institution will continue to scale its operation, invest in technology, expand its branch network and digital banking presence, whilst delivering reliable and satisfying banking experiences to its growing customer base,” Buraimo added.


Kindly share this post
Continue Reading

E-Business

Police Says Victims Enable Cyber Attacks Out of Ignorance

Published

on

Kindly share this post

Mr Uche Ifeanyi, commissioner of Police in charge of the Nigeria Police Force National Cyber Crime Centre (NPF-NCCC),  said on Friday that most cyber attacks occur because victims act out of ignorance.

Police Says Victims Enable Cyber Attacks Out of Ignorance

He spoke in Abuja at the opening of an online cybercrime awareness campaign themed “Odogwu No Dey Hide Him Face,” organised to educate and empower communities about online safety and cyber hygiene.

“Studies reveal that the majority of cyber attacks are initiated or enabled by victims due to lack of knowledge.

“Personal information is invaluable and must be protected at all times.

“Just as we maintain physical health, we must also maintain a healthy digital lifestyle,” he added, stressing that simple cyber hygiene practices could greatly reduce the risk of becoming a victim.

He urged the public not to disclose confidential information to unauthorised persons and to use strong, unique passwords, enable multi-factor authentication, and apply security safeguards on digital devices.

“Keep personal information private, avoid suspicious links, and regularly update software or system patches,” he said, adding that antivirus programmes and firewalls were essential for online safety.

Ifeanyi warned against falling for “free gifts” online.

“If it sounds too good to be true, it most likely is fraud,” he said, advising caution with urgent or suspicious messages.

He also urged internet users to verify information before sharing to avoid spreading fake news, emphasising that cybercriminals could exploit everyone regardless of age, occupation, or social class.

Vincent Olatunji, director-general, National Data Protection Commission (NDPC), commended NPF-NCCC for its efforts and said the campaign theme was commendable.

He noted the importance of educating people on legitimate wealth and safe internet use.

Olatunji said that the fight against cybercrime required collective effort, warning that the risks were increasing daily as more people connected to the internet across Nigeria.


Kindly share this post
Continue Reading

E-Business

Firm Enhances its Security Awareness Platform with SCORM and PDF Support

Published

on

Kindly share this post

Kaspersky has introduced an update to its Automated Security Awareness Platform, adding full support for PDF and SCORM (Sharable Content Object Reference Model) – the industry-standard protocol for deploying and managing e-learning content.

The enhancement enables organisations to build fully customised cybersecurity training programmes that reflect their infrastructure, risk profile, and internal policies, while continuing to benefit from Kaspersky’s expert-driven security content and phishing simulations.

According to the Kaspersky report titled “Redefining the Human Factor in Cybersecurity”, employees responding to phishing attacks was one of the main causes of cyber incidents in companies worldwide, accounting for 21% of cases among other reasons.

At the same time, additional Kaspersky research reveals that social engineering attacks are predicted to increase more than any other type in the nearest future, with 87% of respondents believing that social engineering attacks will become even more effective due to the use of AI tools.

The new Kaspersky Automated Security Awareness Platform (Kaspersky ASAP) update directly addresses several persistent challenges such as reducing the number of human-related incidents, cutting time spent on managing training programmes, decreasing regulatory and compliance risks, and minimising potential legal or reputational damage stemming from cybersecurity breaches.

With the new SCORM support, the platform becomes even more flexible: companies can now upload, track, and manage their own SCORM-based learning materials directly within the system. In addition, companies can accelerate their programmes by using easier-to-create PDF-formats.

This allows organisations to tailor training to their specific technology stacks and emerging threats targeting their industry or region. Businesses that have already invested in third-party SCORM courses or internal learning development can now seamlessly reuse their existing modules, protecting their prior investments while strengthening their cybersecurity posture.

The combination of Kaspersky’s embedded content built on real cases uncovered by the company’s world-class experts with customers’ PDF materials or SCORM modules enables a true best-of-breed approach to human risk management.

Organisations can supplement Kaspersky’s up-to-date cyberattack scenarios with internal policies, unique workflows, and industry-specific lessons, ensuring training resonates with employees and reflects real operational challenges.

“Human behaviour remains one of the most unpredictable elements in cybersecurity and also one of the easiest for attackers to exploit. By adding SCORM support to Kaspersky Automated Security Awareness Platform, we’re giving organisations the flexibility to build training programmes that truly match their internal realities.

“Combined with Kaspersky’s expert-driven content and real-world attack data, this update empowers companies to create more adaptive, relevant, and impactful awareness programmes than ever before,” comments Svetlana Kalashnikova, Security Awareness expert at Kaspersky.


Kindly share this post
Continue Reading

Trending