The world continues to suffer from the dreaded coronavirus disease and as at the time of writing, the total number of people affected is almost one million globally. The death toll for Spain on this particular day is nearly hitting 900, while the United States is about 1,000.
The world has suddenly realised how vulnerable we are to diseases and quite frankly, this gives us all the opportunity to give recognition to and appreciate those who work in the health-care sector.
In the case of Nigeria, we have taken some bold steps that will help us flatten the curve and that includes, the shut-down of the key cities that have had the most infections. However, some of the questions in the minds of many are simply these; how long can the average Nigerian stay at home without the need to go out and seek for daily bread? What happens to all those start-ups that are already struggling to survive? How would they get back on track?
Last week’s edition of this column focused on start-ups and innovation centres, who are trying their possible best to add value. From the #COVID19InnovationChallenge by Ventures Platform that has now the selected start-ups in incubation, to innovation centres that continue to build prototypes, should the situation get out of hand. God forbid. Not forgetting numerous start-ups partnering to make a difference and help fight the COVID-19 disease.
As of the time of writing, the United States reported an unemployment figure of about 6.6 million, which is the highest for over a decade. Now, that is the US. What will be the case in Nigeria? How will the innovation community that has made our country proud, cope with the new realities?
In advanced economies, governments have come up with policies that directly support their ecosystems. For example, Germany is offering to cover 60 per cent of the new salaries for employees reduced from full to part-time and the UK is considering a “ Runway-Fund”, with a convertible note scheme for companies that cannot access bank loans.
These are moves and initiatives designed to cushion the negative effects of the pandemic on the various ecosystems. The biggest on my mind has been, what becomes our fate? Would people leave all the great projects they have been working on? Obviously, we are likely going to face another recession.
It excites me to learn that, the Director-General of the National Information Technology Development Agency, Kashifu Inuwa Abdullahi, has inaugurated a 10-member advisory committee to advise the government on measures to be taken to cushion the impact of the COVID-19 pandemic on start-ups, small and medium businesses, as well as the technology ecosystem.
The committee has the Chairman, Innovation Support Network, and President, African Business Angels Network, ABAN, Mr Tomi Davies, as its chairman.
Other members of the committee are MD/CEO, Outsource Global, Amal Hassan; MD/CEO Co-Creation Hub, Bosun Tijani; Chairperson Jumia Nigeria and — Finish Reading on the Punch
