Can you make $1billion in Nigeria tech without government patronage or restriction?
I think a better question would be ‘Are the systems in place for you to create $1bn in tech value in NIgeria’ ?
And the answer is no
Money begets money
Are local investors generally ~$500,000 for ~10% pre seed/seed investment bullish ?
Whenever I see bullish and less than $100,000 total seed funding on the same line. I
Support is non existent
It’s not going to be a >35 year old person that would build the $1bn tech company in Nigeria, however that age group are the people with the network, experience to mentor the type/groups of young talents that can take the risks and do the grunt hardwork to get that venture started.
This leads to what are the initial success stories doing to drive more participation beyond social commentaries on how hard it is to survive in Nigeria or some other non startup related topic ??
You hear the early stories of Facebook, Ubercab, Airbnb, Paypal, X.com etc … everyone coming after them had concrete facts and relatable guidance on what to do and avoid in order to get your ideas stress tested and capitalized. I don’t know jack about Konga, Jumia, IrokoTV, Paga, Ulesson etc … point is without documentation there can be no progress.
We are not critical thinkers
You don’t just make $1bn tech, you solve a lot of challenges to create $1bn value.
I spend time on here, and people are comfortable not getting their ideas rocked, stress tested etc. and just fine with mediocre social generalizations.
I mean I could reply to this and all I would get is a like from someone who is in a position to fact check all my statements, point out possible errors and rock my point of view so that I come out of this smarter and better informed.
But we don’t get that, how do you then expect to have the $1bn tech insight or even have the mentality/personality to actualize it. If your idea or knowledge is not battle tested or you shy away from situations that build you mentally to overcome $1bn barriers.
If that’s the norm then shit you need government crutch/patronage to make $1bn in Tech, and pray you are effectively lobbying the right people else you are stuffed if situation changes.
You just said it all
… After reading Small business big money I discover government will only care about your money patronage is difficult… So making 1billion first hmmmmmm it’s well
Yes I believe its possible. I saw this graph on twitter on how a company can strategically make 100 million dollars annually. If done over 10 years, that is 1 billion dollars. Here is
@Ifeco3show, as an experienced start up reporter with probably more knowledge than we all do on this topic. What do you think ???