By RARZACK OLAEGBE
It is impossible for the leopard to change its spots. Likewise, too, the tiger cannot change its stripes. But a new research by the journal, Genetics, has something new about how cats have spots and stripes. The research demonstrates for the first time that three different genes are involved in the emergence of stripes, spots and other markings on domestic cats.
Information from sciencedaily.com has attested to how researchers have determined the genomic location of two of these genes. These genes will help further studies. Eduardo Eizirik, a researcher who is involved in the work from the Pontifical Catholic University of Rio Grande do Sul, Brazil, explained that the study will open new possibility of investigating the genes that are involved in pattern formation. That is the establishment of stripes, spots and other markings. These would include their structure, function and regulation.
The Central Bank of Nigeria has also cracked down on crypto start-ups. These moves have prompted business leaders to approach the government for a more consistent regulatory approach.
“From these studies, we hope to understand how the different coat patterns have evolved in different mammalian groups and be able to investigate their roles in adaptation to different environments such as their importance for camouflage in wild cat species,” Eizirik said.
The researchers hope to identify and characterize the implicated genes and then determine if they apply to other mammals, such as humans. In the same vein, this discussion hopes to identify and establish if the “spots” apply to Fintech start-ups. But first, let us make a declaration. Nigeria’s tech start-up ecosystem is not a leopard but it has its spots and stripes. These markings are as old as the country. As such, it is sufficient to assume that they cannot be changed.
Nigeria has the largest number of start-ups in Africa. But we lag in other important metrics. This was the findings of a new report compiled by fDi Intelligence, a specialist division of the Financial Times in collaboration with a research company called Briter Bridges. The aim is to “map the continent’s nascent tech ecosystems and explore their potential”.
The report has revealed that the investments basket in Africa’s start-up space is little compared to the rest of the world. For instance, start-ups in the United States of America (USA) raised $156.2 billion in venture capital in 2020. African start-ups raked more than $2 billion in the past two years.
However, the fDi report notes that the potential of Africa’s vibrant start-up ecosystem to improve is evident in the impact created. According to the report, a growing number of “success stories” involving digital and impact-focused businesses are driving investor engagement and start-up support. To arrive at this conclusion, certain benchmark was employed. Seventeen countries were selected for evaluation based on being home to several tech hubs, having more than 50 start-ups and attracting investments greater than $500,000 between 2019 and 2020.
Using specialist online tools, in addition to supporting data from Briter Bridges, these 17 countries were judged on categories such as economic potential, business climate, cost effectiveness, connectivity and worker’s experience. On this scale, South Africa came top. This is reflected in South Africa’s relatively advanced start-up scene. South Africa led in the categories of start-up status and business friendliness.
Besides, South Africa is home to one of the most developed venture capitalist networks and the oldest start-up incubator on the continent, which is the Cape Innovation and Technology Initiative. The incubator has supported more than 3,000 entrepreneurs in its 20 years’ history. It provides a ready access to venture funds. It attracts government grants. It has abundant incubators and tech talents. “South Africa is a vision of what other tech ecosystems could become,” the report enthused.
Next on the rung is Kenya. This East African country boasts the highest numbers of coding schools and is a forerunner in the African Fintech space. Behind Kenya, we have Nigeria. Nigeria has the highest volume of start-ups – 750. While South Africa raised $241 million in 2020, Nigeria gathered $64.1 million. Nigeria missed the top 10 rankings for categories that are critical to helping a startup thrive beyond its founding. The blemish or spots for Nigeria include cost effectiveness, lack of country-wide tech talent and business friendliness.
These “spots” cannot be changed overnight. It takes a deliberate action plan. It takes willingness and support from the federal government to move things forward. It takes a vibrant venture capitalist circle to overcome the challenge of adequate funding. It takes more than lip service to obliterate these spots. These are few possibilities. Anyway, you are aware of the frustrating state of conducting business in Lagos, Nigeria. As entrepreneurs, either you are a startup or legacy owner, you must contend with stifling government policies, multiple taxes and decaying infrastructure.
What a tech start-up need to keep moving forward is more than talent, real estate and funding. A start-up needs “a reliable internet connection”. But as some of the startup owners I spoke with attested, there are other “host of other systemic challenges” underneath. Some are so glaring. They cannot be hidden. These are “spots” that have become endemic. They seem to have defied solutions. How do you begin to change such spots? Where would you start? Who will bell the cat?
To buttress my observation, the report informed that “although Lagos is renowned for its start-up ecosystem. There is a significant disconnect between the city’s tech ecosystem, its surroundings and the wider country, which suffers from chronically poor infrastructure and education and recurring political instability and security issues.”
Like the leopard, Nigeria has found it extremely impossible to change these spots. These spots are glaring. You can touch them.
These are the issues confronting the tech start-ups. These are issues that other countries such as Morocco and Tunisia have combated. The report observed that these two countries have enacted reforms that have supported start-up growth. For instance, Morocco won in the connectivity category. Morocco plans to improve its digital infrastructure. Tunisia’s 2018 start-up act has positioned science and technology at the heart of its goals for economic transformation. Tunisia is praised for inspiring similar acts in other Africa countries.
This is the report’s thesis: Nigeria’s promising start-ups have the potential to contribute significantly to the economy. But some start-ups have had to stop operations due to the rapidly shifting government policies. For example, the bike-hailing apps, the popular alternatives to Lagos’s traffic jams and poorly maintained road network, have been banned for safety and security reasons by the Lagos State government. The Central Bank of Nigeria has also cracked down on crypto start-ups. These moves have prompted business leaders to approach the government for a more consistent regulatory approach.
Like the leopard, Nigeria has found it extremely impossible to change these spots. These spots are glaring. You can touch them. Here is a shortlist: Challenging business environment, epileptic infrastructure, insecurity, lack of adequate funding and poor education. “This is what prevents Nigeria from excelling,” the report concluded.
*Olaegbe ([email protected])
