Technology and business leaders, including the Chief Executive Officers of Impact Hub Ibadan and Cardify Africa, have urged startup founders to keep their products simple, test their ideas with a wider audience and seek support before scaling their businesses.
They gave the advice at an Innovation and Skills Forum (ISF) mixer organised by the Innovation and Scale Forum and Impact Hub Ibadan at the House of Kether, Bodija, Ibadan, Oyo State.
The event brought together startup founders, entrepreneurs, technology enthusiasts, investors and other stakeholders in the innovation ecosystem, with startups given opportunities to pitch their business ideas.
The speakers included the Chief Executive Officer of Impact Hub Ibadan, Adebayo Olubobokun; Chief Executive Officer and founder of Cardify Africa, Tunde Buremo; and Director, Corporate Services and Government Relations of Brass Petrochemical Company Limited, Ms Lolia Kienka.
Buremo called on founders to adopt a gradual approach to product development rather than attempting to introduce numerous features at the initial stage.
He urged entrepreneurs to concentrate on their core solutions and improve their products progressively as their businesses grow.
“Founders should keep it simple. They should do it one step at a time. They should not build what they are building with so many features,” he said.
Kienka also charged founders to test and validate their ideas beyond family and friends before scaling their ventures.
She advised entrepreneurs to take their ideas to industry players, pitch competitions and accelerator programmes where they could receive objective feedback.
According to her, founders should also seek mentors and experienced professionals who could assess whether their solutions addressed genuine market needs.
“Nothing is impossible. Keep building. If you are convinced that you are building a solution that a greater number of people need, make sure you test it, not only with family and friends,” she said.
Kienka, who volunteers as Head of Partnerships and Sponsorships for ISF, further cautioned founders against overloading their products with features.
“Keep it simple. Don’t build all the features in the world. That’s why version 1, version 2.0, version 3.0 exists,” she said.
Olubobokun called for greater government support for startup events and the wider innovation ecosystem.
He said government could provide venues where startup and technology events could be organised at little or no cost, adding that such support would reduce the financial burden on organisers and encourage more programmes.
The Impact Hub Ibadan CEO said stronger support for the ecosystem could help more startups survive, scale into larger businesses, create employment and expand internationally.
He also urged entrepreneurs to learn from both successful and failed businesses while building networks with peers, experienced professionals and other stakeholders.
“Nobody is going to spoon-feed you, but you need to open your mind and listen to different pitches, people sharing their stories and people talking about how they overcame challenges,” he said.
Also speaking, the Chief Agribusiness and Trade Officer, Impact Hub Ibadan, Mrs Helen Oduyemi, urged startups to build relationships with institutions such as Impact Hub Ibadan to help turn their ideas into viable businesses.
The organisers said the mixer provided participants with opportunities for mentorship, collaboration, investment and business growth.
Kienka said the event was part of activities leading to the ISF annual conference scheduled for November 27 and 28.
