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By Henry Uche
SystemSpecs Holdings Limited (SHL), has joined other organisations in support of youth-driven innovations and technology adoption as well as perseverance as requisites for startups to thrive which undoubtedly promote sustainable future.
This was made at the 2023 Innovation Makers Challenge (IMC) Conference held recently in Lagos.
The IMC is a maiden youth-centric event by the Telecommunications and Technology Sustainability Working Group (TTSWG). The conference convened stakeholders, tech enthusiasts, and industry experts from both within and beyond the country, providing an avenue for exploring emergent technologies. The event featured keynote speeches, panel discussions, exhibitions, and a pitch fest.
Henry Eguabor, Head of Brands & Marketing, SystemSpecs said, “Our involvement at this year’s IMC was a compelling affirmation of the dynamic nature of the technology landscape. The event provided a nexus where innovation seamlessly blended with inspiration, underscoring our unwavering dedication to sustainability and recognising the crucial role technology plays in shaping our shared future.
“The event afforded us invaluable insights into emerging trends and strengthened our conviction in the significance of fostering collaborative efforts to propel positive change” he maintained.
In another forum, Adekunbi Ademiluyi, Managing Director of HumanManager Limited (HML), underscored collaboration and perseverance as critical factors for building successful startups.
At the recently concluded WorldStage Economic Summit (WES) held in Lagos, Ademiluyi who represented John Obaro, Group Managing Director of SHL, in a keynote address on ‘Startups Journey from Conception to Launch’, stressed the importance of entrepreneurs following their passion and employing out-of-the-box thinking to achieve success.
“Achieving enduring success involves seamlessly integrating strategic alignment, purposeful innovation and pragmatic problem-solving. The foundational step towards long-term efficacy lies in comprehending market needs and aligning organisational goals accordingly”
SHL boss affirmed that Community engagement goes beyond surface-level interactions; but demands an in-depth understanding of their requirements. “This pivotal process is transformative, converting abstract concepts into scalable solutions and establishing a resilient business model with a compelling value proposition” he added.
Segun Adeleye, WorldStage’s President /CEO, reiterated the organisation’s commitment to actively support emerging startups globally. Adeleye pointed out a concerning rise in unemployment and underemployment rates, citing National Bureau of Statistics data that peaked at an unprecedented 56.1% in 2020.
“This surge has added 133 million Nigerians to multidimensional poverty, highlighting challenges in the economic landscape, including reduced productivity and insufficient growth in traditionally high-employment sectors”
Ademiluyi; Tim Akano, the CEO, New Horizon Nigeria, and Mayowa Oludare, Editor-in-Chief of Global Financial Digest, during a panel session on “Providing an Enabling Environment for Startups,” offered insights into navigating the intricacies of building successful startups.
“Leveraging her extensive experience, Oludare accentuated the importance of collaboration and a resilient organisational culture within startups, identifying these factors as strategic entry points for potential investors.
“Strategic partnerships constitute the foundational framework for successful businesses. Presenting your idea to discerning individuals who grasp its potential is not just a formality, but a calculated step. It involves aligning with collaborators who not only comprehend the essence of the concept but also envisage its trajectory. It’s a methodical and intentional process, where connecting with the right minds and investors is crucial to translating concepts into enduring success” she remarked.
Ademiluyi stressed the importance for budding entrepreneurs to prioritise market share and profitability from the outset, rather than simply focusing on the launch itself. “Launching an enterprise is not the ultimate goal; going live is about monetisation, customer satisfaction, and market creation.
“Asking the right questions during ideation is crucial. Challenging the status quo, identifying unmet needs and desires, creating genuine value, and establishing a legal structure are apt”
She accentuated the enduring nature of conceptualisation and the crucial need to mold ideas into robust solutions, equipped to navigate challenges in feasibility, adaptability and scalability.
“Conceptualisation is not a fixed starting point but a dynamic catalyst propelling ideas beyond mere conception and into the domain of tangible, impactful, and real-world solutions. Aspiring entrepreneurs must acknowledge that the path from ideation to implementation is an ongoing process of sculpting and refining ideas, laying the groundwork for lasting success”
On brain drain caused by the ‘japa’ (Nigerian slang for emigration) phenomenon, she urged the government at all levels to enhance infrastructure improve the educational system and social factors, saying, “immigration is a global issue, but within every problem lies an opportunity. Nigeria has abundant opportunities that can be harnessed by making the country more conducive.”
While Akano concurred with Ademiluyi, affirming that triumphing for a building startup, is a challenging journey that requires persistent navigation through obstacles. He emphasised that prioritising problem-solving and transforming challenges into opportunities serve as the compass for enduring success. He acknowledged that the initial stages often present rocky patches but stressed that passion and perseverance enable entrepreneurs to overcome challenges in the build-up stages.
