OAU Tech Enthusiasts: The Challenges Faced by Students Involved in Startups
In Obafemi Awolowo University, some students are deeply involved in tech-related initiatives, showcasing their expertise and enthusiasm for technology through various projects. Despite their passion and knowledge, these students face numerous obstacles that hinder their entrepreneurial journey.
Obafemi Awolowo University (OAU) stands out as a breeding ground for innovation, shaping the next generation of Nigerian tech trailblazers and highlighting the transformative potential of education and community collaboration in fostering revolutionary concepts. The university's vibrant ethos continues to motivate aspiring tech pioneers within Nigeria's rapidly evolving tech landscape. Notable OAU alumni who have left their mark in the tech industry include Tosin Eniolorunda, founder of Moneypoint; Funke Opeke of Main One; Opeyemi Awoyemi and Oluseye Awolowo of Jobberman; Seun Osewa of Nairaland; and Rasaq Ahmed of Cowrywise, among others.
According to data from Stears, Nigerian-educated CEOs from OAU have played a significant role in 25% of startup deals in the country. The statistics illustrated in the chart indicate a consistent trend of OAU-led startups actively participating in deals since 2019.
Emmanuel Olawuni, a student of the Education and Physics Department, is a full-stack web developer specializing in PHP, Laravel, JavaScript, and Typescript. He explained several challenges he has encountered as an individual involved in building personal startups. Firstly, he spoke about funding and financial management. He said, "Securing initial funding can be difficult, and managing cash flow is critical." Secondly, he spoke about market validation, stating that ensuring there is a market need for the product or service is important. "Misjudging market demand can lead to wasted resources and efforts," he added. He also commented on competition, explaining that navigating a competitive landscape can be tough, especially when there are established players with more resources in the game. Additionally, he mentioned team building and scaling as other challenges that individuals face when starting up.
Abayomi Abiodun, the head of Google Developer Students Club, OAU chapter, explained that the main problem startups face in general is funding at the early stage. He said, "They receive little support in terms of funding to take their projects to a global scale."
Feyisayo Awopetu, a student of computer science and a tech consultant, explained that some of the challenges faced by startup founders include the "lack of real-world experience, having to bootstrap, and not having enough data for informed product research."
Michael, a Part 3 student of the Department of Sociology and Anthropology, stated that he found the learning process to be both challenging and exciting when he first ventured into tech. However, the more he progressed, the more he realized that all the hard work paid off. He further added that his initial motivation, like many others, came from the desire to give his parents the best life and secure a future for his children. This sense of responsibility kept him going as he dove deeper into tech.
Michael added that "earning from tech" is a potential hurdle he experienced, as many starters do, saying, "You spend time learning and honing a skill, but the next challenge is finding a job. For me, freelancing platforms became a key solution, allowing me to showcase my abilities and get paid for my work. The downside, however, is that being Nigerian often complicates matters. When clients ask about your nationality, it’s disheartening because of the biases that exist, making it tempting to lie about where you’re from just to get the job. Sadly, Nigerians face such discrimination on many platforms. In the face of these challenges, I remain focused. The setbacks are tough, but they motivate me to keep pushing."
Expert Opinion
In a conversation with Mr. Opeyemi Awoyemi, the founder of Whogohost and Jobberman, he explained that student entrepreneurs should learn to build with little funding. He said, "I did not have to venture into capital funding while I was in school building Whogohost and later Jobberman. I was funded by customers who paid me for services."
He further stated that most student entrepreneurs lack pedigree since all they have is little or no experience. He also said, "family and friends can also fund you. My largest and most important investor in Whogohost was my father who paid for my NIRA.ng registration accreditation."
Mr. Opeyemi also mentioned that students need to know that getting involved in startups is "a marathon, not a short-term game." His advice to students who are just getting into startups is to build their entrepreneurial skills such as ideation, hustling, ambition, sales leadership, business modeling, and people leadership.
He concluded by stating that investors try to see if the startup a student is involved in is just an experiment or a life goal.
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