Getting into this college was all you ever dreamed of, and you worked your hardest to make it. If you have received one of these letters it is not the end of the world, even though it might feel like it. It's time for the birth of pacesetting startup ideas that will affect lives positively, actively engage youths, solve social problems, open doors of employment and attract investors to Oyo state.A letter from your favorite college comes in the mail, you cross your fingers hoping that the letter is congratulating you for getting in, but when you open it up it states, “We regret to inform you…” You didn’t get in. We need our own likes of "seedstars" and co-creation Oyohub in state. Oyo state government needs to set up state runned Tech and Social start-up hubs that will be saddled with the responsibility of incubation, business modelling, funding and partnership, co-working space, training, networking etc. This shows the role startups can play with ending unemployment in the state if given the adequate attention. According to the National Bureau of Statistics, Oyo state has a record of Micro-enterprises of about 1,864,954 with employees of about 3,502,542. Thousands of jobs have been created with the spread of startups across the country, as each startup employing between five and 10 workers engaged in various aspects of works and training. So GSM, startups can attract foreign investors to the state if given due attention. In the first half of 2018, startups have managed to attract over $82 million in grants and investments from within and beyond the country. The report further reveals that a higher percentage of that figure is from foreign investors, while grants make up almost 64% of the total number of deals (stats from Techpoint Africa). Just In the Q1 of 2018, a total of $9,241,196 was raised by startups in one stage of funding or the other. When I heard about GSM's attempt to woo foreign investors into the state with series of meetings, I wondered if the past governments did not also engage the same tactics and failed at it. Evidences abound about the fast rising e-commerce space, Lagos’s billion dollar tech ecosystem, and the impressive performance of fintech startups in the country, but it is quite saddening that Oyo state, is not taking the pace in this space. There is a rapid growth stage in the ongoing evolution of startups in Nigeria. If only the state government can recognise the importance, richness, opportunities and economic advantages of startups. We don't have to blame the big companies that reject our proposals to spend on frivolous events. Many wonderful business ideas and creative contents are still lying on the desk of many entrepreneurs for lack of adequate funds, resources or partnership to pursue the business. Honestly, at this point, I care less what reasons are given for the rejection. The reader/entrepreneur will be elated by the appetite wetting complementary write-up and in full expectation of a life-changing deal at the end,only to be stunned with the phrase “but we regret to inform you”…. The phrase is usually preceded by a long interesting story of how wonderful the idea in your proposal is and how viable the idea is to become something great. Many entrepreneurs who have at one time or the other submitted sponsorship proposals to companies will be familiar with the sentence used for this article’s topic. “But I regret to inform you”… An open letter to GSM
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