It is a showcase of the driving forces behind the Nigerian ecosystem scene.
According to The Nigerian Start-up Ecosystem Report 2022, “Nigeria is one of the longer-established start-up ecosystems on the continent, with leading lights like Interswitch founded as far back as 2002. . .”
The country boasts a large consumer market, and its erstwhile capital, Lagos, is regarded as a leading start-up hub in Africa. Nigeria numbers among the big four ecosystems on the continent with South Africa, Kenya, and Egypt. It is also home to five of Africa’s unicorns—Interswitch, Jumia, Flutterwave, Andela and OPay.
FinTech is the foremost sub-sector of the Nigerian start-up ecosystem, both in terms of levels of activity and amounts of funding secured. The sector has birthed creative and innovative founders such as Mitchell Elegbe, Olugbenga Agboola, Iyinoluwa Aboyeji and Shola Akinlade who have inspired a whole new generation of start-up entrepreneurs and activities in the country.
While founders are mostly the main characters (the face) of the Nigerian start-up ecosystem, other supporting acts help them propel this vibrant environment. And they appear as a combination of individuals and institutions – incubators, accelerators, tech Hubs, investors, media, universities, and government agencies.
Together, they drive Nigeria’s innovative start-ups to success. Below are some of the most notable enablers:
Incubators and Accelerators
Tech Hubs I Tech Communities I Co-working Spaces
Investors
Events I Government Agencies I Media
Indeed, it takes a whole cast and crew to form the robust support system empowering Nigerian start-ups to innovate, grow, create employment, influence, and leave a lasting impact in their immediate communities and beyond.
This article and the accompanying images, by Yassin Elhardouz, first appeared on LinkedIn.
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