NITDA, Sidmach claim lack of seed funds threaten tech startups

The need to advance Nigeria’s technology ecosystem formed the fulcrum of the visit of the Acting Director-General of the National Information Technology Development Agency (NITDA), Dr. Vincent Olatunji, to Sidmach Technologies in Lagos.

Olatunji, who said the Nigerian IT market has potential to generate income for the country, disclosed that dearth of seed fund is seriously limiting the growth of startups in the ICT sector of the economy.With this, he disclosed that NITDA would establish national infrastructure fund for start-ups to scale up their products for global competitiveness.

“I am very pleased to be in Sidmach and I appreciate the fact that the company is making tremendous contributions across the various e-Government platforms.“We are focusing on start-ups, home grown solutions and human capital. Whatever is built here can work in other countries. Most Nigerian youths have ideas; all they need to do is to turn them into reality so that they can make money. We will encourage patronage of home grown solutions,” he stated.

While commending Sidmach Technologies for impacting the sector positively, Olatunji said there was need for serious collaborations among IT firms, private sector and government for the sector to move forward.

Earlier in his welcome address, the Managing Director of Sidmach Technologies, Peter Arogundade, noted the firm would continue to support the Federal Government’s in strengthening indigenous ICT entrepreneurship to reduce joblessness and create wealth for the people.

He assured the Ag. DG NITDA that Sidmach will deliver on commitments and projects given to the organisation to execute and restated the company’s support towards the actualisation of various goals and projects of the National Information Technology Development Agency.

Noting that it was the first time a NITDA’s DG will be visiting their organisation, he said that, “SIDMACH is an indigenous ICT company with world class products and services. We provide integrated solutions to customers across the public and private sectors of the economy.

“At Sidmach, our people live our values and our actions are underpinned by these principles. Our corporate culture is professional, innovative, disciplined, friendly and open, and we are committed to excellence and global standards.

“We promote a work environment based on faith, respect, timeliness, objectivity, merit, effective communication, compliance with policies and processes, corporate loyalty and swift execution.

“Our strength lies in our people who are very professional and together with our local and international partners, we are poised to deliver exceptional products and services. Our responsiveness, professional competence and partnership skills are what have continually given us the edge in our services offering.”

While appreciating their partnership with NITDA, Arogundade thanked the IT regulatory agency for a number of collaborations and projects including e-Agriculture Platform, e-Health Platform and StartUps development.

Arogundade said the company strongly believes that the Nigerian IT market has great potential and will become a point of reference across Africa and the world, with right policies and improved business climate.