The digital era has brought a pivotal digital shift in the global economy, pushing the limits of innovation and redefining the boundaries of global trade. Fast-paced technological innovations are changing the world of work with some jobs transforming faster than others.
Innovation is set at the center of the much-needed growth in Nigeria with its vibrant and growing tech sector is yet to reach its full potential. Therefore, in order to expand innovation and entrepreneurship in the country, there’s a need for an informed presence and interaction between the government and actors in the tech entrepreneurship ecosystem.
In my recent chat with Wale Kuku, CEO of F1 interactive on tech trends show, he shares how Nigeria can join the list of highly innovative countries.
CFA: Wale, glad to have you on the show today.
Wale: Thank you for having me.
CFA: Let’s get started. What’s your opinion about the state of innovation in the country today?
Wale: I think we’re doing okay. Fintech is doing a great job. We’ve been pulling our weight with fintechs, with more innovative financial services. I believe we’re doing better than the West. Telemedicine too is on the rise with innovative startups coming up, especially in the face of this crisis.
But, I’ll say we’re just scratching the surface because we’re not seeing much deep tech; we’re not seeing much in hardware and we’re not seeing much in terms of security. Security is a big issue in Nigeria today and we need a lot of innovation to curb security issues in the country.
CFA: The COVID-19 pandemic made it quite difficult to run a startup or an organization, but of course, we know it’s possible to see opportunities in crisis. So, how would you rate the ability of organizations based in Nigeria to evolve above the crisis?
Wale: I think the crisis was a two-way thing for Nigeria when it comes to technology and even the world. I mean, we saw the top ten richest people in technology get richer. Crisis and problems are opportunities and if we can solve those problems creatively and disruptively, that is innovation.
CFA: Okay, Wale. How do we get organizations that are not as nimble as startups to innovate or make innovation occur naturally within their organizations.
Wale: I think training is a fantastic way to do that. I’ve been training organizations for the past four years on innovation.
You can watch the full interview here.