Venture Capital – Advocacy Group| We are devoted to providing solutions by engineering development through new perspective.

The Venture Capital Advocacy is a specialist gathering structured to introduce the concept to the country as a solution to meeting the creativity/productivity gap in the country. The summit brings all the stakeholders in the country together with both local and international investors, experts with the primary objective of domesticating the Venture capitalism culture in Nigeria.

Nigeria’s absence from the global venture capital space is directly a consequence of the instability of the economy.

1 What Is The Venture Capital Advocacy Summit All About?

One Of The Enduring And Global Reputations Of Nigerians Is That They Are Very Creative And Entrepreneurial People. Unfortunately, This Has Not Translated To Economic Power As Evidenced By The Current Economic Collapse After The Demise Of The Oil Sector.

The Venture Capital Advocacy Summit As The Name Signifies Is A Specialist Gathering Structured To Introduce The Concept To The Country As A Solution To Meeting The Creativity/Productivity Gap That Has Inhibited Translating The Legendary Nigerian Fame To Economic Power.

The Summit Will Bring All The Stakeholders In The Country Together With Both Local And International Investors, Experts With The Primary Objective Of Domesticating The Venture Capitalism Culture In Nigeria.

2 Why Has Nigeria Been Missing From The Venture Capital Space?

There Are Limited Private Equity Activities In The Financial Sector Of The Country Primarily Geared Towards Established Entities That Are Seeking Foreign Investment. It Is A Niche Service Whose Clientèle Is So Defined. To A Considerable Degree Nigeria’s Absence From The Global Venture Capital Space Is Directly A Consequence Of The Instability Of The Economy. For Instance The Unpredictable Nature Of Our Foreign Exchange Regime Means That Dealing With Serious International Investors Is A Considerable Challenge.

3 How Has It Been Working In Other Countries?

The United States Of America Is The Preeminent Exponent Of Venture Capitalism In The World. As Matter Of Fact, It Is Impossible To Imagine The American Economy Without Venture Capital. According To The US National Venture Capital Association, 11% Of Private Sector Jobs In The USA Come From Venture-Backed Companies And Venture-Backed Revenue Accounts For 21% Of US $18 Trillion GDP (2015)

4.How Will The Venture Capital Culture Be Introduced And Sustained?

The Key Word Here Is Domestication. On The One Hand, There Are Millions Of Nigerians Out There With Ideas That The Traditional Means Of Funding I.E. Banks, Government Have Not Been Able To Service Hence The Struggling Economy And On The Other Hand A Lot Of Nigerians Have Disproportionately Benefited From The Dysfunctional Economy And Are Sitting On Piles Of Idle Funds With No Idea Of How To Best Invest To Help Grow The Economy.

So Three Is A Need That Could Be Met By Structuring The Two Elements For A Very Robust Venture Capital Culture In Nigeria.

5 What Are The Roles Of The FG, States And The LGs?

The Roles Of The Federal Government And The Other Tiers Of Government Is Primarily Creating The Climate For Private Sector To Grow. It Is Important That Government At All Levels Ecourage Creativity, Inventions That Are The Rudiments Of Entrepreneurship. A Lot Of Attentions Need To Be Given To The Universities And Colleges Of Technology Environments So That Ideas Can Germinate For Venture Capital To Help Turn To Economic Power. These Are The Oasis That Could Converge Over Time.

6 What Are The Roles Of The Private Sector?

The Venture Capital Ecosystem Would Transform The Private Sector Landscape In Nigeria. It Is Therefore Important That The Organised Private Sector Understands That Venture Capital Would Dramatically Help In The Diversification Of The Economy By Supporting New Growth Areas That The Country Badly Needs.

7 What Are The Roles Of The National Assembly?

The Two Houses Of The National Assembly Specifically The Senate Committee On Trade & Investment And The House Committee On Commerce Have Both Been Outstanding In Their Appreciation Of What The Venture Capital Advocacy Summit Could Do For The Economy At This Difficult Time. Both Have Promised To Collaborate With Us And Other Stakeholders To Ensure That The Enabling Legislation Are Put In Place For The Entrenchment Of Venture Capitalism Culture In This County.

8 The Commitment Of The Major Stakeholders To The Summit?

We Are Really Appreciative Of The Commitment Of The Aforementioned Committees Of Both The Senate And The House Of Representatives, The Central Bank Of Nigetia Towards The Success Of This Summit And Assurance Of Future Collaboration With Us And Other Stakeholders In The Quest To Entrench The Venture Capital Culture In Nigeria.

9 The Benefits Of The Venture Capital Advocacy Summit To Nigeria?

The Venture Capital Advocacy Summit Is The First Of Its Kind In Nigeria And It Will Open Up A New Avenue For Turning Ideas To Products. The Venture Capital Ecosystem Will Create Jobs, Knowhow That At The Moment Does Not Exist Because It Will Be A New Beginning For A Lot Of People And A Lot Entities.

On The Whole, The Summit Itself Would Be Unique In Setting And Result As The Event Would Mark The Onset Of An Advocacy That Promises To Transform The Entrepreneurial Landscape Of Nigeria For Ever. It Is Massive.