My 14 Predictions for the Nigerian Technology Space in 2014
I think it is a fun and useful exercise doing predictions. It is a way of documenting wishful thinking and testing your perception abilities. Looking back, it would show how far along you have come.
Here is my attempt 3 years ago http://oonwoye.com/2011/01/04/10-predictions-for-the-nigerian-tech-scene-in-2011/
For the coming year, here are my predictions it is a combination of positives and negatives. Nothing outlandish as we are predicting only one year out.
- Payments solved: Nigerian tech companies will have their payment problems solved (most likely NOT by a Nigerian company). i.e stored card data will enable reoccurring billing which is the lifeblood of software startups. Paypal will arrive. Finally.
- Major exit: There will be a massive exit for a Nigerian startup (not Rocket). Massive meaning over $80million. I have no idea of the space.
- Major casualty: Likewise, there will be a massive failure of a funded company. A bankrupt startup or a founder kicked out of his/her company. Lots of media startups will close their doors.
- Tech will go mainstream: Tech founders will get the recognition that has been missing. Red carpets and magazine covers for our sector will become commonplace.
- International companies will come: Facebook, Twitter et al will set up proper shop in Nigeria. Google will go beyond their sales cubicle. Hello Deezer!
- Cash will flow in: There will be a lot of inbound money invested in the technology space. $100million at least will come in. The low amount is because of the uncertainty of the Nigerian elections coming up
- Rocket will Exit Africa: They are done with here. But they’ll be dusted as they sell off everything they have and move on to other things.
- Corporate venturing will take off: MTN has shown the way. We love to copy. Do not shut down that your streaming app just yet, the buyers are looking out.
- Incubator time: Many commercial play incubators will begin to sprout. There will be at least one foreign one that will be for Nigerian startups (as against the Rocket model)
- Tech + Politics: Technology and social media will dominate the political landscape. This is fairly obvious but it will be on another level far beyond SMS broadcasts
- Global Nigerian Startups: We’ll have our Representatives in Y Combinator, TechStars and 500 Startups. Of course we will start appearing on TechCrunch, Pando, Re/Code. #Primetime.
- Broadband: Everything will change with the sale of 2.3MHz spectrum.
- Live streaming: The plummeting of broadband costs will mean a lot of live casting will take off this year. Video will be big.
- Education: This is the next ecommerce for Nigeria. Everyone will do an education startup this year. At least two will have the same name 😉
Swift – Visafone: There will be an acquisition and/or merger involving these two.
Nigerian Sex tapes: They will go mainstream. Tonto Dike mainstream 😉
What are your predictions for the Nigerian tech space in 2014?
PS: Please forgive the typos. I did not predict I wilt be typo free.