“Collaboration requires mutual respect and clear communication” – Linda Ochugbua
Interswitch Group, a leading African integrated payments and digital commerce company, hosted its first Startup Innovation Mixer on January 24, 2025. The event, themed “Unlocking Synergies between Startups and Established Corporates,” was held at the Interswitch Innovation Hub in Lagos.
Linda Ochugbua, Digital Sales Manager at BusinessDay, underscored the importance of startups strategically positioning themselves for successful collaborations. She remarked, “When seeking partnerships, it is crucial to position yourself in a way that adds value to the collaboration. Understand the needs of the larger organisation and align your solutions with those needs. At the same time, maintain your unique identity and ensure you are not overshadowed or sidelined in the process. Partnerships thrive when both parties bring something essential to the table.”
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During the event, Linda shed light on transitioning from an idea to creating a successful entity. She emphasized the importance of storytelling, marketing, legal registrations, and more. Yet, despite the valuable insights, some founders still hesitate, waiting for funding to make their big move—even after crafting impressive pitch decks. She posed a reflective question: “If I were given 10% of the funding I’m seeking, what would I do with it?” She suggested that answering this question provides a starting point. “Begin by raising that 10% on your own,” she encouraged, emphasizing the power of taking initiative.
The event also explored how to attract the right talents while bootstrapping as a founder. Ochugbua outlined key steps for early-stage founders: Start by building your vision and structure, even if imperfect. Focus on essential skills and gain basic knowledge of the roles you need. Engage individuals who align with your vision, offering tangible compensation like stipends or equity. Validate ideas through surveys or user testing, and foster a collaborative, productive culture, whether on-site or remote.
Adaobi Okerekeocha, Chief Innovation Officer at Interswitch, highlighted the event’s significance in driving innovation across Africa. She said, “At Interswitch, we believe collaboration is the bedrock of innovation. As the tech and innovation landscape in Nigeria and across Africa continues to evolve, its immense and untapped potential calls for platforms like this to unlock new possibilities. Our Startup Mixer series represents a pivotal step toward building a vibrant community where startups and established corporates can exchange ideas, explore opportunities, and forge synergies that drive impactful solutions.”
The event featured panel discussions and networking sessions, fostering meaningful exchanges. A key panel, moderated by Akeem Hassan, Technical Adviser to the Honourable Commissioner, Ministry of Innovation, Science, and Technology, Lagos State Government, explored strategies for collaboration between startups and corporates.
The Startup Innovation Mixer reflects Interswitch’s commitment to fostering innovation and collaboration within Africa’s tech ecosystem, ensuring sustainable growth and impactful solutions.
