OFFICE FOR ICT INNOVATION & ENTREPRENEURSHIP (OIIE)
In the new economy, innovation has become very crucial for value creation, job creation, wealth creation, economic growth and national competitiveness. All over the world, innovation takes place at the enterprise, state and national level, while leading to new businesses as well as to the increased competitiveness of a nation.
Innovation is defined as “the process of translating an idea or invention into a good or service that creates value or for which customers will pay”. It addresses specific needs, be it social, political or economical.
This creative force called innovation is made real to us by its fusion with entrepreneurship, which is defined as the “the capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit.”
The real power of innovation comes from making it relevant to people. It is about commercialising the innovation; converting the ideas to products or services or solution; building a business venture out of it that in return creates job and wealth. Without the entrepreneurship, innovation is like a cart without wheels.
EMPOWERING ICT INNOVATION IN THE NIGERIAN SPHERE
The bridge between innovation and entrepreneurship is the creation of incubators and accelerators to help people with innovative ideas in developing their ideas into products or services that can be commercialised.
Supporting the industry players and practitioners in the establishment and operation of incubators
Through initiatives such as Techlaunchpad, we are supporting the tech startups to accelerate their business development
Funding is a major challenge to entrepreneurs. We will work with key stakeholders to galvanise direct and indirect funding for the ecosystem