The next decade: What's next for Prime startups and Africa's tech future?

Business Insider

25-07-2025

LAGOS, NIGERIA – July 14, 2025 – The electrifying energy of Lagos Startup Week (LSW) 2025, themed "DND – Disrupting the Next Decade," successfully concluded over the weekend, igniting critical conversations and showcasing the audacious spirit of African innovation. For Prime Startups, the driving force behind LSW, this 10th-anniversary celebration served not as a culmination, but as a powerful launchpad for defining the next decade of unprecedented growth, impact, and a truly global footprint for African tech.
The opening of this milestone 10th edition was graced by the presence of the Deputy Governor of Lagos State, Dr. Obafemi Hamzat, who delivered a compelling keynote address on "How Lagos Is Powering the Next Decade of African Innovation." Dr. Hamzat underscored the state government's commitment to fostering a vibrant tech ecosystem, stating, "Lagos is not just a city; it is a living laboratory for innovation. Our government is dedicated to creating the enabling environment, the policies, and the partnerships that will ensure Lagos remains the undeniable engine driving Africa's technological revolution for the next decade and beyond." His remarks set a powerful tone for the discussions, highlighting the crucial synergy between government support and entrepreneurial drive.
Also present at this year's Lagos Startup Week were key enablers of the startup ecosystem, including the First Lady of Lagos State, Her Excellency, Ibijoke Sanwo-Olu (ably represented by Oyinkan Osiyemi); Olatubosun Alake, Honourable Commissioner for Innovation, Science & Technology, Lagos State; Michel Deelen, Consular General of the Kingdom of the Netherlands in Lagos, Nigeria, Carlos Roja-Arbulu, the Deputy High Commissioner of Canada to Nigeria; Peju Adebajo, Acting Board Chairman, Lagos State Employment Trust Fund (LSEFT); Emmanuel Emefienem, MD/CEO of Premium Trust Bank; and Francis Sani O., Program Director of 3MTT Nigeria. They all shared valuable insights.
The past decade has witnessed this vibrant hub transform, attracting substantial investment and fostering a dynamic ecosystem that punches above its weight on the global stage, including the emergence of several highly valued enterprises. Prime Startups laid the foundational infrastructure, turning scattered potential into a cohesive innovation pipeline, celebrating the growth of numerous successful ventures and championing impactful programs.
"Our journey over the last ten years has been about more than just finding promising startups; it's about moulding them into resilient, market-leading companies," affirmed Olumide Olayinka, Partner at Prime Startups. "We get excited about the innovative idea, but we are passionate about the commercial success that follows because that's where true, sustainable impact lies. Every job created, every market expanded, every dollar raised is a powerful indicator of African entrepreneurship's potential and our unwavering commitment to helping it thrive."
Looking ahead, Prime Startups' vision is clear: to deliberately cultivate a new generation of global growth companies that will redefine Africa's global standing. This audacious goal begins with deepening the innovation pipeline, nurturing diverse founders from their earliest stages, investing in foundational skills development, and strengthening university-to-startup bridges to catch the entrepreneurial spark the moment it ignites. Concurrently, Prime Startups will strategically focus on next-gen technologies, ensuring African founders are at the forefront of frontier areas like AI, blockchain, climate tech, biotech, and advanced manufacturing through specialised programs and expert guidance.
This commitment extends to scaling with a purpose, intensifying efforts to ensure growth companies not only achieve commercial success but also create sustainable jobs, foster economic stability in their communities, and deliver profound social or environmental impact. Finally, the vision includes strengthening intra-African ecosystems, building robust bridges between Lagos and emerging tech hubs across the continent to facilitate cross-border investment, enable founder mobility, and foster a truly pan-African innovation network where ideas and talent flow freely. LSW 2025 served as a dynamic preview of this future, highlighting conversations on building resilient ventures and spotlighting pioneers already leading the charge. Prime Startups' enduring commitment remains to the next generation of founders, empowering them through expanded access to capital, enhanced mentorship, and practical training. Crucially, the next decade will accelerate the export of African innovation through global market access programs, showcasing African tech excellence, and fostering global partnerships. Strategic partners for this year's conference included Carbon Business, Presmit, Suregift, Paystack, Vesti, Indrive, GaraMart, Gigmile, Yamify, Arise Capital, Acktivate, AfriLabs, Ventures Platform, Kora, Lagos State Employment Trust Fund (LSETF), Gridcrux, among others.
"The spark we saw ten years ago has ignited a fire, and now, it's time to direct that flame strategically," added Olayinka. "The next decade will be about unlocking the full, undeniable power of African ingenuity, taking our innovations from local brilliance to global leadership. We are building the infrastructure, nurturing the talent, and forging the partnerships to make that not just a possibility, but a certainty. Join us, because the future of global tech is being built in Africa, and Prime Startups is right there, at the heart of it."