Top 5 Nigerian institutions that should invest in tech startups, but are not

It is very disheartening to a large extent that some institutions in our country which form a significant part of it too, are not living or performing up to their expectations as they are offering virtually nothing to the society. They have just decided to focus on their own aggrandisement even when they could do well by investing in tech startups near them.

While it isn’t a must for these institutions to invest in such startups, it is very necessary that they do, especially given how much they get from the society and the amount of influence they wield on the Nigerian people. If they do encourage these startups with investments, it would sure put on an upward spiral the emergence of more tech startups.

At this point, how much more do we have to emphasise that the future of Nigeria lies in technology? I’d be listing for our common reasoning some institutions that would do well to invest in tech startups springing up on a daily around us.

Religious Institutions

Pastor Godman Akinlabi, the Lead Pastor at The Elevation Church, while speaking at a recently concluded programme on entrepreneurship, Techpoint Inspired, said (to religious organisations): “don’t ask people to give when you are not contributing in any way to how they make money”.

Actually, I so much align with his school of thought. To be honest, our religious organisations – churches and mosques – are very fond of asking from their members while not contributing to the society.

While it is good and very faithful for the members to give, don’t you think the same should apply to the institution? And a good way to do this would be by accelerating some tech startups (even with equity) in the country. They do have the funds to do that.

Educational Institutions

Educational institutions

Yes, education is excellent, we all know that, but I think it is high time some of these schools start doing things differently. You can’t keep churning out “graduates” who only go to the streets to look for employment. If the trend continues this way, in a few years time, no one will create jobs.

There are a lot of student tech startup founders in Nigeria, and it would do the whole country a lot of good if educational institutions can start accelerating some of these, as a major problem they face is funding.

Charity Organizations

Charity organizations

First, we need to appreciate the fact that these organisations are doing well to make life easy for the populace, but how about making startup easy for the founders? With these investments, they can even raise more funds for themselves too to continue the good work they have embarked upon, don’t you think?

Government

To be honest, in particular to Nigeria, I am very disappointed in our Government and how they have taken startup with so much levity. I expect there to be a lot of tech startup accelerations to help their founders impact the society in the best way.

But no, other institutions in other countries have taken over angel investing and accelerations in Nigeria. Why so?

Corporate Institutions

It is very sardonic that as many corporate institutions that we have in Nigeria, only a few of them have decided to invest in tech startups around, knowing fully well that these startups are an important fact of our growth and future as a country. Well, I think they should start doing so now.

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This isn’t just a list, but a wake-up calls to all these institutions and even more to start taking part in our future. Tech startups are not just a part of our future as a country; THEY ARE OUR FUTURE, LET’S NURTURE THEM.

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