The Ministry of Communications Technology hoped to create 25 sustainable Information and Communications Technology businesses that are fundable soonest.
According to the Minister in charge of the ministry Mrs. Omobola Johnson, in Lagos, this move would provide the opportunity for Nigeria to raise software giants that will create jobs and wealth.
Besides, she said such initiative would make the country to become a regional and global players like Indian IT service providers (such as Tata Consultancy Services, Infosys, Cognizant, Wipro and HCL Technologies), stressing that these are indigenous compaflies that were created, nurtured and established in India, but servicing global markets.
Johnson, at the close out ceremony for TechLaunch Pad first edition and launch of second edition, noted that the role of ICT innovation is in creating knowledge-based societies, jobs and wealth for citizens, stressing that the mandate of the ministry includes promoting the growth of the ICT industry.
"What we are doing today is part of the bigger plan that will strengthen innovation ecosystem and grow the digital economy in Nigeria. We are working to refocus the efforts of talented software developers in the country of not just writing code and developing applications, but creating successful and viable companies around the software that they are developing to create jobs and wealth - what has been called a "Companies not Code" approach," she stated.
According to her, the programme is expected to create minimum of 25 sustainable ICT businesses that are fundable, increase the participation and investment of the Venture Capital and Private Equity managers in ICT in Nigeria, with an eye on over $100 million in the next few years; increase footprints of Nigeria young ICT companies in Africa as solution and service providers and create jobs.
Speaking on the techlaunch pad's journey, the ComTech minister said there was a meeting with the Chief Information Officers of banks and oil and gas in 2012 to identify issues affecting the patronage of local software entrepreneurs and solutions to address them. She said this led to the birth of Techlaunchpad which was inaugurated in December 2012, and the subsequent admission of eight tech startups that applied for the programme in July last year.
According to Johnson, the collaboration with partners, namely Accenture, FirstBank, Access Bank, Exxonmobil, Totalfina Elf, Chevron, Fate Foundation to mention few have been tremendous both in cash and in kind to see to the development of the business and product of these young Nigerians.
"I received reports of the mentorship and training granted to these startups despite limited time available by the Executives. Needless to mention the support that our flagship incubation centre called iDEA provided to them during the eight months' accelerator programme. Such support includes mentorship, training, business advisory service, office space, connectivity and infrastructure services," she stated.
Going forward, the minister said there would be continued support for the first edition startups in the areas of access to finance and market; network of professionals such as investors, mentors among others; access to subsidised incubation resources for a certain period of time.
She informed that there will be technology events, exhibition that can showcase their solution to prospective investors and buyers; refine and improve on programme plan for second edition; expand the network of resources in the second edition, that is more mentors, more VC forum, pitching sessions, market readiness programme and create partnership with global technology companies to assist in advisory services and mentorship.
"As more entrepreneurs like Jumia, Konga, Jobberman begin to emerge across the country, we will gradually evolve into an innovation hotspot in Africa. Through this, our young men and women will be gainfully employed through enterprises that will come out of this," she stated.
Source: Guardian