Bayo Oshinaga, a Nigerian tech startup founder has said accelerators are needed in Nigeria’s startup ecosystem. He told HumanIPO that with accelerators, startups in the country can have access to office space, internet, capital and professional advices from experts.
“Accelerators provide all these things in addition to capital, experience and guidance. It’s a full package that would help a lot in the tech space for products to go to market. It’s like having super weight behind you when you are going to market,” he said.
Specifically, he recommended accelerators for startups with products that are ready for the market.
“Startups that are about to go to the market phase are in need of accelerators,” he said. “It’s a very big deal because they will allow you to explore more options than you can probably do yourself.”
Oshinaga whose project, VirtualClass, is among the eight selected by 440 said he came to 440 to boost his confidence and to increase the chance of his product becoming successful in the market.
“The chance of success is no longer as slim as it was when we were the only ones who had this responsibility. Without an accelerator we would have had to raise more money, grow slowly, [and] deal with partners based on whatever stage we are in because some partners will not deal with us when we are at a very small stage. They will tell us to grow up,” he told HumanIPO.
Concerning 440, he described the founding partners, Chika Nwobi and Kresten Buch as industry experts that are interested in creating values.
“They are doing really great stuff because they are taking a chance that in spite of the kind of country we are in, they want to make their money from building values like Konga, Jumia. From real people making purchases; they are choosing to be the exception rather than the norm,” said Oshinaga.