CWG CEO, Adewale Adeyipo, explains why tech startups fail to scale hurdles in business

The Chief Executive Officer of CWG Plc, Adewale Adeyipo, on Thursday explained why many technology startups in the country failed to live up to their potential.

Adeyipo, who spoke during a panellist session at the Government And Technology (GAT) Summit jointly organised by Ripples Nigeria and TechNext in Lagos State, described founders of tech startups as arrogant.

He said the arrogance arises from the huge capital inflow into the tech industry, adding that this creates a mentality among the founders that the government should be the one to come to them rather than going to meet the authorities.

He challenged founders of tech startups to face the reality in dealing with the government.

Adeyipo said: “There’s a little bit of arrogance coming from the private sector, which by extension the tech ecosystem, where we believe by default that somethings happen to be our right, and some things should come to us, because we believe so much in the ingenious creativity and tenacity of the work we’ve put in place to produce that thing that global process.

READ ALSO: Twitter acquires AI start up to fight fake news

“And suddenly, we believe we have the right to be served, and somebody should put the meal on our table for us to eat. I think that needs to be taken away, There is a place for lobbying in any active economy.

“So there’s a place where the tech industry must come to that realisation and get to that place of lobbying, in order to see and bring something to life.”

The CWG chief encouraged founders of tech startups to put 80 percent effort in their operation, and 20 percent in discussion with the government or their industry’s regulator as this would help the government to base its regulation on the knowledge provided by the startups.

“I think we are spending a lot of time creating many things we are doing, which is incredible, but we are not spending enough time discussing with people (authorities) that could make that thing happen,” he added.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now