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Nigerian Start-ups to Hunt for $1.7m at Reality TV Show

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Incubator Reality

By Ahmed Rahma

An opportunity will soon open for start-ups in Nigeria to overcome the issue of funding, which has not made it possible for them to expand and break new grounds.

A company is coming up with a reality television show for those in the sector and a whopping $1.7 million will be given to two winning firms to share.

The programme, Incubator Reality, according to the organisers, will change the narrative through a novelty incubation program that will increase their capacity and access to funding.

The brain behind the show, ECSCORP, said in a statement that this programme seeks to change the start-up narrative by creating a start-up hub where best brains are incubated to encourage product exposure, partnership, and funding.

“Start-ups encounter many challenges especially during the formation stage. These challenges range from seed funding, partnership and investment, business resource and mentorship. Unfortunately, many brilliant individuals, teams, talents are out there hoping for a turnaround and better days to come where their thought-of innovation can become reality,” the statement said.

The Incubator Reality will admit 25 contestants who will work in five different teams for an incubation period of 12 weeks and graduate with the seed fund for the winning team and first runner-up getting $1 million and $700,000 respectively.

In the statement, the organisers said, “Our local talents are blessed with ideas and innovation that can compete with their peers in other nations of the world, but our banks have low appetites to support these talents, their ideas and innovations.

“Angel investors and seed funding, which are the first business drivers are almost non-existent hence, the creation of The Incubator Reality. The show will focus on revolutionizing the quondam challenges of start-ups.”

“The Incubator Reality aims to address the most crucial challenges in Nigerian start-ups, which is how to leverage on knowledge, creativity and innovation to leapfrog ahead of or at the very least, be at par with many of the developed economies within the shortest possible time, creating mega companies, more jobs and opportunities,” it added.

The Incubator Reality will minimize brain drain whilst fostering growth and development. Contestants will be able to showcase their brand and attract attention to their talent; their business is already a success before they graduate from the Incubator.

“The viewers will be inspired as well as the partner brand having maximum exposure with a projected 40 million views, and Nigeria benefits from growth in GDP and direct investment to business growth,” the Incubator architect explained.

To be eligible for the program, applicants must be between the ages of 25 and 40 years and must have an entrepreneurial drive with originality, excellent communication skills (both oral and written), a good team player with sales and marketing skills, as well as good leadership and influencing skills.

Auditions will be done in different cities across the country, the UK and New York, on dates to be announced soon.

Ahmed Rahma is a journalist with great interest in arts and craft. She is also a foodie who loves new ideas. She loves to travel and would love to visit other African countries someday. She is a sucker for historical movies and afrobeat.

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MTN Nigeria Blames System Error for October 9 Outage

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Karl Toriola MTN Nigeria

By Adedapo Adesanya

MTN Nigeria has apologised to its subscribers, blaming the network outage experienced on Saturday, October 9 on a system error.

In a video message sent to Business Post on Sunday, the Chief Executive Officer of the company, Mr Karl Toriola, said the downtime was a result of system error from its end and not a result of sabotage as many feared, especially because it occurred a day after Facebook suffered a similar issue.

MTN users had October 9 experienced hours of network disruption, which affected calls and connections to the internet.

Mr Toriola explained that the technical team traced the cause of the downtime to an error that shifted all 4G customers to the 3G, overloading the band.

“Last Saturday, we had an outage that left our customers without a connection for several hours. On behalf of the entire MTN team, I want to start with a heartfelt apology. We are truly sorry for the disruption this caused for so many in our MTN family,” Mr Toriola said.

“We know that millions of people rely on us to stay connected to their loved ones, to manage their businesses, to coordinate their lives. We take that responsibility and privilege very seriously. That’s why we are putting new measures in place to make sure we never experience anything like last Saturday again.

“Our technical teams have traced the cause of the problem to an error that shifted all our 4G customers onto the 3G band. This overloaded the 3G band, causing a domino effect that impacted the whole network. Our engineers were able to resolve the problem.

“I know that recently other technology companies suffered outages. I want to reassure you that last Saturday’s event is in no way connected to those. This wasn’t [a] sabotage, it was a regrettable error,” the MTN chief added.

He further announced that MTN had refunded customers airtime and data used yesterday in addition to the time-bound subscription extension earlier promised.

He also assured users that MTN was working to ensure that they never experience such challenges with the network again.

“While we work to strengthen our network to prevent further disruptions of any kind, we wanted to find a way to say sorry. Something more than extending the validity of all time-bound plans by 24 hours, which we did as soon as service was restored,” he added.

“So, while we can’t give you back the time you lost last Saturday, we can give you back what you spent yesterday. Every customer on the MTN network has received a refund for the data and airtime that they used between 12 noon and 7 pm yesterday.

“We hope it shows how much we value our customers. You truly are our most important focus.

“We all have challenges, each and everyone, young or old, personally or professionally. What matters is how we respond. With you by our side, we will continue to improve and grow,” Mr Toriola stated.

This newspaper understands that many MTN users were given 1MB of data valid till October 31.

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FG Inaugurates Governing Boards to Fast Track Development

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Ogbonnaya Onu Governing Boards

By Sodeinde Temidayo David

In a bid to fast track the development of the country as well as overcome science, technology and innovation (STI) challenges, the federal government has inaugurated governing boards and councils of agencies or institutes under the Ministry of Science, Technology and Innovation.

Recall that recently, President Muhammadu Buhari approved the change of name of the Ministry of Science and Technology to STI in a bid to focus on ensuring the provision of STI-based solutions to overcome societal challenges.

On Thursday in Abuja, the Minister of STI, Mr Ogbonnaya Onu, during the inauguration, noted that in spite of the present challenges, his team was determined to break grounds by building a world-class ministry that would be the best in Africa and comparable with the best in the world.

However, he stressed that the team must work together efficiently to achieve this noble goal, as they are now in the path of repositioning and strengthening the Ministry to emphasize the desire to contribute to national development efforts of this administration to lift 100 million people out of poverty within the next decade.

According to Mr Onu, using the enormous power of STI, the focus will be on the development of abundant natural resources as well as the orderly exploitation of huge potentials of people and businesses.

The Minister further noted that the role assigned by the federal government on the ministry as custodian of all the fundamentals of innovations in Nigeria carries enormous responsibilities coupled with the recent change of name by the ministry.

“The new logo, vision and mission statement, our core values and critical success factors (CSF) would be unveiled very soon. A rebranded Ministry is emerging with implications for the commitment of all stakeholders within the STI ecosystem, especially the members of the various boards and councils of the Ministry.

“I employ you all to be diligent and unrelenting in the new journey to greater heights of service to our nation,” he noted.

The Minister also urged the governing boards and council members to familiarise themselves with the relevant instruments governing the operation and supervision of their respective agencies and institutes.

He expressed that the role and responsibilities of governing boards are stated in the relevant government circulars, laws, public service, administrative guidelines regulating the relationship with parastatals and government-owned companies.

In his remarks, Mr Micah Umoh, who represented the Chairman Senate Committee on Science, assured to give their full support to achieve the goal for the initiative.

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Third Telecom Consumer Initiative Holds October 15

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Telecom Consumer Initiative

By Sodeinde Temidayo David

The third edition of the Telecom Consumer Town Hall on Radio (TCTHR) will take place on Friday, October 15 2021, at 7:30 am, the Nigerian Communications Commission (NCC) has said.

The telecom consumer initiative will air on the Human Rights Radio, 101.1 FM, Abuja and will focus on the benefits of the National Identification Number to Subscriber Identity Modules (NIN-SIM) integration.

Interested individuals can tune in to listen and participate in the discussion via life streaming on the Human Rights Radio social handles, the telecommunications industry regulator said.

The TCTHR is the modified version of the Consumer Town Hall Meeting, a consumer outreach programme of the Consumer Affairs Bureau of the NCC.

Like its forerunner, the TCTHR is a train that will traverse Nigeria in keeping with management’s commitment to reach and engage every telecom consumer wherever they are.

It could be recalled that two editions of the TCTHR had taken place earlier in Kano and Lagos.

The key purpose of the programme is to create greater awareness on the linking of SIM to NIN and to educate consumers on the benefits and how to achieve NIN-SIM integration, and which consumers can reach the commission.

This initiative over the years has made it easy for consumers of telecom services in the country, who are dissatisfied with services rendered to them by any of the service providers to file a complaint.

The NCC has insisted on October 31 as the deadline for users to link their NIN to their SIM cards, stressing those who fail to do this would soon be denied the opportunity of acquiring driving licences and passports.

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