#SMEFest2016: SMEs need to leverage on disruptive technologies to scale up

No photo availableCIO Africa authorByStaff Writer
2 min read

This was said during the SME Fest 2016, an event that seeks to provide SMEs with a unique opportunity to…

Technology has increasingly become a disruptor in the world, accelerating
Technology has increasingly become a disruptor in the world, accelerating growth of emerging economies. Meanwhile, in the technology industry itself, enterprises are making plans for the next economy rising from today’s disruptive and unprecedented change.

This was said during the SME Fest 2016, an event that seeks to provide SMEs with a unique opportunity to learn global best practices for business network and develop relationships with prospective partners further enhancing their growth potential.

On how to monetize technology in the business Dr. Derek Palmer, an experienced IP and Innovation practitioner, said that for any SME to leverage on technology and reap the utmost results they need to be driven by three key things an offering that is compelling, an offering that can work and a well protected brand.

“SMEs should focus more on offerings that are compelling and those that can work and they need to ensure that they are IP Protected. Investors look at IP protected products because they know incase of an infringement by the third party, the business can at least contest in the court of law,” he said.

Speaking on the same Ms Silvana Wanjiru, an advocate of the High Court of Kenya and a partner of SW Advocates called on start-ups to protect their IP and register their trademark as early as when they think they need to kick off their businesses.

“You need to budget on protecting your business as early as you budget for other things while starting your business,” she said “Most businesses fail because they lack to take their protection rights seriously.”

Their were also calls for start-ups to leverage more on disruptive technologies which include, social, cloud, mobility to scale up.

“ Technology is the greatest equalizer and start-ups need to invest in technology so that they can achieve more in their competitive markets. Start-ups must also think of ideas that can be replicated not only locally but globally as well,” said Ms.Wanjiru.

SME Fest 2016 is a three day event will be held in on 7th – 9th April 2016 at KICC bringing together various experts entrepreneurs, government representatives and regulators providing an annual platform for thought leaders to meet, network for the growth of the sector.

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