Technology and Innovation Provide opportunities for Nigeria to Increase her Market if Enormous and deliberate investments Have Been made towards that.
Startups and Tiny Companies are the engine that Can Induce such economic Growth in our Nation and in Africa in large.
Therefore our Youthful population becomes a Fantastic Benefit when they Eventually Become entrepreneurs. We bring you 10 Complex Startup Businesses Based on young Nigerians, Which are making Enormous impacts in Various sectors of the economy.
They are attracting foreign investments to the Nation,they’re solving Large problems,Generating jobs and driving innovation in Nigeria.
10 Most Innovative Startup Companies in Nigeria 2020
54gene was launched in January 2019 by Dr Abasi Ene-Obong to deal with substantial gap in the global genomics market. The company is unlocking the African genome there by constructing African genetic data sets to earn landmark discoveries and to encourage therapeutic development.
As of 2018less than 3% of the data utilized in Genome-wide Association Studies were of African American ancestry and currently, less than 1% of global drug discovery happens over the African continent. Located in Africa’s most populous nation, Nigeria, and also at the US, 54gene aims to enhance the development, efficacy and availability of health care products that will prove advantageous to Africans and the broader global population.
As part of its next phase of growth, the business will further explore opportunities and partnerships for co-development of drug targets and therapeutics, and expects to partner with pharmaceutical, medical device and diagnostic companies such as clinical programs in Africa. 54Gene has attracted $19.5 million in overseas investments.
Agriculture offers Nigeria a great financial advantage and global relevance. This is where Farmcrowdy has positioned itself.
Farmcrowdy is Nigeria’s first digital farming platform and a globally recognised Agritech company that joins small scale farmers across Nigeria with smart farming methods, quality farm inputs, and access to wider markets to earn a nice profit margin in comparison to what they are utilized to earning in their own locality.
Farmcrowdy has a vision to be the foremost electronic agriculture platform in Africa admired for its effects on collaborative food creation and fostering food safety across the continent. The effect of its actions is great: enabling smallholder farmers as a means of contributing to increasing domestic food production and safety.
So far, over 12,000 rural farmers are able to keep work, expand farm operations five times longer and boost their income by 80% since Farmcrowdy launched in November, 2016.
Lack of a global fintech company that fully supports Africa’s ecommerce ecosystem has been a major setback in the growth and development of ecommerce in the continent.This is the problem that Flutterwave has set out to address.Flutterwave was founded in 2016 by Iyinoluwa and Olugbenga Agboola,to provide technology,infrastructure and offer services to enable merchants,payment service providers,banks and businesses build secure and seamless payment solutions.
The company has achieved a great deal so far and has raised $64.5 million in funding, announced partnership with Worldpay FIS, and has launched an e-commerce platform for SMEs.
Flutterwave is making strides, even technologically, in building future-proof and resilient products in a dynamic environment.
Kobo360 is a digital technology platform disrupting African third-party logistics.The company operates a tech enabled digital logistics platform that aggregates end-to -end haulage operations to help cargo owners,truck owners and drivers achieve effective supply chain framework.Launched in 2017 by Obi Ozor and Ife Oyedele II, Kobo360 uses big data and technology to reduce logistics friction across the sectors like Agriculture and manufacturing.
Since its founding the company has moved close to 1000Mkg of goods, aggregated a fleet of over 10,000 drivers and trucks, for over 80 large enterprises such as Dangote Group, DHL, Unilever, Olam, African Industries, Flour Mills of Nigeria, and Lafarge.With operations in West and East Africa,Kobo360 is determined to build a global logistics operating system that will empower trade and commerce for Africa and emerging markets.They have attracted $37.3m in funding.
It is always a sad and unfortunate thing when someone has to die in any Nigerian hospital because the hospital does not have blood or oxygen for the patient or that the patient cannot afford them.This is the critical problem LifeBank is addressing.The company with operations in Nigeria and Kenya,uses technology and a multi-modal distribution platform to deliver blood and oxygen to hospitals thereby making them available when and where they are needed.The company continues to innovate in the way they deliver their core services and now use drones for delivery.Temie Giwa-Tubosun founded the company in 2015,she was the winner of Africa Netpreneur Prize of $250,000.They have also received a total of $225,000 in funding.
Paystack is a financial technology company founded in 2015 by Shola Akinlade and Ezra Olubi.The startup company provides a platform that helps businesses in Africa accept payments on their websites or apps from anyone,anywhere around the world through credit card,money transfer and also mobile money.Paystack through its innovativeness is around processing about 15% of all online payments in Nigeria,several businesses of all sizes including telcos, airlines,government agencies and small businesses.Paystack has attracted $11.7 million in funding.
Affordable and reliable internet is needed for Africa’s rapid technology and innovation development.Tizeti provides broadband internet services to densely populated urban centres in Africa.Tizeti has consistently delivered on its mission to provide unlimited internet to the numerous customers.
Tizeti enables millions of Africans to access the internet through its solar-powered towers in Nigeria and provides residences and businesses with price friendly unlimited high-speed broadband internet; covering Lagos, Ogun, and Rivers states in Nigeria.
Tizeti has installed over 25,000 public Wifi hotspots within Nigeria with 1,500,000 users and partnered with Facebook to offer Express Wi-Fi, rolling out thousands of new internet hotspots across Nigerian cities.The company has since expanded its services to Ghana with new brand GhanaWifi.com and its voice service WifiCall.ng.The company also recently launched its 4G services in selected Nigerian cities.Kendall Ananyi and Ifeanyi Okonkwo founded the company in 2010, they have attracted $5.1 million in funding.
PiggyVest (originally known as Piggybank.ng) was launched in 2016, as a savings product. Over the years, they have introduced innovative products, from savings tools like Safelock, Target and Group Savings, and PiggyFlex, to insurance products like AvonFlex, as well as TrackIt, which helps individuals and businesses in becoming more effective at financial management.In May 2018,Piggyvest acquired Gold Microfinance Bank.The founders are Joshua Chibueze,Ayo Akinola,Nonso Eagle,Odunayo Eweniyi and Somto Ifezue.They have attracted $1.2 million in funding.
As digital and cryptocurrencies adoption across the globe increases.Nigeria is not left behind in exploring the opportunities in Cryptocurrency and blockchain technology.Nigeria is in fact one of the leading countries in cryptocurrency adoption in Africa. Buycoins is a tech startup founded in 2017 as a peer-to-peer platform that enables Nigerians to easily buy,sell or exchange cryptocurrency with around $7 million worth of digital cash traded each month on its platform.The company has also launched innovative product called SendCash that enables nigerians receive money into their bank account in Nigeria from any country using bitcoin. Buycoins was founded by Timi Ajiboye,Ire Aderinokun and Tomiwa Lasebikan.They have received $1.2 million in funding.
NairaEx is among the most popular bitcoin market platforms in Nigeria. It allows users to buy and sell bitcoin and perfect cash with Nigerian naira. The platform provides a quick,easy and effortless bitcoin exchange service that is accessible to Nigerians.
The company which began operations in 2015 was founded by David Ajala, and aims to utilize the power of Bitcoin to supply a more secure and healthy financial system allowing Nigerians to get the wealth and energy of Bitcoin.
NairaExcurrently processes more than 1 billion Naira worth of bitcoin transactions each month and the platform has accumulated over 130,000 consumers with over 900,000 transactions. It’s become one of the most reliable exchanges to purchase and market bitcoin at Nigeria.
Unlike many other Bitcoin exchanges, NairaEx is not relying upon the payment processor or mobile payment option for cash payments. In doing this, NairaEx cuts on deposit charges, which might amount to up to 2.5% otherwise.Making the purchase of Bitcoin more convenient, and also being transparent regarding fees and pricing, are the top priorities for NairaEx.