Interview with Loy Okezie of Startups Nigeria
Web/Technology Startups and Social Media in Nigeria are emerging and one of the people at the forefront is Loy Okezie.
Loy Okezie is the brain behind Startsup Nigeria, a hub for partnerships, advice and resources for Nigeria’s growing Web 2.0 & Internet economy. He also has a personal blog where he writes about companies and their use of new and emerging technologies as well as their brand marketing and advertising campaigns seen on traditional media and digital media.
NaijaWebGeek recently caught up with him and he shares his views on startups and social media on the Naija scene.
Here is the incisive interview:
NaijaWebGeek: Please introduce yourself Sir, letting us into a bit about your background.
Loy Okezie: I’m Loy, graduate of business from the University of Abuja with several years of experience in management consulting, recruitment consulting and in more recent times social media consulting.
I have a passion for people, technology and startups and consistently seek ways to engage with like-minded people, embrace new technologies and empower early-stage startups.
NaijaWebGeek: Your passion for technology and startups must have motivated you to start ‘Start Ups’ Nigeria?
Loy Okezie: Absolutely!
NaijaWebGeek: What is Startups Nigeria really about?
Loy Okezie: We’re the first online technology startup hub in Nigeria and growing to become the largest in Africa. Our vision is to build a knowledge-based economy in Nigeria by 2020 and beyond. We are not just a technology blog about startups, but also a community where you can find resources, partnerships, advice, jobs, etc
NaijaWebGeek: Startups Nigeria was on for some time and suddenly became inaccessible for a period of time, but resurfaced back this January, 2010. What was responsible for that?
Loy Okezie: Yes, we had issues with our host and since it wasn’t resolved, we decided to move on.
NaijaWebGeek: Is startups Nigeria solely administered by you?
Loy Okezie: No. At a time, we had multiple users.
NaijaWebGeek: As a startups analyst, what is your rating of Nigerian web/technology startups?
Loy Okezie: 5/10
NaijaWebGeek: What do you think could be responsible for this half mark?
Loy Okezie: Well, particularly because we’ve seen most of Nigerian startups launched on-the-fly. I think that founders need to develop more innovative ideas that can add more value to users than we’ve seen. Most importantly, startups need to explore the best revenue models for their online ventures.
NaijaWebGeek: What revenue models can founders adopt?
Loy Okezie: Well, that really depends on your product or service. I’ll be glad to help any startup define ways to generate revenues
NaijaWebGeek: I asked this because, I think Nigerians usually finds it hard parting with their money online (I stand to be corrected) or probably because of the low internet penetration
Loy Okezie: That might be true, but if you’re able to offer a great user experience, your audience will be willing to part with their money.
NaijaWebGeek: Talking about Social Media now, do you think it has any benefit for us as Nigerians?
Loy Okezie: I think that Nigerians love anything that’s got the “hype”, and that’s what social media is all about: HYPE. With more and more individuals and companies tapping into social media tools, we’ll soon start seeing web & mobile applications that offer value to our local needs on the go.
NaijaWebGeek: I doubt if Nigerian companies/brands are tapping into this ‘hype’?
Loy Okezie: It’s going to be gradual, but they’ll catch up.
NaijaWebGeek: In other words, we are still at a growing stage when it comes to social media in Nigeria?
Loy Okezie: That’s right.
NaijaWebGeek: Whose responsibility do you think it is then for us to climb this growing ladder fast? As in who/what will be the driving force?
Loy Okezie: Well, anyone (or better still any startup) can be a motivation for anyone or other startups to climb. When you see a product or app that you like, you might want to promote it, even though you have your own project. In order for us to climb faster, we need to collaborate with other entrepreneurs in Nigeria and Africa. We need a community that would foster healthy discussions on the emerging web, mobile and startups industry. We need to build credibility as it is the most important quality investors are looking for.
NaijaWebGeek: Do you then think that startups targeting the Nigerian people/market will be the right thing to do, especially if your motive is for revenue generation?
Loy Okezie: I think that Nigerian web entrepreneurs should start local and go global. By that I mean, solve local problems using existing and emerging technologies while thinking of ways to add value to global consumers. Thus, I wouldn’t advise any entrepreneur to build startups with ONLY Nigerians in mind.
NaijaWebGeek: Your predictions for Nigerian web/technology startups in the next five-ten years?
Loy Okezie: I see Nigerian startups built with ground-breaking technology that can compete with global startups. I see a vibrant technology startup community backed by a VC (Venture Capitalist) culture. I also see technology parks in different parts of Nigeria churning out great innovations and applications that Google, Microsoft, Oracle, etc would be willing to acquire. Finally, I see a robust software technology industry in Nigeria similar to India’s that could generate billions of dollars through outsourcing of locally made softwares. All of these would come with more investments in infrastructure, power and telecommunications.
NaijaWebGeek: 1. Your advice for upcoming startups founder
2. For those already with a product/service who are thinking of backing out because they can’t cope with the challenges
Loy Okezie: 1. Never think AVERAGE
2. Never QUIT
NaijaWebGeek: What more should be expected from Loy Okezie?
Loy Okezie: Building an emerging digital media brand that will change the way we live.
NaijaWebGeek: Can’t wait to see that. Thank you for your time Loy, I really appreciate
Loy Okezie: Sure, thanks!
PS: Plan to attend the Technology Outlook Web Forum, Loy is billed to speak there.