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So, Our Tech StartUps Missed Out at Viva Tech 2016

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Chukwuemeka Fred Agbata Jnr
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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?

 

 


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What the Retail and E-commerce Sector Should Expect in 2026 in Era of AI-driven Shopping and Privacy

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In 2025, the retail and e-commerce sector continued to face intense pressure from cybercriminals. According to Kaspersky data, 14,41%* of users in the global retail sector encountered web-based threats, while 22,20% were affected by on-device attacks.

Ransomware remains a serious concern for the industry. Last year, 8,25% of retail and e-commerce companies experienced ransomware incidents, and the number of unique B2B users in the sector affected by ransomware detections rose by 152% compared to 2023, signalling a sharp escalation in targeted attacks.

Phishing also continues to be a major threat vector. Kaspersky identified 6.7 million phishing attacks targeting users of online stores, delivery services, and payment systems in 2025. More than half of these attacks (50,58%) were aimed specifically at online stores, underscoring cybercriminals’ focus on e-commerce platforms as high-value targets for fraud and data theft.

A look at 2025 cybersecurity for retail & e-commerce: Trends and what happened

A stealer with a taste for pizza delivery. Shopping and food ordering via mobile apps are routine user behaviours. However, 2025 demonstrated that even downloading a seemingly legitimate app from an official app store does not guarantee safety, nor does it ensure that user data and financial credentials will not be compromised.

Ransomware detections in the B2B sector increased due to a single dominant actor. The number of unique users in the Retail & E-commerce sector who encountered ransomware detections increased by 152% in 2025 compared to 2023 (Nov 2024 – Oct 2025 vs. Nov 2022 – Oct 2023).

The most significant growth occurred during the 2024-2025 period and is largely attributable to the rapid spread of the Trojan-Ransom.Win32. Dcryptor family, which became highly prevalent across the retail and e-commerce sector in some of the analysed markets. This malware is a trojanised ransomware variant that leverages the legitimate DiskCryptor utility to encrypt disk partitions on victim systems.

Phishing activity in the online retail segment stood out. Despite being a long-established attack technique, phishing remains highly prevalent in the context of online purchasing.

From November 2024 through to October 2025, Kaspersky products blocked 6,651,955 attempts to access phishing links targeting users of online stores, payment systems, and delivery services. Of these attempts, 50.58% targeted online shoppers, 27.3% impersonated payment systems, and 22.12% targeted users of delivery companies.

Sales seasons continue to do the work for attackers. Seasonal peaks in online shopping consistently provide attackers with predictable opportunities to scale user-focused attacks.

Periods of heightened promotional activity lower user vigilance and allow familiar phishing and spam scenarios to blend into legitimate marketing traffic, increasing their overall effectiveness.

Predictions: What retail & e-commerce cybersecurity might face in 2026

Chatbots are likely to become a common product discovery tool across online marketplaces. Unlike traditional search, conversational interfaces encourage users to share more detailed, natural-language requests, revealing preferences, constraints, and contextual information.

This shift expands the privacy attack surface, as platforms accumulate richer user profiles through chat interactions. As a result, chatbot logs may become as sensitive as transactional data, increasing the risks of over-collection, misuse, or exposure of personal information.

“Search itself is changing, including how people look for products online. In 2025, there was a gradual shift from simple keyword queries to more conversational and visual ways of finding what to buy. As these models rely on broader user input, careful handling of the data involved will remain an important consideration for maintaining user trust,” comments Anna Larkina, Web data and privacy analysis expert at Kaspersky.

Changes in taxes and trade rules might be exploited in online fraud. Modifications in taxes, import duties, and cross-border trade rules are likely to be used as lures in phishing campaigns and fraudulent online stores, promoting unrealistically cheap offers or claims of avoided fees.

As pricing and fee rules continue to evolve across markets, it may lower vigilance, increasing the effectiveness of such schemes, particularly against small and mid-sized retailers.

AI-powered shopping assistants are expected to increasingly operate outside retail platforms, embedding themselves into browsers, mobile apps, and third-party services. While designed to simplify navigation and price discovery, these tools shift data collection beyond the retailer’s perimeter, creating new and less visible privacy risks.

To function effectively, external AI shopping agents require continuous access to user behaviour, including browsing activity, search intent, location context and product interactions across multiple sites.

This enables the aggregation of detailed behavioural profiles outside the direct control of both users and retail platforms, increasing the risks of over-collection, opaque data usage, and unintended exposure.

Image-based product search might become a new challenge in privacy risks. Previously, the main privacy concern around user images in e-commerce was limited to photos voluntarily shared in product reviews.

However, image-based product search is expected to make photo uploads a routine part of the shopping experience across major retail platforms. While this feature improves product discovery, it also increases the risk of unintended exposure of personal data.

User-submitted images may contain faces, home environments, or sensitive details, such as names, phone numbers, or addresses visible on shipping labels or packaging, making secure processing, data minimisation, and limited retention critical requirements for retailers.


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Elon Musk Seeks $134Bn from OpenAI, Microsoft for ‘Wrongful Gains’

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Elon Musk, billionaire Tesla owner, has asked a United States (US) federal court to award him up to $134 billion in damages from OpenAI and Microsoft, stating that the companies earned “wrongful gains” from his early support of the artificial intelligence startup.

Elon Musk Seeks $134Bn from OpenAI, Microsoft for ‘Wrongful Gains’

Elon Musk,

This is according to a court filing, reported by Reuters.

In filings ahead of a trial expected to start in April in Oakland, California, Musk stated that OpenAI benefited between $65.5 billion and $109.4 billion from his contributions when he helped co-found the organisation in 2015, and Microsoft gained between $13.3 billion and $25.1 billion through its involvement.

He has asked a United States (US) federal court to award him up to $134 billion in damages from OpenAI and Microsoft, stating that the companies earned “wrongful gains” from his early support of the artificial intelligence startup.

This is according to a court filing, reported by Reuters.

In filings ahead of a trial expected to start in April in Oakland, California, Musk stated that OpenAI benefited between $65.5 billion and $109.4 billion from his contributions when he helped co-found the organisation in 2015, and Microsoft gained between $13.3 billion and $25.1 billion through its involvement.

Musk’s legal team argues that his early financial and strategic contributions, including approximately $38 million in seed funding, the recruitment of key personnel, and assistance in connecting founders with contacts, laid the foundation for the later success of OpenAI and Microsoft’s commercial AI efforts.

“Without Elon Musk, there’d be no OpenAI. He provided the bulk of the seed funding, lent his reputation, and taught them all he knew about scaling a business. A pre-eminent expert quantified the value of that,” Musk’s lead trial lawyer Steven Molo told Reuters.

“Just as an early investor in a startup company may realise gains many orders of magnitude greater than the investor’s initial investment, the wrongful gains that OpenAI and Microsoft have earned—and which Mr Musk is now entitled to disgorge—are much larger than Mr Musk’s initial contributions,” the filing said.

Musk, who left OpenAI’s board in 2018 and now leads AI company xAI, alleges that OpenAI violated its founding non-profit mission when it restructured to include a for-profit arm tied to Microsoft’s investment and commercial strategy.

Meanwhile, OpenAI has labelled the lawsuit “baseless” and part of a “harassment campaign” by Musk, and Microsoft’s legal team has said there is no evidence the company “aided and abetted” OpenAI in any wrongdoing.

Both companies have asked the judge to limit what Musk’s expert witness may present at trial, arguing that the damages calculations are unreliable and could mislead a jury.

According to Reuters, Musk’s filing says he may pursue punitive damages and other penalties, including a possible injunction, if the jury finds the companies liable, though it did not specify what form any injunction would take.


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Nigeria Targeted with 4,622 Cyber-attacks Per Week in December 2025

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In December 2025, organisations globally faced sustained cyber pressure, as the average number of cyber-attacks per organisation per week reached 2 027, a 1% increase from the previous month and a 9% increase from December 2024.

This is according to December 2025 Global Cyber Attack Statistics by Check Point Research, the threat intelligence arm of Check Point Software Technologies.

According to the statistics, Latin America was the hardest hit, with companies experiencing an average of 3 065 cyber-attacks per week, a 26% year-over-year increase.

In contrast, Africa saw a decline in attacks, with Nigeria (4 622 attacks per week) and Angola (4 002 attacks per week) being the most targeted countries on the continent.

The report’s findings highlight the evolving cyber threat landscape, with ransomware and GenAI-driven data risks posing significant challenges to companies worldwide.

Ransomware attacks jumped 60% year over year, with 945 publicly reported incidents in December. Qilin was the most active ransomware operator, responsible for 18% of publicly disclosed attacks.

“Ransomware continues to scale through industrialised operations, while unmanaged GenAI usage is creating widespread data exposure at enterprise level,” said Omer Dembinsky, data research manager at Check Point Research.

The report noted the education sector was the most targeted industry globally, with 4 349 cyber attacks per week; followed by government (2 666 attacks per week); and associations and non-profits (2 509 attacks per week).

The widespread adoption of GenAI tools has introduced new cyber security risks, with one in 27 GenAI prompts posing a high risk of sensitive data leakage.

Experts warn that companies must prioritise prevention-first security, real-time AI threat intelligence and strong governance over AI tools to mitigate these risks.

Hendrik de Bruin, head of security consulting at Check Point Software, added: “Strengthening ransomware resilience, deploying AI-powered prevention and enforcing clear GenAI governance will be critical to reducing cyber risk in the year ahead.”


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