The first thing that comes to mind when we talk about Africa is wild animals and poverty. But small businesses and government institutions are redefining the world’s view of the continent. Africa is rich in innovation. It is estimated that Africa will change more in the next century than it has in the past ten years.
When it comes to new business, we can’t help talking about innovation. But the question is… What does it mean? Innovating is to progress. It can be considered as the route to reach a goal that someone had never followed before, that is to say, to provide new ideas in a certain area to achieve an objective based on the groundbreaking and creative methods.
It should be noted that innovation is not just about inventing. Carrying out this process may involve changing and residing in some plan that is available to obtain fresher material, services or products. Innovation can be the impetus that a new business needs to take a stand in the market and remain competitive.
Innovation for new businesses and markets
For new or small businesses, innovation is a key point. At an economic level, for example, it works to boost financial growth through organic growth in conjunction with innovation. Yet, from a perspective that is a little easier to understand, it can provide benefits that, at first glance, turn out to be simple but can be defined when it comes to success.
The United Nations predicts that Nigeria will be the third-largest country on the planet, with a population in excess of one billion, by the next century. This growth is huge and will put pressure on the economy to open more opportunities. We already see mobile platforms becoming prominent in African countries. The rise in mobile technology here is greater than anywhere else, resulting in the emergence of social and commercial innovation.
One of them is the possibility of solving problems more easily; creativity can be our best ally when handling situations that need specific and original solutions. On the other hand, we have produced. Being ambitious and ingenious is a great way to improve it and, also, it can contribute positively to the establishment of more cutting-edge products.
A factor in favour of small businesses is that they can implement modern ideas much more easily than large companies since the latter need to perform different processes in order to develop something new. One factor in favour of small businesses is that they can implement modern ideas much more easily than large companies since they need to perform different processes to develop something new. In contrast, a business that is just being launched into the market is free to execute any movement that it requires.
What types of innovation are we seeing in Africa?
3D printing – A local tech startup, called WoeLabs, in Togo, used the waste from electronic products to create a 3D printer. This is the first of its kind in Africa. The Tanzanian lab wants to use discarded electronic parts to build more of these useful devices and place them in schools for educational purposes.
Pneumonia-detecting device – Brian Turyabagye, a Ugandan inventor created a biomedical smart jacket that can diagnose the condition four times faster than a doctor.
VR for agriculture and mining – to support the research in these industries, a South African university team have built a safe, yet accurate training on VR. One example, students see a simulation of a mining environment and can explore the safety precautions and conditions as if they were real.
In addition, when talking about marketing business, innovation begins to play. The main idea is to construct an ingenious marketing plan as clever as possible that adapts and uniquely describes the personality of the business so that its identity can be enhanced. And, obviously, it is a great and favourable tool when it comes to fighting competition. Taking advantage of existing strengths and opportunities in an intelligent way can grow the business considerably compared to others.
It is very important to know that it can be innovated in several ways, for example, it can be done in a technological manner; which refers to the resources and implements to be used or, similarly, it can be innovated strategically, in which the work plan is modified with resourcefulness. Furthermore, it can be performed gradually, that is, in steps; or radically, in which changes are made suddenly.
Innovation Management is increasingly becoming more important in African business. Companies need to develop ideas and implement them successfully. They use tools like innovation software in order to connect employees and involve them in the idea generation process.
Remember that we live in a dynamic society that is constantly looking for new things, so you must take advantage of that and innovate, and in less time than you think, you will see your business become a giant.