Business
MR Adams Paul, Founder of Oasis ICT foundation, Abuja, has urged start-ups to embrace inclusive innovation and values in their craft and networking their innovations so as to overcome technology adoption challenges.
Paul, whose foundation is into digital marketing, made this statement on Tuesday in an interview with News Agency of Nigeria (NAN) on Tuesday in Abuja.
He urged the start-ups to network with other members with the technology space, offline and online as this helps them to work smart and collaboratively.
“ Embracing the inclusive community helps startups meet their basic needs, engage actively, and contribute to their community.
“ It also ensures consistency and accessibility to latest innovation,’’ he said.
Paul said that start-ups in Africa faced challenges related to technology adoption and innovation.
He added: “ Many start-ups in Africa operate still using traditional methods, which limit their efficiency, productivity, and competitiveness.
“ The lack of access to technology, training, and education can make it challenging for start-ups to adopt new technologies and innovate, further limiting their growth potential.’’
Paul added that Nigerian start-ups often lack the collateral and credit history required to access formal credit, making it challenging to secure financing from banks and other financial institutions.
“ Limited access to finance makes it difficult for them to invest in technology, expand their operations, and innovate.
“ They play a crucial role in the economic growth contributing significantly to job creation, poverty reduction, and economic growth and development of many countries, particularly in developing regions like Africa.
“ However, in spite of their importance, SMEs in Africa face several challenges that limit their growth and competitiveness,’’ Paul said.
He further urged start-ups to embrace inclusive innovation that would benefit communities as it will spread access to technology, training, and education
“ It will enable the grassroots easily adopt new technologies and innovations.
“ It will improve their growth potential by providing a platform for sustainable and inclusive practices,” Paul said.
NAN reports that technology adoption refers to the process of accepting, integrating, and using new technology in all aspects of the society. (NAN)
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August 22, 2023 @ 16:48 GMT|
Tags: Adams Paul
