Technology Innovation Key to ICT Development, Says Elegbe

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Emma Okonji

The Managing Director of Interswitch Payment Platform, Mr. Mitchell Elegbe has called on Nigerians, especially solution developers and software programmers, to imbibe the culture of innovation and creativity, in order to remain relevant in the scheme of things where technology is virtually driving everything we do.

Elegbe, who spoke at the maiden ImpactGen Technology Summit organised by ImpactGen Foundation in Lagos recently, said: “Technology innovation is about ideas and it comes with disruption to existing technologies, which means that people must choose the right technology models and apply them wisely in their businesses in order to excel.”

According to him, any idea that is not able to address specific societal challenges, is dead on arrival and should be discarded immediately.

Elegbe advised upcoming entrepreneurs and technology startups to be proactive always and come up with workable ideas that could address specific challenges in an organisation and the society at large.

Elegbe who shared profound perspectives on the ties between innovation, growth and value creation, said: “All of the world’s greatest corporation such as Guinness, Coca Cola, GE, Ford and Apple are driven by innovation. They either innovate as value proposition or leverage technology innovation to deliver growth and bottom-line impact. They strategically deliver core innovative products, invent new technology and new brealthroughs, harness advancements in technologies while developing world-class talents.”

Other areas of emphasis by Elegbe were on digital technology. According to him, advances in digital technology have created important new industries and new jobs. Technology has brought about significant growth and specialization within diverse industries be it hospitality, health care, banking and insurance and of course manufacturing and retail.

“Today, digital technology is driving unprecedented growth for innovative companies such as Uber, Amazon, Facebook, Alibaba, Airbnb and several others. Technology is helping these companies deliver solutions in much more dynamic, swifter and value filled approach. Their reach continuously grows wider with higher level of market penetration and acceptance that deliver positive bottom line” Elegbe added.

He also emphasised the importance of forming technology partnerships that will foster collaboration and growth. He highlighted how partnering successfully with an industry peer, represents a growing trend among forward thinking companies.

Also speaking, the Founder/Executive Director, ImpactGen Foundation, and the Convener, ImpactGen Tech Innovation Summit, Mr. Greg Malize, stated that “ImpactGen was formed out of a burning desire to provide a platform where millenials can creatively engage with industry experts and thought leaders to share new knowledge and insights in the areas of technology, innovation, leadership and enterprise development. It is committed to creating programs for engagement, learning and networking that foster positive impact thereby raising a generation of impactful youth as future growth catalysts.”