Subomi Oluwalana

The Harsh Reality of Startup Failures: Lessons from Kenya’s Market The startup world being a microcosm of innovation, risk, and relentless pursuit of solutions leads us to a closer examination of two of the country's most recent high profile closures: MarketForce’s RejaReja and Kune Food, both which have cast a spotlight on the harsh realities of startup life cycles. MarketForce’s RejaReja: A visionary B2B e-commerce platform, RejaReja sought to empower informal merchants with digital solutions. Despite a strong start and a significant Series A funding, the venture faced an uphill battle against market forces. The thin profit margins and high price elasticity in the retail FMCG market, coupled with an aggressive expansion that outpaced financial sustainability, led to its untimely demise. Kune Food: With the noble aim of providing affordable, ready-to-eat meals, Kune Food entered the market with great relish. It managed to attract thousands of individual and corporate customers, yet the startup could not weather the storm of rising food costs and a challenging investment landscape, leading to its closure. The economic environment plays a critical role in a startup’s success. Inflation, supply chain issues, and consumer spending power can make or break a business. Investment Climate: The readiness of investors to fund startups is a barometer of confidence in the market. A tightening of investment can signal trouble for startups reliant on external funding. Consumer Behavior: Startups must be attuned to the needs and preferences of their target audience. Misjudging consumer demand can lead to product-market misalignment. Strategies for Survival: Lean Operations: Embracing lean principles can help startups extend their runway and adapt more quickly to market changes. Diversification: Exploring multiple revenue streams can provide a buffer against market volatility. Community Engagement: Building a loyal community can create a support system that helps sustain the business during tough times. Looking Ahead: The stories of RejaReja and Kune Food are cautionary tales that remind us of the fragility of startups. Yet, they also highlight the courage and determination inherent in the entrepreneurial spirit. As we move forward, let’s take these lessons to heart, fostering an environment where innovation can thrive, and startups can grow sustainably. In the end, the cycle of creation and closure is part of the startup ecosystem’s natural evolution. Each ending paves the way for new beginnings, and from the ashes of past ventures, new ideas emerge, ready to take on the challenges of tomorrow. #StartupLife #KenyaTechStartups #BusinessInsights #EntrepreneurialJourney #Innovation #MarketChallenges #StartupStrategy #EconomicImpact

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11 Biggest Takeaways (😉There's a 12th) from Fred Swaniker and Ambassador Meg Whitman 1. Meg's Background in Tech is by luck, she never planned to join eBay. 2. Kenya is considered the Tech capital of Africa 3. When Americans companies expand to new growth markets Africa is not part of the conversation. She says this has to shift, "We need Americans to think of Africa as the next growth market". 4. The 4 things that make Silicon Valley, silicon Valley: 1. Connectivity 2. Big daddy company -> Helwett Packard (HP) 3. Stanford University 4. Venture Capitalists (VCs) 5. Networking Event Opportunity she mentioned => America Chamber of Commerce, graced by H.E. William Samoei Ruto. 6. Business Process Automation and Information Centres Catalyzed the growth of India in Tech. 7. When she's speaking and persuading CEOs to come to Kenya, story telling is a key role. The best people to tell African stories is us. Africans. 8. A lot of policies have to be changed to allow more companies to come to Kenya, for example the 30% rule where a company has to be 30% Kenyan owned to come to Kenya. 9. The business climate -> Kenya needs to conform to international standards to allows more companies to come into Kenya. (Environment, Leadership and Policies) 10. Silicon Valley is a state of mind. People share ideas freely. People's personal and professional lives are deeply intertwined. 11. Take initiative and be a risk taker like her, going into ebay was not in her plan and she decides to go for it, years later she is the ambassador.

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The Top 5 Tech Founders That Inspire Me ✨ Here are my top 5 tech founders. They are visionary figures who have excelled at their own startup journeys and are now using their experience, resources, and capital to empower the next generation. They are boosting innovation, accelerating economic growth and nurturing the budding Nigerian startup ecosystem Odunayo Eweniyi Ezra Olubi Iyinoluwa Aboyeji Shola Akinlade Olugbenga Agboola Which tech founder inspires you? let me know in the comment section 👇 #Tech #paystack #flutterwave #piggyvest #Futureafrica #Techfounders #Startups #Startup #Linkedin100

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We built a product in 13 days and won third place out of 54 teams at A2SV | Africa to Silicon Valley internal hackathon for G5. Our team, Nexus, was tasked creating an eCommerce app. Initially, the idea seemed overwhelming due to the abundance of existing eCommerce apps. However, we conducted a survey to identify what people felt was missing, aiming to fill that gap. This led to the creation of HibirLink: a platform that integrates an online product marketplace, service provider connections, and a flexible online auction system. Despite the short timeframe, I learned two crucial lessons from the hackathon: Time Allocation for Product Development: It is vital not to underestimate the time needed for product development. At the end of the day, we are building for the community, so understanding and addressing their needs is paramount. Team Collaboration: Regardless of the project's size or familiarity among team members, utilizing project management tools is essential. These tools help ensure tasks are completed on time and keep everyone aligned. Team Nexus [Melakeselam Yitbarek Yonatan Tizazu Robel Tesfaye Fraol Mulugeta , you all were incredible. Special thanks to our mentors Semir Ahmed and MILKIYAS GEBRU for their guidance and support. Check out HibirLink: https://lnkd.in/dHthh9sx Repo: https://lnkd.in/d4fqd3ky

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As a Mobile Development cohort member at Bangkit Academy, I am embracing the journey of adapting and evolving across multiple dimensions to achieve my primary goals: effectively and efficiently acquiring knowledge, mastering skills, and ultimately graduating with the highest scores possible. The strategies I've implemented during my time here have profoundly impacted my ability to stay on track, adapt to changing demands, and perform to the best of my ability. Ways of Interacting: Engaging with diverse peers across Indonesia has helped me enhance my communication and relationship-building skills. Actively participating in discussions and offering support has fostered a strong sense of community within the cohort. Ways of Achieving: Current Bangkit Program's has so much to catch up in short amount of time, so to achieve that, I set up a strategy so as to achieve the deadline in order to be able submit on time or earlier. This has helped me to stay on track with the current Bangkit's timeline. Ways of Learning: Facing distractions and disruptions required me to adapt my study habits. I dedicated extra time to catch up, ensuring I met deadlines while enhancing my understanding of the material, thus preventing delays in submissions. Ways of Working: Balancing Bangkit deadlines with external responsibilities involved prioritizing tasks using tools like Google Calendar. This planning approach enabled me to meet program demands efficiently while maintaining a structured schedule. Ways of Thinking: Adopting a growth mindset was essential, as to overcome the tight deadline in a short amount of time. Rather than seeing it as an obstacles, I see it as a learning opportunities for me to adapt with the hectic deadline, which were vital to my progress and success in Bangkit’s dynamic learning environment. #LifeAtBangkit #Bangkit2024

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Random Thoughts ony way to work. Does Mpesa, or any banking app have a way for users to schedule payments or money transfers? Case in point: A user gets a lumpsum of money but his obligations are not yet due. Chances of him using the money are high as well as chances of him not having money when his obligations are due. Imagine if, when he had the money, he was able to schedule the payments for the dates when they will be due, that money gets deducted from what he has and locked to be released, automatically, to the recipients, in the scheduled dates. He will be in a better place to plan his money ahead of time and not fall back on his obligations. They should have access to all scheduled payments and can re-schedule or cancel the payment before the due date. This is different from having a standing order where money is deducted on a certain date for a given period of time. Which works perfectly for recurring payments but not random obligations that come up w.g baby showers, graduations, celebrating achievements, weddings etc This use case is best suited for users whose payments are not on time or those who get money at random times, think freelancers, chama people or business people. They can make their payments ahead of time and not have to carry the mental load of remembering when a certain payment has to be made or when they need to send money to xxx. Success Criteria: The user has scheduled a payment via mpesa, the amount has been deducted from his mpesa balance and locked such that he cannot use it. On the scheduled date, the payment is made to the account and the user gets a message/notification that payment has been made. Payment is visible on the user's statement.

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My Journey to Product Management (Part 6) 😎🚀 "There's Money in Tech but it's not for the weak" Well that's the song on the lips of many individuals. Hey there 👋 My name is Mercy Fiyinfoluwa Osasona and if you're seeing my post for the first time, welcome to my LinkedIn Page. For the past few weeks I have been posting about my journey into Product Management and Just incase you would like to catch-up on the gist, you can check my previous posts. Where were we?? Yeah! I have always wanted to do tech, especially diving into the aspect of tech that would further fuel my passion of being a Solution Provider (in respect to solving problems of Consumers) as an entrepreneur. The first few individuals I spoke to about diving into the tech world washed down my morals😅😁(it dropped from 100% to 0%). It's Not like they were bad people but they Just didn't think it was something I could do or probably I was only passionate about the money. I must confess, I felt really bad at that point and those thoughts became overwhelming. The "What IF" factor came in and I was always doubting every step that I needed to take to seek for information or start a course... Still In that state, I Decided to reach out to Joshua Olabode Before I dive into what I am about to say..I would like to say, surround yourself with people who believe in your abilities and encourage you to Push yourself beyond your comfort. This is not to negate the fact that so many people go into various career path for the Wrong Reasons and get frustrated eventually🤣. Definitely! Tech isn't for the faint hearted 🤣🤣🤣....I reached out to him and I can remember him saying..why not? I believe you can do it, But you need to have a strong Why😌😌... Well, as at that time I didn't know much about tech but i just knew I wanted to do tech. To be Continued 🚀😎 © Osasona Mercy Fiyinfoluwa #MyJourneytoProductManagement #ProductMangaement #BuildingmyCareer

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https://lnkd.in/dfX8dyiN I know the market is saturated with lies, people telling you to attend webinars without giving values. Let's have a deal, if you watch this content from beginning to the end and you are not convinced it's value packed, I would pay you 50% of what it takes to register for our upcoming master class myself. Feel free to send me a DM to register for the upcoming master class. You can pay with paystack using this link, it's small money, it's a give back to the community https://lnkd.in/dEg99NBk But please I beg you don't try to pay at all, without watching this webinar first, everything there is a tip of the iceberg, I can assure you. We have much more to offer

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Can a balance be created in the Nigeria Startup ecosystem? Nigeria's startup ecosystem is a beacon of hope for many entrepreneurs, attracting billions of dollars in funding. Yet, for every celebrated unicorn, countless startups never make it past their first year. Data shows that 70% of startups fail between years two and five, which is outrageous. The allure of being the "next big thing" often drives startups to prioritize rapid scaling over sustainable growth. Many founders pour their energy into impressing investors rather than creating a lasting impact. And when the funding dries up, so does the company. But does this mean the ecosystem is overhyped? Not necessarily. Instead, it signals a need for balance. Nigerian startups should build resilient businesses that address real societal challenges rather than chasing flashy valuations. Investors, too, must shift their lens from immediate ROI to long-term sustainability. Nigeria’s startup space is ripe with potential. However, success lies in taming the hype and building a culture of impactful entrepreneurship. Let me know your thoughts in the comment section #startup #tech #startuplife #techworld #innovation #entrepreneurship #digitaltransformation #futuretech #disruptive #growthmindset #leadership #techstartup #mendevtech

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Excited to share our latest project update! Day 3 🚀 My team (Fatima Jubril and Oguntade Oluwayemisi) and I have conducted a thorough competitive analysis of Stanbic IBTC Bank's landing page, comparing it to First Bank and UBA. Here's a quick snapshot of our findings: Design & Aesthetics: Stanbic IBTC: Strong use of brand colors and a professional look. First Bank: Clean and traditional design with a focus on simplicity. UBA: Vibrant design that appeals to a younger audience. Navigation: Stanbic IBTC: Could benefit from a simplified navigation structure. First Bank: Intuitive and user-friendly navigation. UBA: Clear and accessible navigation, even for less tech-savvy users. Content Quality: Stanbic IBTC: Detailed content that may be overwhelming for some users. First Bank: Engaging and informative content that provides value to customers. UBA: Focuses on highlighting key features and benefits. Performance: Stanbic IBTC: Adequate mobile performance, but could be optimized further. First Bank: Fast and responsive across devices. UBA: Strong performance, even on older devices. CTAs: Stanbic IBTC: CTAs could be more visually distinct and prominent. First Bank: Clear and actionable CTAs encourage users to take action. UBA: Strong CTAs with a focus on digital banking services. Based on these findings, we're working to create a landing page for Stanbic IBTC that combines the best aspects of each competitor while addressing their weaknesses. #UXDesign #CompetitiveAnalysis #StanbicIBTC #Teamwork #UIUX #LandingPageRedesign #DesignChallenge #UserExperience #UXfoundry

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Summary of Lessons to learn from the biggest Startup Failures In Kenya. 1. Innovation is great, but scaling responsibly and diversifying is what counts. (iProcure) 2. Beware of low margins and high costs. Also, success is as much about resilience as it is about adaptation. (Market force) 3. The setup is not just about saving the planet. Sometimes, it's about saving your own balance sheet. (Grow Intelligence) 4. You can have all the ambition in the world and the backing to match it, but without a sustainable revenue model, you're dancing on thin ice. (Copia)

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💎 Embracing Uniqueness: Standing Out in a Sea of Similarity 🌟 While passing by a junction, I noticed another billboard advertising a mobile money platform, ****. Offering convenience for bill payments, airtime top-ups, and more, it struck me how similar these payment apps are here in Nigeria. They all follow the same formula, with identical features and just different brand colors. This got me thinking about the importance of being truly unique in today's crowded market. As a strategic and technical consultant, I'm inspired to break away from the pack and strive to be a 1 of 1. It's not just about standing out for the sake of it; it's about offering something truly innovative and distinctive that meets the needs of our customers in a way that no one else can. In a world where conformity is the norm, embracing our uniqueness becomes a powerful differentiator. It's about challenging the status quo, thinking outside the box, and daring to be different. As I continue on this journey, I'm committed to creating solutions that not only solve problems but also leave a lasting impact, setting new standards of excellence in the industry. Join me on this quest to defy convention and unleash the power of individuality. Let's partner together to enhance the security of your platform, provide a seamless customer experience, and drive revenue growth like never before. #ReviveSales #Innovation #Uniqueness #StandOut #MobileMoney #StrategicConsulting #TechnicalExpertise

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Innovation: Nigeria's Goldmine of Transformation Ever wonder how your smartphone became essential, or how electric cars leaped from sci-fi to reality? That's innovation in action, and Nigeria is poised to be its next frontier! From bustling tech hubs in Lagos to agricultural breakthroughs in the north, innovation is reshaping our nation's future. Did you know Nigerian startups? raised a whopping $1.2 billion in 2022? But that's just the beginning. Imagine a Nigeria where: Drones deliver life-saving medicines to remote villages AI-powered apps help farmers maximize crop yields Renewable energy lights up every home, tackling our power challenges Innovation isn't just about fancy gadgets—it's about solving real problems creatively. It's the key to economic growth, job creation, and improving lives across the country. The most exciting part? YOU could be the next big innovator. That game- changing idea might be yours! So, the next time you spot a problem, ask yourself: "How can I make this better for Nigeria?" What area of innovation fascinates you most? How do you think it could transform our nation? Let's start a conversation and unleash Nigeria's innovative spirit! #ElevateYourProfessionalPresenceWith_Amaka #Day9WithAmakaAmaka Ifeduba #NigerianInnovation #FutureNaija

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#Myfirsthtmlproject NUPAT TECHNOLOGIES Henry Chibuike UgwuNnamdi Ugwu From coding newbie to HTML hero check my first celebrity. Expect my next project on sunnyside #HTML #CodeCampJourney #Nupat Technologies

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🔥 Announcement 🔥 Today we are launching NaijaStars.dev, a platform for exploring the best open-source projects built by Nigerians. In addition we are launching a FREE REST API for developers to access this data. With naijastars.dev you can: - Find the most popular projects built by Nigerians - Sort them by stars and forks - Search for any project by name or author In addition we are also exposing the data via a REST API for anyone to explore: api.naijastars.dev With the API you can: - Get all repos - Sort, order and paginate - Search for any repo The code is fully #opensource and can be found here: https://lnkd.in/d-re9ThB ENJOY THE DEMO:

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Unlocking New Possibilities with Chipper Cash! As an advocate for financial literacy and a software developer based in Accra, Ghana, I'm always on the lookout for tools that enhance our financial ecosystem. Today, I’m excited to share the latest from Chipper Cash, a platform that’s making waves across Africa and beyond. Introducing Cross-Border Investments with Chipper Stocks! Chipper Cash has just launched a groundbreaking feature that allows you to invest in global stocks with as little as $1. Imagine owning a piece of major companies like Google, Visa, and Walmart right from the comfort of your home in Accra. This is a game-changer for anyone looking to diversify their investment portfolio without the traditional barriers. Why This Matters: 1. Accessibility: Chipper Cash is democratizing access to global financial markets, enabling Ghanaians to invest and grow their wealth on a global scale. 2. Convenience: Seamlessly integrated into the app, you can manage your investments alongside your everyday transactions. 3. Empowerment: This feature empowers more people to take control of their financial futures, making investment opportunities available to everyone. Chipper Cash isn't just about moving money; it’s about unlocking new possibilities and driving economic growth. Whether you're an individual looking to grow your savings or a business seeking efficient transaction solutions, Chipper Cash is the partner you need. Join me and millions of others in leveraging this innovative platform to enhance your financial journey. Let's make financial literacy and investment a cornerstone of our lives! Learn More About Chipper Cash: https://chippercash.com #FinancialLiteracy #Fintech #Investment #ChipperCash #AfricaRising #Accra

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It was my pleasure to be invited as one of the panelists at the just concluded Ibadan Tech Expo 2024. I had a great time speaking on Blockchain as an emerging trend and the future of Tech in Oyo state. The panel also dived into discussions around job/career opportunities in the blockchain space for individuals and innovative usecases for the state government as well. The future is decentralized. 🚀 #blockchaintechnology #blockchainadoption.

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