The Role of LSETF in Enabling Techpreneurs (Lagos Innovates)

Introduction The 21st century has been characterized by advances in science and technology which are recognized as key enablers of economic development. From a business perspective, the shift towards automated business processes and communication is designed to achieve greater efficiency and effectiveness in the modern era. Around the world, nations have embraced information and communication technology (ICT) as a means of providing its citizens with easier access to services. The emphasis on ICT has also boosted internet penetration and literacy rates as well as investment in research and development. LSETF and Techpreneurs In our perspective, the term “Techpreneurs” refers...

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10 Nigerian Tech Start-up Businesses That Are Leading In Technology and Innovation

High-technology businesses are characterized by new and rapidly changing technology which are used in their daily operations. Considering this, advanced technology has been utilised in so many different industries that it is often regarded as its own unique industry subset, with applications across various businesses. Today, high-tech businesses are involved in industries as diverse as food ordering applications, taxi booking applications, e-learning platforms, retail product design and a host of others. Businesses immersed in the world of high technology range from huge corporations (such as Amazon, Alibaba, Uber, Jumia, Konga, etc.) to small start-ups hoping to be the next...

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Entrepreneurship in the Evolving Era of Technology and Innovation

As business operations constantly improve to increase production and efficiency, the interplay of technology systems has become necessary. Developing countries have begun to adapt existing technologies from more advanced countries and are seen to be pioneering the latest technology trends. Technological innovations result when new rules and ideas find practical use through being applied and/or commercialized by entrepreneurs. Today we live in a technological ‘age’ and global economy where competition has become knowledge-based. In modern theories of growth and development technological innovation has taken the centre stage. There is a growing relationship between technological innovation and entrepreneurship which has...

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10 FEATURES OF A GREAT BUSINESS IDEA

One of the most challenging considerations when developing a business idea is incorporating quality characteristics that will make the project feasible. The mistake often made by entrepreneurs is preparing a business plan without the consideration of the market environment in their chosen field. This error can be eliminated when the market environment is properly examined considering flexible and uncertain factors such as pricing, availability/accessibility of raw materials and level of competition. Here are 10 features of a great business idea that will help you kick-start your business or adjust your already existing idea. Identified market need or gap: Your...

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Skills and Behaviours that Make Entrepreneurs Successful

It is common knowledge that being an entrepreneur is no easy task. It takes a host of skills which are centered on dedication, resilience and self-discipline as entrepreneurs are constantly faced with various obstacles (both internal or external) which can slow down business operations. Being an entrepreneur is not always glamorous as people would think. For entrepreneurs to succeed they must exhibit the following skills and behaviours listed below; 1) Identify customer’s needs: The most viable approach to identifying customer needs is research. The first step of customer research is identifying your customers. Your market research should include the...

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