Innovation happens when entrepreneurs commercialize new ideas through markets to improve business productivity and raise profits. In developing countries, most businesses operate quite far from the global “best practice” technological frontier. Innovation in these contexts should be defined to include not only frontier new-to-the-world innovation but also catch-up innovation, namely the adoption and commercialization of existing products and technologies that are new to the firm. ...
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The country’s leading start-ups opened shop in Lagos over the last decade and some of them have gone on to become pan-African names like iRoko, Jumia, Konga, and MallforAfrica to name a few and key events like DEMO Africa will take place here this month. Lagos is also home to internationally recognized incubators including Co-Creation Hub, accelerators such as IDEA Hub in the Yaba area of Lagos, and numerous co-working spaces such as CapitalSquare and Lagos Garage. It is also has a stro...
When you’re building something that you believe in — whether it’s something that has the huge power to shake the foundations of everything that has come before it, or just a simple idea that keeps you awake at night — your dream is to innovate. Innovative thinking requires boundless thinking. It requires you to shake off the shackles of the standard and systemised and popularly accepted thought processes and patterns that you’ve been imprinted with. It req
A call has gone to entrepreneurs, business owners as well as leaders of industries to leverage on innovation in order to boost productivity, economic prosperity and improve their growth prospects. This was the position of Mr Niyi Yusuf, the country Managing Director, Accenture Nigeria, who made this known during the maiden edition of the Nigeria Innovation Index 2018, organised by Accenture Nigeria, in Lagos, recently. The Innovation Index focuses on the financial services sector and ho...
Innovations that transform lives… where do they happen? In sophisticated labs? Using ultra-modern technology? And advanced equipment? No. Not always. Because when an idea or an innovation is driven by empathy towards the less-privileged and the determination to resolve their hardships, the way forward inevitably appears before you. Everything around you becomes a resource. Whatever you place your hands on, becomes a valuable equipment. And you realize that you are inside one of t...
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