Tournament username: Gifafo
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faithblessing · 30d ago

From outside the continent

faithblessing · 31d ago

I'd rather talk on what's underappreciated; complete Globalization. Sadly, we'll look back some 10 years from now and wish we had done more. The globalization race isn't all-inclusive, both politically and economically. The slower players aren't lagging behind because they want to, but because they can't navigate their way to the forefront. Politically, countries on the fore front have done much to create equal opportunity for these slower countries, but they can't do it alone, because it's beyond giving grants, loans and relief funds, its way more complex. Economically, innovation that would bring rapid development and good civilization don't look profitable on the short-term or is too risky for investments. But let's take a look at the future benefits; the huge population of an African country that's double of the US could be a new market for internet based startups some 15 years ahead if the country experiences exponential economic development in the next 15 yrs. Such population is hoarding millions of talents untapped, because they are cut off from the rest of the world due to socioeconomic challenges that brought inequality, these large countries have untapped natural resources needed for economic growth by the rest of the world but have remained unexplored due to socioeconomic obstacles. Also, these countries have a population that could sustain a long era of industrialization. Each time I look at these countries, I see huge money, untapped.

Tackling the complex socio-economic challenges of these African countries through innovation might not be profitable in the short-term, but would be beneficial to many countries, industries and Startups. One of the obstacles to bringing innovation to these African countries I would say is just the willingness of innovative people to take a bold step. I believe once there is a will there will be a way. Currently, I would say there exists enough tools (artificial intelligence especially) in the world today that could be put together to bring Innovation that would drive inclusion and modernization in such countries to open up this huge population (huge money) to Inclusive globalization and unlock its talents and resources to the rest of the world for equal exploration. Of course a startup focused on such may not look attractive for a VC fund but in the future it opens doors of profitability for every sector and venture. Bill&Melinda Gates Foundation took a bold step recently to build e-government solutions for Nigeria, that's a good example, though I would say it's because it's a non-profit organisation, so they basically won't be focused on profit, but the usefulness would benefit the rest of the world. It would take time too, because it requires in-depth study of the prevailing socio-economic challenges over a long time before developing and deploying effective solutions. Nevertheless, it pays off on the long-term.

faithblessing · 31d ago

Lol, he really made sense off that word 'CULT'