Across Nigeria, there is a nascent but mobile health tech undercurrent filled with startups of various sizes solving various problems within the healthcare value chain. However, these startups are faced with a number of challenges including funding, an opaque regulatory environment, poor market access and fragmentation.
During the first panel session at TC Townhall: The State of Health Tech in Nigeria held on 25 January 2019, participants shared insights about overcoming the issues health tech entrepreneurs face. Moderated by Ezinne Anywanwu (CEO, Efferent), the panel featured Abimbola Adebakin (CEO, Advantage Health Africa), Adesimbo Ukiri (CEO, Avon HMO) and Bryan Mezue (CEO, Lifestores Pharmacy).
“We need to educate consumers and change their behaviour,” Ukiri said regarding dealing with cultural beliefs about healthcare. Mezue recommended entrepreneurs look beyond Nigeria, and also Africa, when seeking funding, encouraged celebrating every win to continue to draw attention to the growing ecosystem.
“Healthcare needs to position itself to scale like fintech,” Adebakin pointed out. She recommended that entrepreneurs be mindful of their language when interacting with investors so their organizations don’t seem like charity organizations.
The panel concluded by presenting the 3S solution (standardization, scale and sustainability) to growing Nigeria’s health tech sector.
Watch the full conversation in the video below:
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