Innovate Africa drives digital economy in Akwa Ibom with $2.5m

Innovate Africa, an early stage investment fund that drives digital economy and supports ventures across Africa, is expected to headline 2024 Akwa Ibom tech week with a venture fund of $2.5 million

BusinessDay reports that 2024 Akwa Ibom tech week will provide the opportunity to interact with Kristin Wilson, the co-founder of Innovate Africa through a series of ‘’curated events from fireside chats, knowledge sharing sessions and masterclass during the week.

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Idongesit Essien, Chief Executive Officer, Ibom innovation network, organisers of the Akwa Ibom tech week, said Innovate Africa would also hold a ‘’founder’s mixer’ forum for high impact early stage ventures and ecosystem.

The event which has as its theme, “Building a Resilient Innovation Ecosystem”, will be undertaken in partnership with Akwa Ibom tech week with a view to sharing useful tips and experiences with founders and innovators on how to build resilience into their workflow, processes and product officers.

In a press statement made available tBusinessDay in Uyo, Essien said that with purpose-driven technology, Innovate Africa would bring solution to challenges faced by start-ups, adding that as an early-stage fund, “It partners with businesses and startups to bring game-changing ideas that leverage technology to tackle complex problems on the continent.’’

According to him, the fund has announced a $2.5 million venture fund this year to support up to 20 high impact start- ups and founders solving complex problems like insecurity, unemployment and poverty through purpose driven technology in its first year.

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Essien quoted Wilson, co-founder of the fund, as saying that “having witnessed the struggles that early-stag Africa founders face, we know that brilliant ideas often lack the resources they need to truly thrive. It’s about deep expertise and strong connections and our investment strategy breaks the cycle of innovations being at the mercy of those with too much leverage and too little knowledge.’’

The theme for last year’s highly successful event was ‘’Akwa Ibom State as Africa’s new tech destination”, as the organisers pledged that the 2024 edition of Akwa Ibom tech week would bring techies across the country and beyond to a week long forum for exchange of ideas and finding opportunities for start-ups.