The Vice President, Professor Yemi Osibanjo, said that startup ecosystem is one of the vital tools in finding solutions to Africa’s various challenges. According to him, these challenges will determine if the continent’s future as the next frontier for economic opportunities will fully be realised.
The VP, represented by Director General, National Information Technology Development Agency (NITDA), Mallam Kashifu Inuwa Abdullahi, said this at the Startup and Developer event organised by Google.
He stated that the topic – The African Start-up Ecosystem Opportunity – is exciting because startup ecosystem is extremely critical to the future of Nigeria and Africa at large.
“Globally, the Startup ecosystem is the most viable platform for innovators and entrepreneurs to take their ideas from inception to impact. It brings relevant stakeholders together to collaborate and bring something new to the world or new to an industry. There will never be a more perfect time to strengthen the African startup ecosystem than now, on the verge of the 4th industrial revolution,” he said.
Osibanjo noted that the 3rd industrial revolution was pivotal to unprecedented global economic growth in the 21st Century, as it disrupted traditional service delivery channels and accelerated the automation of factories and manufacturing processes, using electronics and information technologies to expand the reach and create prosperity but Africa hopped along and missed out.