Moolu Venture Lab and Moolu Venture Capital, have moved to drive innovation and digital transformation with its recently held Emerald Pitchfest and E-tech Africa Summit.
Emerald Pitchfest and E-tech Africa Summit, aimed to foster innovation, promote digital trade, and empower startups to unlock Africa’s immense potential in the digital landscape, brought together entrepreneurs, innovators, investors, and tech enthusiasts from across the continent, and held on Monday, in Abuja.
The Pitchfest competition was particularly highlighted as it provided a platform for talented African youths to showcase their innovative ideas and solutions across various economic sectors, encouraging efficiency in delivering innovative products and services.
Mr. Prince Ogbonna, during the event, outlined the foundation for Moolu Venture Lab’s Vision 2033. This ambitious vision aimed to empower 1000 startups and nurture new unicorns across Africa. The initiative showcased the commitment of Moolu Venture Lab towards fostering innovation, economic growth, and prosperity in the region.
On his part, the Director General/Chief Executive Officer National Information Technology Development Agency, NITDA, Kashifu Inuwa, called for proper planning, functional digital infrastructure and incentives for young people in the digital industry, as part of efforts to drive much desired digital transformation in the country.
Bemoaning certain bottlenecks impeding the growth of digitalization in Nigeria, he stressed the need to enable laws, regulations, and
policies that will not only attract investors, but promote a business-friendly and ease-of-doing business environment.
Stressing the need for the creation of functional digital infrastructure, adding that African countries must begin to modernize their digital infrastructure to fully benefit from the digital economy.
He said: “To attract investors, it is crucial to have enabling laws, regulations, and policies that promote a business-friendly and ease-of-doing business environment. The effective implementation of the Nigeria Startup Act will significantly alter the narrative.
“Proper planning and incentives for young people engaging in digital innovation are necessary to encourage them to develop technologies that address our peculiar local problems and socio-economic needs. Most
importantly, development depends on creating functional digital infrastructure. African countries must modernize their digital infrastructure to fully benefit from the digital economy.
“Thus, this Pitchfest competition will undoubtedly provide our talented youths with a special opportunity to showcase their innovative ideas and solutions for enhanced productivity in a variety of economic sectors as well as improved efficiency in the delivery of innovative products and services. Additionally, it encourages and promotes indigenous talents to develop relevant innovative solutions to our local problems, improve how we do
things, and engender prosperity in our environment.
“Your programme aligns with several initiatives being implemented by the National Information Technology Development Agency (NITDA) through its Special Purpose Vehicles (Office for Nigerian Digital Innovation, ONDI, and
the Centre for Artificial Intelligence and Robotics, NCAIR) to expand Nigeria’s digital innovation ecosystem.”
Additionally, he said that with the enactment of the Nigeria Startup Act, the country’s digital
transformation has received a new boost.
On his part, the Managing Partner of Moolu Venture Capital, Mr. Prince Ogbonna, said the 2033 vision of the foundation is to empower 1000 startups and raise new unicorns in Africa.
He noted that the move demonstrates the commitment of Moolu Venture Lab to support and uplift the African startup ecosystem, making a significant contribution to the continent’s economic growth and development.
Highpoint of the event was the grand prize of $1000 award given to Agrovesto as the best pitch of the Emerald Pitchfest 2023.
