The Tech Vantage

The Spark | Ignite / Connect / Achieve
www . the sparkng.co m
the growth of startups, Itanna is tapping
into Honeywell Group’s rich experience
of incubating and growing businesses,
extensive network of technical and development
partners, knowledge of the
operating environment and proven access
to capital, amongst others.
Why now?
Nigeria is arguably the most important
tech startup environment in Africa right
now because there is a new wave of entrepreneurs
looking to use tech to revolutionize
the way business is done in
Nigeria.
Nigeria is also on track to attract more
venture capital in 2019 than its Southern
African and East African counterparts,
given the number and sheer size of equity
investment deals consummated
in Nigeria in 2018. Similarly, two of the
world’s biggest tech companies, Google
and Facebook (NG_Hub), opened
their own hubs and launched accelerator
programmes in Nigeria in 2018. Clearly,
Nigeria is the trigger and ignition point
for Africa’s tech revolution and Itanna is
looking help ignite and fuel the revolution.
Looking Forward
Itanna’s plan is to build a top accelerator
programme in sub-Saharan Africa. We
plan on going beyond Nigeria and Africa.
Due to our reach and value add, we
received applications for both our first
and second cohorts from over 10 African
countries.
One key area of focus over the next 1-2
years is to do more outreach to other
African countries. Also, within our direct
investment scheme, we are positioning
ourselves as the partner of choice for
startups looking to enter the Nigerian
market through Honeywell and its extended
network.
In a nutshell, our ambition is to help build
an ecosystem of tech and tech-enabled
companies that not only create value
and disruptive innovation but can also
compete on a global scale in terms of
market valuation.
The Government’s Role
significantly improve the ease of doing
business in Nigeria. We have to make
it easier for businesses to register and
obtain permits. We should also make
-
cially elimination of multiple taxation.
Government should also consider tax incentives
for emerging startups.
Finally, we must continue to invest in
STEM education and research. We need
to promote the type of education that
will provide young Nigerians with the
skills and competences required for the
21st century and beyond.
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