Toro Orero quietly walked away as CEO of Zone Tech Park, a new venture builder for start-ups in Nigeria which was officially opened for business in Lagos last month to turn great ideas into products and services quickly, efficiently – and profitably.
Orero tweeted,”FYI: Last week I stepped down as CEO of ZoneTechPark. On SpeedUPAfrica acquisition I joined the Board of Directors and became CEO-but it became clearer as I worked there that I and the Board were fundamentally misaligned on the direction of the company. Yeah I know this happened fast (spending 2.5 months there…) but this decision although unfortunate was necessary. I had to stay true to myself and my beliefs. I’ll continue with the cool stuff we’re doing at DDF plus more time to focus on a new (stealth) startup I have been working on.”
Orero is the Managing Partner, DDF – a Silicon Valley Venture Capital fund (backed by Tim Draper, Founder, DFJ) investing in Africa’s most promising early stage technology startups such as SweepSouth, Paystack, Tizeti, Spreebie, VugaPay, Swiftly, TuseApp, Zagace, SliideAirtime and Startup Studio.
…so this happened 🙂 pic.twitter.com/s6RhRzodOW
— Toro Orero (@ToroOrero) August 29, 2018
Zone Tech Park had appointed Toro Orero as CEO of Zone Tech Park to bring his vast experience with startups both as a managing partner at Silicon Valley VC Fund DDF and the founder of The African Startup Institute and SpeedUPAfrica. But seems their visions were not as aligned as they thought.
Zone Tech Park Bolaji Olagunju had hoped Zone Tech will change the status quo in the African startup scene and help individuals and their businesses to realise their full potential through education, venture building and strategic enterprise support. Olagunju is a serial entrepreneur and Founder and CEO of The Workforce Group, Nigeria’s leading HR company and had invested $6.5 million into Zone Tech Park.
Though nothing has been said about Orero’s departure and or his replacement, Zone Tech Park is still open for startups and entrepreneurs to give them access to the tech hub’s multitude of services and advisers, a network of more than 400 corporations, market for their products as well as helping them to scale faster and raise more funding for growth. Prior to its official launch, Zone Tech ran a small pilot program and has built Peerless, a learning management system that already has 10,000+ users and revenues of 100,000 USD and Outwork, a staff on-demand solution with 7,000+ users.