Discussing the future driving factors to the Nigerian Economy. The role of Startups, the downside to SMEs, the roadmap, tools & actions.

1. Building the
Next Economy
in a Tech Age.
By
Bruce Lucas N. (MNCS, CCWP, ACFI)
Community/Partnership Lead, Olotu Square.

2. Economy Story
• Nigeria
• Agriculture & the North
• Oil & the Niger Delta
• The new wave
• Agriculture everywhere
• Tech everywhere

3. The disrupting paradigm called TECH.
Is tech the new Oil ?

4. The lie called “SME”
• Start Small
• Stay Small
• You need help
• You will always need help
• Your audience is in your area only
• Make what you need for family

5. The truth called ”Startup”
• Business from idea to the world
• Business of solving problems
• Business that fuels collaboration to success
• Business with learning as the main activity
• Business that intentionally builds leaders
• Business that promotes innovation
• Business that can only be designed only to exchange true VALUE

6. SMEs vs Startups
• Grow fast: By design, this means that they have something they
can sell to a very large market. For most SME businesses, this is
not the case.
• Financing: Startups tend to rely on capital that comes via angel
investors or venture capital firms, while small business
operations may rely on loans and grants.
• Exit Strategy: startup plan an exit strategy and pitch this for VC
funding. Without an exit strategy in your plan, you’re unlikely to
get it.

7. The dynamics of “Funding”

8. Q1 Startup Funding - Nigeria
$ 9,241,196
Q1-2018

9. Q2 Startup Funding - Nigeria
$ 73,685,003
800% increase from Q1-2018

10. What do investors want?
• Size of the opportunity
• Products or Services
• Strength of founding team
• Where is My Money is going?
• Attracting Customers,
• Funding Alternatives,
• Execution Strategy,
• Exit Strategy.

11. The Next Economy

12. The Next Economy
An economy lead by Entrepreneurs not Politicians
Entrepreneurship
Politics/Governance
• Increase meaningful living
• Attract & Recycle Investments
• Increase economic productivity
• Reduce Unemployment
• Reduce crime
• Pay Bills & Taxes
• Build better working Systems & Institutions
• Create business friendly policies
• Provide basic amenities/infrastructure
• Create easy access to market
• Build the best international trade relationships

13. The Roadmap to the Next Economy.
Capacity Building
Innovation
Access to Market (Local & Global)
Trainings with Intent
Ideas that actually solve problems
Policies for high traction
( Africa/Global )

14. Very Clear Actions & Tools
1. Team
2. Hubs & Events
3. Incubation
4. Accelerators
5. Mentors/Investors
0. Family Meeting Clearly ask every body in the family to support you or leave you alone
Identify great minds from your past or present and build a strong team
Converge with other great minds and always attend learning events
Be prepared to go through the tough but right processes from idea to business
Get expert assistance/funding to sharpen the business for exponential growth
Work with people most interested in your success to make it happen

15. The Result ?
Vision Achieved

16. What ?

21. …collaborating to build the next success stories
http://startupsq.olotusquare.co
startupsq@olotusquare.co
0703 091 2438

22. Bruce Lucas N.
08036602512
brucelucas@olotusquare.co
www.olotusquare.co
Thank you
@brucealgorithm
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