DBN Techpreneur Summit Paves Way for Increased Tech Investment in Nigeria
By Patience Ikpeme
The Development Bank of Nigeria (DBN) has moved to bolster the nation’s tech ecosystem by facilitating direct connections between techpreneurs and potential investors.
A dedicated “DealRoom” session was a key feature at the recently concluded 2024 DBN Techpreneur Summit 3.0. This initiative aimed to bridge the financing gap often faced by tech startups, thereby stimulating growth within the sector.
“By providing a platform for startups to pitch their ideas, network with investors, and explore funding opportunities, the summit seeks to bridge the gap between innovative tech ventures and capital infusion,” said Dr. Tony Okpanachi, DBN Managing Director/CEO.
Keynote speaker, Dr. Celestine Iwendi, highlighted the vast market potential for tech-driven solutions in Nigeria, given the country’s numerous social and economic challenges. He urged tech innovators to develop solutions that address these issues, citing examples like food insecurity, insecurity, and cybercrime.
Addressing the AI adoption gap
Dr. Iwendi expressed concern over the slow adoption of AI in Nigeria compared to countries like China and India. He called for increased government support, infrastructure development, and investment in tech education to bridge the gap.
The summit also featured a pitch competition where 20 tech innovators showcased their ideas. Four winners emerged, each receiving N5 million as seed capital. Dr. Okpanachi highlighted the DBN’s significant impact on MSMEs, particularly women and youth-led businesses, since its inception in 2018. The bank has supported 72 percent women and 24 percent youth through lending and capacity building initiatives.
The DBN Techpreneur Summit has positioned itself as a crucial platform for connecting the tech ecosystem, providing much-needed support to innovative startups, and driving Nigeria’s digital transformation.
