“VENTURES AFRICA – Celebrated Nigerian internet entrepreneur and iROKOtv CEO, Jason Njoku and partner, Bastian Gotter, today announced the official launch of SPARK, a $1m-backed company to support and develop aspiring Nigerian tech and Internet entrepreneurs.
The Lagos-based company said in an official statement it “is set to fill the vacuum that currently exists in the country’s angel investment ($30,000 to 75,000 funding level) eco-system.”
Managing Partner of SPARK, Jason Njoku says: “In Africa, we’re witnessing an exciting metamorphosis, from a tech ‘scene’ to a tech ‘revolution’, where Lagos is very much the gateway for the entire continent. The creativity, talent, the spirit of entrepreneurship is here but Nigeria’s business eco system isn’t set up to adequately support start-ups in their earliest days. Our intention with SPARK is to act as the catalyst to a period of aggressive and exciting growth in Africa’s Internet sector.”
The move comes amidst significant disruption in the Nigerian Internet scene; fast becoming one of the country’s most prolific and exciting sectors, many entrepreneurs struggle to make the transition from idea to business, due to prohibitive start-up costs, a lack of on-the-ground angel investment opportunities, a lack of access to trusted mentorship and business bureaucracy. . .”
Ventures Africa has the full story.