A tech hub is a community that fosters innovation, and offers support, facilities to tech entrepreneurs, consisting of incubators, accelerators, technology parks, etc.
Tech hubs have continued to gain massive recognition in so many countries across the globe, which is a potential catalyst for the promotion of economic growth across all sectors.
According to findings, there are about 50 technology tech hubs in Nigeria, as technology in the country continues to expand.
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Just like Silicon Valley which is the world’s tech powerhouse, home to the world’s biggest technology companies. Establishing tech hubs in Nigeria will no doubt develop the tech sector which will give room for the creation of more start-ups that will positively impact the country’s economy.
These hubs create an environment that encourages experimentation with certain technological advancements which also help firms to network efficiently. Currently, Nigeria is the continent’s leading home of tech hubs that nurtures economic growth through creativity, innovation, and entrepreneurship.
With the number of tech hubs in the country rapidly increasing, it has no doubt transformed business operations in the country, as different disruptive technologies are evolving with a newer approach to solve age-old problems of business operations.
It is interesting to note that Nigeria has recently been witnessing a significant increase in the number of tech hubs in the country, which has led to the creation of so many tech startups. In the process, these have created a lot of jobs for unemployed youths in the country.
Recall that the bank of industry (BOI) last year announced its plans to establish tech hubs in the country to tackle the issue of unemployment in the country.
The bank further disclosed that it would sponsor tech hubs in recognition of talented youths in the society, which will channel these youths to be more productive and impactful to society, rather than subscribing to social vices.
Infusing technology into business in this present digital world will no doubt make businesses and the country more competitive, also the tech industry can be a major pillar of a diversified economy.
These tech hubs will provide spaces where high-tech business growth would be accelerated, thereby bringing prosperity to communities. A Forbes report disclosed that Africa has over 643 tech hubs that have spearheaded the launch of hundreds of tech start-ups. Impressive!
Once these start-ups are created, they can play a very significant role in the economic growth of the country. Start-ups no doubt create more jobs for a lot of unemployed youths.
When a large percentage of youths are actively engaged it automatically means an improved economy. These start-ups also inspire individuals to be more inventive thereby creating more entrepreneurs.
An innovative society is important to the advancement of the country’s economy, as It’s responsible for solving collective problems in a sustainable and efficient way, usually with new technology.