Tell us about VivaTech.
Viva Technology is the biggest tech, digital, and business event in Europe. It was created in 2016. So, it is a young event, but it is already a success. Just to give you an idea, last year we welcomed 165,000 people coming to VivaTech for conferences, networking, and, of course, for business.
The idea of VivaTech is to bring together from all over the world all the stakeholders of innovation. So, you have thousands of startups coming from 120 countries. We have tech leaders like Google, Meta, IBM, etc. We have the corporate sector, which is very important for us because they come to VivaTech to tell us about the digital transformation they are doing in their sector.
We have luxury, transportation, banking, insurance, retail, health, and all these key sectors in the world. We have the public sector with national pavilions. So, at VivaTech, you have 45 countries coming with the best of their ecosystem. You have Japan, India, South Africa, Brazil, Germany, etc. Altogether, it is a kind of world expo of the best of tech, digital, and startups in the world.
Why are you here in Nigeria?
Nigeria is one of the key countries in the world for tech and digital at the African scale but at the global scale also. And for the time being, Nigeria has just a small participation in VivaTech.
We want to give Nigeria the place it deserves at VivaTech to showcase the quality of the startup ecosystem and all the things that you are doing here in your country this year.
What is your perception of the Nigerian tech space?
I think it is one of the most dynamic ecosystems, especially in some key sectors like fintech. Also, you are developing artificial intelligence, for instance, in edtech, etc. And I think you are a leader. We at VivaTech are always interested in leadership and new ideas.
What we try to do is to show that in tech and the digital agenda, you don’t just have Silicon Valley. You have many, many other places in the world. And we try to bring the best of what the world can give to tech and digital. And I think that in Nigeria it is amazing. This is what we want to highlight at VivaTech.
We have observed that funding is beginning to thin out, especially in the tech startup space. How do you think startups can manoeuvre or cope with this?
I think there is a shift in the way startups are thinking of their development. For years, it has been with investors investing a lot of cash that was burnt. Now, post-COVID, it is a little bit different because the investors have less money, or at least, they are a little bit more anxious to invest in tech and digital. So, it is not possible to get as much money as before.
So, now the startup must work on a bootstrapping approach, meaning that they must find clients; they need to have the revenue to tell people, to show people, to show the market that it is not just a project that will be profitable in 10 years, but already now there are very interesting possibilities and opportunities. I think that this shift is very, very important for the startup.
I think that at VivaTech we are a place where we can help all the startups, including, of course, the Nigerian startups, to find clients and businesses. Because when you have people like Verizon in telco, when you have people like LVMH in luxury, when you have people like Hyundai in transportation, coming to VivaTech to source the new groundbreaking innovation from the startups, they are here to sign contracts, and they come to VivaTech with the will to sign contracts.
Most of the funding that African startups get comes from Europe and America. How can they harness local funding?
I think that the question now is to see at what level of development the startups are. If they are at the beginning of their development, they need to have local partners because these partners will open the local market.
And once it is done, once the national market is good for the startup, then it is important for them to find foreign investors that will link them to new markets. It can be marketed in Europe, Asia, or America.
But I think that the question is not to have local, national versus global investors. All are good to take, but the question is what level of development they are, and then they will find the right level of investors from a geographical point of view.
We saw that initially the US government was to ban TikTok in the US, and Trump came and said they should put it on hold. What is your position on this?
I think we will have a lot of surprises, and I think it is very difficult at this moment to say what will happen to TikTok in America because two weeks ago we thought it was over. Now it is back, but there are discussions. Maybe we can read it in the media with Elon Musk. So, I think it is time to wait. We used to say wait and see, and I think it is the best thing to do regarding TikTok.
What can Viva offer Nigeria?
We offer a lot of things. As I said, we offer the possibility to network and meet a lot of business decision-makers in tech and digital. I think it is a B2B event. Just to give you an example, last year we welcomed 55,000 CEOs, CIOs, CDOs, and CMOs. All the people in companies who are in charge of investing in buying solutions in tech and digital products. So, we can offer a lot of business opportunities.
We also offer them the possibility to meet with investors from Europe, the US, and Asia. Last year, we had 3,000 investors at VivaTech. Also, we can give the floor to the Nigerian ecosystem. We have the possibility to showcase them, to make them meet with global media. We want them to be at the forefront of what is the best of tech and digital. And these are all the things that we can offer.
I can give you an example. Every year we have what we call the Africa Tech Award. It is based on fintech, climate tech, and edutech. And the idea is it is an award for the most interesting, the most promising startups on the continent.
Last year, Curacel, I’m not sure of my accent, sorry. It is a Nigerian startup working on insurance and AI. They won the Africa Tech Award at VivaTech. So, they came to VivaTech, we had a programme for them, and I can tell you it was an amazing boost for them.
Power is still a major challenge in Nigeria. How do you think the country can explore tech to address that challenge?
Of course, power is the key to tech and digital. What is amazing about Nigeria is the fact that you have all the resources. You have oil, gas, dams, and the possibility to use a solar plant, etc. So, I think that the question, and I’m not a specialist, is to see what the question is. Is it a question of production? Is it a question of distribution? Is it a question of selling and this kind of thing? But you have everything to be the most, I would say, stable power countries in Africa, for sure.
Do you think regulation is robust enough to support development in our tech space in Nigeria?
I’m not a specialist, so I won’t tell you anything. I’m here just to discover.
What is the vision of your organisation for Nigeria? Maybe you want it to be in your top three countries in the next five years.
This is the place that Nigeria deserves. When you look at the importance of the dynamism of your ecosystem, we should be able to create new relationships between what is happening in Europe and also all over the world. I think it is time for Nigeria to take the place it deserves on a global scale.
With Trump coming here and his America First agenda, what does that mean for the tech space?
I think it is an opportunity. For years we have been considering, and it is true that Silicon Valley, the US, is big. They are the leaders. Of course, they are. But now we see that China, for instance, is not a challenger anymore; it is a leader. We also see there are new regional models that are emerging.
I can tell you, for instance, that this year at Vivatech, Canada will be the country of the year. Every year we have a country of the year. This year it is Canada. And for instance, in AI, they are doing amazing things. We also have a lot of things with the Pacific Islands, and they are creating a new way to innovate and to work together.
I think that with what is happening in the US, there is a possibility for other models, and I think that in Nigeria you have your own models to emerge and to spread and to tell people. Tech is not a monolith; it is diverse. Now, it is time to give the floor to all the possibilities and not just the US model.
Are you planning to have a presence in Nigeria?
For the time being, we are trying to create partnerships with local actors in Nigeria.
Can you give us the names of prospective Nigerian partners?
We are discussing this with the Ministry of Communications and Digital Economy. We are discussing with investors and incubators. We are open to all discussions.
What is your parting word for Nigerians?
I want to tell Nigerians to come to VivaTech; we will welcome you as you deserve, and I can tell you that it will be a game changer for the ecosystem and for all the great things that are happening here in Nigeria.