StartupSouth Convener Urges Government to Support Startup Ecosystem Growth

The Convener of StartupSouth Enterprise Development LTD/GTE, Mr. Uche Aniche, has urged both State and Federal Governments to establish a supportive environment for the growth of the startup ecosystem.

Aniche made the appeal on Monday during the opening of a two-day summit organized by StartupSouth for the ninth edition of its technology and business innovation conference in Port Harcourt.

He described StartupSouth as a community-focused development and advocacy group aimed at inspiring and nurturing a robust startup ecosystem across the South-South and South-East regions of Nigeria.

The StartupSouth-9 conference, themed “Deep & Broad: Extending the Frontiers of Technology and Economic Development,” was held in partnership with Xend Finance, MainOne, and Zoho.

Aniche explained that the event aimed to bring together both younger and older generations to inspire them to develop more comprehensive technology solutions, ultimately driving economic growth and reducing poverty.

He also emphasized the importance of states adopting the National Startup Act, which was signed into law by former President Muhammadu Buhari. According to him, this legislation offers support and funding mechanisms, including tax incentives for individuals investing in startups, thereby encouraging more investment in the sector.

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“If states do not domesticate the Act, their residents may be unable to fully benefit from its provisions, such as grants and educational development initiatives,” Aniche cautioned.

Furthermore, he urged the government to review its tax policies to address the issue of multiple taxation, which currently discourages potential investors, particularly in the startup sector.

Aniche highlighted that StartupSouth has generated about $8 million in value across the South-South region but noted that this figure is still a small fraction of what is available globally.

Mr. Ugochukwu Aronu, CEO of Xend Finance and Asset Chain, a key sponsor of the conference, shared that the event attracted around 150 innovators for the Hackathon Pitching competition, from which 12 finalists were selected. The contestants presented Real World Asset Solutions using Asset Chain, with 10 finalists competing for grants totaling $10,000.

Eden Finance emerged as the winner, receiving a grand prize of $1,000, while Safe Launch and FLLOW took second and third place, earning $750 and $500, respectively.

Aronu stated that the prizes are meant to motivate participants to continue developing innovative solutions. He reiterated his organization’s commitment to supporting young Nigerians in advancing the country’s tech and startup sectors.