Innovative Startup Companies in Nigeria That Are Thriving In 2020

With entrepreneurship as the bedrock of survival amongst 21st-century youths, opportunities have been established through technology and innovation. They offer great problem-solving opportunities for Nigerian youths and the Nigerian citizens, in general, to eradicate poverty, reduce the alarming rate of unemployment among youths, utilize talents and skills, improve Nigeria’s economy, and kick start your about-to-be successful career or business here in Nigeria without having to go abroad. These aims and objectives can be achieved through startups, industrialization, and small businesses.

In Nigeria, to increase self-employment, eradicate poverty, and make life easier for Nigerians, especially young entrepreneurs, startup companies have been established by creative young Nigerians impacting the lives of young Nigerians in different sectors of the economy. They are really thriving as they are attracting foreign investments and foundations to ensure the eradication of unemployment and promote industrialization and creativity.

In this article, ICT Catalogue will bring you a list of 8 innovative startup companies in Nigeria that are thriving, recognized, and admired globally.

54gene

Launched in 2019, 54gene was established to solve the problems of the of the significant gap in the global genomics market. 54gene is aimed at addressing the need to include the under-represented African genomic data in research that could lead to worldwide health breakthroughs. Also, it is aimed at unveiling the African genome by building African genetic data sets to make landmark innovations and discoveries in the health sector, and to support healing and therapeutic development.

According to a 2018 research conducted by the Genome-Wide Association Studies, less than 3% of the data collected were of African ancestry, and less than 1% of global medicinal research and cure discovery occurs in Africa. 54gene was established to improve health research, develop discovery and innovation of medicinal and health products that will be beneficial to Africans and accepted across the globe.

As one of the innovative startup companies in Nigeria as well as Africa, 54gene, as part of its development, will establish partnerships with pharmaceuticals and diagnostic to improve world class clinical activities in Africa. Currently, 54gene has attracted $19.5 million worth of foreign investments.

Flutterwave

Africa is widely known for underdevelopment in all sectors. Well, not in E-Commerce anymore because with the establishment of Flutterwave in 2016, this financial technology company is aimed at addressing the lack of a global financial technology company that will develop Africa’s e-commerce system. Flutterwave was established to improve the e-commerce sector. That is they offer services to enable e-traders, banks, and businesses build a secure online commercial space.

As one of the most thriving innovative companies in Nigeria, Flutterwave has achieved a whooping sum of $64.5 million in funding, announced collaborations with Worldpay FIS, and has launched e-commerce platforms for small businesses.

Kobo360

Kobo360 was launched in 2017 to improve digital logistics in Africa. They have established what we know as “digital logistics” that collects in-sequence logistics operations to aid cargo owners and truck owners and drivers achieve an effective supply chain framework. Kobo360 is aimed at reducing logistics friction in economical sectors like industry and agric, develop a global logistics operating system that will boost trade among African business and the rest of the world, and legitimize the trading activities for Africa and developing markets.

Lifebank

Also, the health sector of Africa, especially Nigeria is seen as underdeveloped and far from developing or thriving. This is because of the number of deaths recorded in hospitals that are supposed to recorded numbers of survival lack basic life-saving materials like oxygen, blood, and other life-saving materials. Lifebank was established to address this issue by using technology and a multi-modal distribution platform to distribute these basic life-saving materials like oxygen, blood, etc to hospitals across Africa that are in need of these things. Founded by Temie Giwa-Tubosun in 2015, Lifebank has received a total sum of $225,000 in funding, and its founder Temie Giwa-Tubosun was the winner of Africa’s Netpreneur Prize of $250,000. It is one of the most thriving innovative startup companies in Nigeria.

Farmcrowdy

Agriculture has been a significant source of survival in Nigeria as well as Africa as a whole. If this sector is developed well, it will offer Nigeria great economic and global recognition. Farmcrowdy was established to develop the agric sector through agrotechnology. As the first digital agriculture platform in Nigeria and one of the most thriving startup companies in Nigeria, Farmcrowdy aims at connecting small scale farmers across Nigeria with smart farming techniques, quality farm inputs, as well as access to larger markets to earn decent profits asides from their local farming proceedings. Its objective is to be the foremost digital agrotech platform in Africa recognized for its contributions to agronomics, food production, and food security

Over the years, Farmcrowdy has been the foremost digital agriculture platform used by over 12,000 rural farmers. Farmcrowdy was founded in 2016 by Onyeka Akumah, Ifeanyi Anazado, Akindele Phillips, Jimoh Maiyegun, and Tope Omotani in 2016. These great minds have received both local and international recognitions and awards.

PayStack

Paystack is an innovative startup company in Nigeria that makes online financial transactions easy for businesses. It provides a platform that helps business owners receive payment from their website or app from anywhere around the world. With Paystack, business owners can receive money through credit cards, mobile money, and bank transfer. Currently, 15% of online payments and transactions are done with Paystack.

Tizeti

For innovations and technology to thrive across Africa, affordable and reliable internet access is in demand. Tizeti has made the move to take care of this problem. As an innovative startup company in Nigeria, Tizeti provides broadband internet service to densely populated cities in Africa. In other words, it has become a reliable and price-friendly internet service provider in urban areas in Nigeria, as well as Africa. Tizeti has made internet service easy in Africa as it has enabled millions of Africans to access speedy broadband internet through its solar powered buildings in these areas– urban cities.

As one of the most thriving innovative startup companies in Nigeria, Tizeti, currently has over 25,00 public Wi-Fi hotspots installed in Nigerian mega cities and over 1.5 million users across Lagos, Ogun, and Rivers States of Nigeria.

It has also expanded its services to Ghana called Ghanawifi.com. Currently, Tizeti launched its 4G services in Nigerian Mega cities. They have attracted $5.1 million worth of funds.

Piggyvest

Piggyvest is one of the most thriving online saving platforms in Nigeria where entrepreneurs, business owners, and even students can keep small amounts of money in savings to achieve their future goals in investments, businesses, financial freedom, etc. In the last few years, saving tools like Safelock, Target and Group Savings, and Piggyflex have been introduced to help individuals and business owners mange their finance properly. Piggyvest was founded in 2016 by Joshua Chibueze, Ayo Akinola, Nosnso Eagle, Odunayo Eweniyi, and Somto Ifueze. They have attracted over 1.3 millon dollars worth of funds.

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