Startups, Industry Events & Endless Advice: What Moves the Needle?

I’ve been in multiple rooms in the past month—pitch events, networking sessions, panel discussions, and investor meetups. It’s been an eventful stretch, filled with insightful conversations, exciting startup ideas, and the usual mix of optimism and skepticism that comes with the startup ecosystem. Every event had its unique energy, from high-stakes investor pitches to casual fireside chats where founders shared their war stories.

As I step back to process it all, a few key themes keep surfacing. Beyond the buzzwords and the polished presentations, there’s a growing tension between advice and execution, a shifting narrative around what sectors truly drive value, and a renewed appreciation for the power of real-world connections in an increasingly digital-first world.

The Ecosystem is Overflowing with Advice

There’s no shortage of advice in the startup ecosystem. Founders are constantly told what they should do—“focus on traction,” “refine your unit economics,” “build a scalable model.” But for all the expert opinions and strategic guidance, there’s still a glaring gap between advice and execution.

Many founders attend multiple events, soak in the wisdom, and then… nothing happens. They get stuck in a loop of consuming information without implementing it. It begs the question: Are we mistaking activity for progress?

Knowledge-sharing is great, but if execution doesn’t follow, then we’re just talking in circles. The real challenge isn’t a lack of insight—it’s a lack of structured action.

But beyond the generic advice overload, there’s also a misunderstanding of mentorship and advisory relationships.

I recently asked a founder—who had a heavy-hitting board of advisors—how often he actually engaged them. Had they ever had a formal advisory board meeting? His response? They had never met as a group. He just reached out to different advisors individually when he needed something.

That told me something deeper: founders often collect advisors like trophies but don’t fully utilize them. Many listen to the advice that aligns with what they already want to do and ignore everything else. But true mentorship isn’t about cherry-picking advice that feels convenient—it’s about actively engaging with mentors, hearing uncomfortable truths, and letting guidance shape your decision-making.

So again, the question isn’t whether advice is available—it’s whether people are actually using it meaningfully.

Why Are Most African Unicorns Fintechs?

Just yesterday evening, at one of these events, someone asked me: “Why are most of Africa’s unicorns fintech companies?”

It’s a valid question. Across the continent, fintech dominates the unicorn list—Flutterwave, OPay, Chipper Cash, Interswitch, and the like. Meanwhile, sectors like healthtech, agritech, and logistics struggle to produce billion-dollar valuations at the same rate.

But we must also recognize that other industries are growing too—and rapidly. The Financial Times recently published a list of the 125 fastest-growing African businesses of 2024, and interestingly, only two fintechs made the top 10. Companies like Bisedge (logistics), Omniretail (e-commerce), and Wasil (agriculture) are leading the charge in their respective industries, making the top 30 and proving that high-growth businesses aren’t limited to fintech.

That said, fintech’s dominance is not accidental—it’s built on decades of banking infrastructure development. The financial industry in Nigeria and across Africa has evolved tremendously, from the days of manual banking and tally numbers to the digital-first banking era, with platforms like etranzact and Interswitch laying the foundation for online transactions. Fintechs didn’t have to build this infrastructure from scratch; they could ride on it.

The high adoption rate of mobile technology created an urgent need for digital financial solutions. Fintechs filled this gap quickly.

It took years of investment, policy shifts, and infrastructure expansion to create an environment where fintechs could thrive. And unlike industries that require heavy physical infrastructure (think logistics or manufacturing), fintech solutions can scale rapidly across different markets with relatively low marginal costs. Fintech’s dominance happened because the groundwork was laid long before the first startup came along.

If we want unicorns in other industries—healthcare, agriculture, logistics, e-commerce,manufacturing—we need commensurate long-term investments in those sectors. That means building infrastructure, injecting patient capital, and accepting years of iteration before we see breakout success.

But my more critical submission to that gentleman, and the audience that listened in on that conversation was this, "Let’s not forget that a unicorn is simply a privately held startup valued at over $1 billion. This doesn’t always mean profitability or sustainability—it’s just a valuation metric. We should focus on the more lofty factors, not the shiny elements."

Industry Events: Still the King of Networking

For all the talk about execution gaps and sector bias, one thing remains undeniable—industry events are still the best place for networking.

No amount of cold emails or LinkedIn messages can replace the value of face-to-face interactions. It’s at events that deals are born, partnerships form, and unexpected opportunities arise.

It was good to reconnect with Nigeria's comedy doyen, Atunyota "Ali Baba" Akpobome whom I hadn’t seen in-person in recent times, at the #Omniversesummit2025, despite crossing paths virtually. I also had a great conversation with Gaise Baba , the gospel music superstar, about the business side of the arts. It was such fun to connect with Chuma Aroh too—he's building brilliance with Applai while putting in a great shift with the team at TVCLabs . These are the rare kinds of interactions that these events create.

Beyond personal networking, these gatherings serve another critical purpose: they allow ecosystem leaders to engage directly with the communities they serve. As someone who leads a major organization in the startup industry, there’s nothing more valuable than getting real-time feedback, insights, and connections with the people we work to support—investors, founders, and ecosystem players.

Yes, some events feel repetitive, and yes, there’s a lot of talk with not enough action. But if you’re a founder looking to grow your business, raise capital, or build the right relationships, showing up at these gatherings is still one of the smartest moves you can make.

What Really Moves the Needle?

Fintechs may be leading the race, but it is a marathon. Other industries will need the same long-term investment, proactive policy frameworks and improved investor appetite to catch up. Networking remains one of the most powerful tools for growth, if we only follow through on the connections we make.

And as for advice? It’s everywhere. But the founders and investors who truly stand out are the ones who can filter the noise, take the hard lessons, and turn words into action.

Because at the end of the day, what really moves the needle is execution.