Lagos – At the recently concluded Builders Summit 2025, convened by Peace Itimi, industry experts emphasized that investors are increasingly focusing on startup traction as a critical factor when deciding where to place their funds. Drawing from the panel session moderated by Ayobamigbe Teriba, featuring Oyin Solebo, Damilola Teidi, and Ireayo Oladunjoye – several key points emerged on how startups can attract investment beyond simply having strong teams and promising business ideas. Panelists highlighted that traction, demonstrated by measurable growth indicators such as revenue, user acquisition, and strategic partnerships, serves as concrete proof that a startup’s product or service is gaining market acceptance. This real-world validation significantly reduces investment risk and boosts investor confidence. The discussion also stressed the importance of showing early signs of market fit, customer love, and month-to-month value growth, as well as tracking where customers are coming from and focusing on retention. Other practical advice shared included the benefits of engaging angel investors at the idea or early stage, maintaining transparency, sending out regular investor updates, and demonstrating good governance practices from the outset. In a keynote session, Seye Bandele, founder of PaidHR, advised founders on the art of selling and highlighted the importance of listening in sales, stating that “70% of selling comes from listening.” When asked how he scaled PaidHR, Bandele explained, “We knew that we didn’t have a lot of money to do marketing, so we were going to leverage the founder to do the marketing as organically as possible… Every story I’m telling, I’m depositing something into your mind – either about myself or about the company we’re building,” emphasizing that founders must strategically take advantage of their current reality and resources to succeed. The summit featured additional discussions on the adoption patterns of AI among African tech startups, with a particular focus on Nigeria’s evolving ecosystem. Other sessions included contributions from notable figures such as Fisayo Fosudo, Tomiwa Aladekomo, Njoku Emmanuel, David Adeleke and Douglas Kendyson, founder of Selar. Peace Itimi, the convener, is a prominent Nigerian tech storyteller and growth marketing professional. She created Founders Connect, a platform that began as a YouTube channel documenting African tech entrepreneurs’ journeys through interviews and live events, aimed at building community and preserving the history of Africa’s tech ecosystem. Her work also includes producing “Innovating Africa,” a documentary focused on Nigeria’s tech landscape. Founders Connect has become a vital space for knowledge sharing and networking, with over 70 founder interviews and successful live events in Lagos, Nairobi, and London.  The Builders Summit 2025 continues this mission by equipping builders with insights to scale, learn in the curve, and secure funding in a competitive market. The event serves as a vital platform for exchanging ideas and strategies for building and scaling innovative solutions in Nigeria and beyond. Ultimately, the panelists’ advice reinforces the growing consensus that traction is a key ingredient in securing investor funding and driving startup success.

Lagos State Governor Babajide Sanwo Olu made a firm statement on the state of affairs of Lagos as Africa’s innovation hub during the Zenith Bank Tech Fair 4.0 held at the Eko Convention Centre. The event themed “Future Forward 4.0: Embedded Finance, Cybersecurity, and Growth Imperative – The Impact of AI” enthralled audiences with up-and-coming revolution in artificial intelligence, cybersecurity and financial technology. “This is the Lagos we envisioned” Sanwo-Olu said, noting that more efforts are being made to make the state one of the top technology cities in the world. “Events like this reaffirm Lagos as the epicentre of innovation and technology in Africa.” The Tech Fair included an electrifying startup pitch presentation, informative panel discussions on the prospects of embedded finance and an innovative and eye-catching display of AI and cybersecurity solutions. The event was clearly teeming with innovation as experts and professionals engaged their counterparts from other companies to discuss how technology is transforming the financial world. This initiative as executed by Zenith Bank pinpointed the importance of technology-related programs in supporting the growth of the economy and security. Not only did the fair represent the advancement of the city but expectations of the city as a global start for innovation.

Africa’s brightest tech minds are preparing for the opportunity to shine on the global stage with the announcement of the 2024 Cyber Hackathon by the American Business Council Nigeria (ABC Nigeria) in collaboration with Comercio, and other leading partners in the private sector. The event is aimed at providing a vibrant platform for Africa’s brightest tech minds to collaborate, innovate, compete, and also to identify the best cybersecurity talent in the continent.  This year’s Cyber Hackathon is a high-stakes arena for innovation, mentorship and unprecedented opportunities. The event which is scheduled to hold in November 26 will allow participants engage in intense brainstorming and problem-solving sessions in areas like artificial intelligence and cybersecurity. Winners at the event don’t only stand the chance to walk away with prizes such as laptops, cutting-edge tech gadgets and cybersecurity certifications, but will also secure a coveted spot in a five-week pre-accelerator program in Silicon Valley, and which will avail them the opportunity to rub shoulders with tech giants at the heart of global innovation.