Nigeria is now confronting a new reality of lower oil prices, with cyclical and structural forces undermining the traditional growth paradigm. Technology more than ever is a lever that will help transform and diversify the economy
There are two key ways Intel believes that technology can help transform the economy and they are through
- a) Innovation and
- b) Entrepreneurship.
Intel has been operating in Africa for 16 years, and we remain committed to providing innovative technologies partnerships, investments through Intel Capital and cutting edge products that enable innovative companies and entrepreneurs leap frog the infrastructural deficit and drive growth
Intel focuses on supporting technology enabled industries and drivers of economic growth like Education, Finance & Banking, Manufacturing and the Professional Services.
Entrepreneurship
Studies by the International Finance Corporation (IFC) show that approx. 96% of Nigerian businesses are SMEs compared to 53% in the US and 65% in Europe.
However SME’s contribute approx. 1% of Nigerian’s GDP, compared to 40% in Asian countries and 50% in the US or Europe.
The low level of contribution can be attributed to several constraints; funding, infrastructure but also a lower level of productivity which can be bridged through technology
There are several challenges facing the Nigerian SME, and they are mainly;
- Education (Upskilling, Digital Literacy, Mentorships etc.)
- Funding and Availability of materials
- Research Capacity (Discovering new markets for goods and services)
- Interconnectivity/Networking (expertise and knowledge exchange)
Solutions
At Intel, we do more than power a PC, We empower and enable youth, and women in Nigeria and around the world to become a viable part of the global knowledge economy by providing support for them to develop relevant technology skills that will increase their opportunities in the market, and help them thrive as entrepreneurs. Through programs like;
Intel® She Will Connect: The Intel® She Will Connect program is initiated with an objective of reaching 5 million women and girls by 2020 through collaboration with a diverse set of partners including global, local NGOs and governments. Over 800,000 women and girls in Kenya, Nigeria, and South Africa have already benefited from the program.
Entrepreneurship Programs: Intel® Entrepreneurship Programs build on Intel’s heritage of innovation and education in collaboration with governments and other partners, creating a strong global entrepreneurship network in which Intel serves as a trusted advisor.
Intel Teach: Over 150 thousand teachers have been trained, in Nigeria in partnership with USPF, federal & state governments and Intel business partners in Nigeria empowered to continue to deploy/offer Intel teach trainings as a value added service along with Intel device offering to public and private sector clients.
We also foster strategic partnerships, funding, to the creation of enabling environment for new ideas; through our Investment arm – Intel Capital
Intel Capital: is dedicated to facilitate further economic growth in the region by supporting the local Venture Capital ecosystem and entrepreneurs in the region. We want to boost venture capital opportunities and form foundations for long-term economic growth.
Intel Capital continues to invest in innovative technology start-ups and companies in Africa, since 1991 Intel Capital has invested over $1.2 billion in over 150 companies in EMEA.
Innovation
Disruptive innovative ideas like Uber (where the use of technology is critical to the scaling and seamless engagement of partners and customers) is a direct point to the need to cultivate young African makers and developers.
Collaboration and partnership models are gaining traction, with companies like Samsung, Microsoft, Google, Vodafone and of course Intel having direct engagement with local Tech Hubs in Kenya, Nigeria and South Africa bringing technical support and marketing resources to a large number of ISVs.
These tech hubs serve as centralized developer channels for ecosystem players to engage with ISV’s, however African ISVs report a gap in African markets for tools and learning resources for developers.
Solution
At Intel we constantly engage inventors, developers and makers from around the world to bring to life their ideas and creations. In Africa we are also engaging with these developers through our Software and Services Group (SSG) in collaboration with innovation hubs. In Nigeria specifically we have:
- Launched Intel Developer Zone in 2015 with CCHUB, with over 1806 new sign ups and growing engagements.
- Launch of the Innovator “Lite” Student Partner Program with 3 Major Universities in Nigeria.
- Collaborated on the App-Circus Africa event with 25 applications and 60 participants, and Intel Sponsoring 1 winner to MWC 2016.
- Trainings: Innovation Hub partner and Innovators are constantly been trained.
- Launch of the Developer Champs Online Scale Program resulting in 450 registrations, and 230 developers trained.
Conclusion
For every U.S. dollar invested in employability skills, US$10–15 can be generated to drive economic growth and national competitiveness.
In conclusion, Intel is committed to pioneering innovation that empowers billions of people and businesses every day. We work tirelessly to bring the world smarter and faster products by building the essential technologies to shape a new era in which everything computes and connects.
