In a major boost to Nigeria’s growing tech ecosystem, the Federal Government has teamed up with Google to launch a ₦100 million fund aimed at empowering 10 Nigerian startups developing Artificial Intelligence (AI)-driven products. This fund, unveiled on September 10, 2024, by Dr. Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, is part of a broader initiative to drive AI innovation in Nigeria.
The fund is expected to accelerate the development of AI-based technologies and position Nigeria at the forefront of AI advancements in Africa.
Coordinated by the National Centre for Artificial Intelligence and Robotics (NCAIR)
The National Centre for Artificial Intelligence and Robotics (NCAIR) will oversee the AI Fund, which is aligned with President Bola Ahmed Tinubu’s administration’s broader strategy to foster technological advancement. The government aims to play a significant role in shaping AI policies that benefit both public and private sectors.
Dr. Tijani emphasized the public sector’s role in fostering AI adoption, saying:
“If we get it right in the public sector, it will permeate the private sector. With time, the adoption and deployment of AI will not only transform our national lives but will shape the future of things in our country.”
In addition, the Nigerian government has developed a National Artificial Intelligence Strategy to guide future AI policies and support further development of the sector.
Google’s Role and Commitment to Africa’s Digital Transformation
Google’s participation reinforces its ongoing commitment to Africa’s digital transformation. The tech giant has been supporting AI innovations across the continent, and this initiative builds on its Google for Startups Accelerator Africa program, which focuses on AI-driven solutions. As part of the fund, Google will provide access to AI tools, mentorship, and a global network of experts to help startups scale their products.
SEE ALSO: Field Healthtech Launches Route-to-Market Service to Combat Maternal Mortality in Africa
According to Olumide Balogun, Google’s West Africa Director, this partnership is part of the company’s larger strategy to expand digital capabilities in Nigeria and across Africa.
Selection Process and Eligibility Criteria
- Funding: Each selected startup will receive ₦10 million.
- Support: Startups will gain access to Google’s AI tools, mentorship, and a global network of experts.
- Eligibility: Applicants must be Nigerian-based, have at least one Nigerian founder, and focus on AI-driven solutions with potential for scaling beyond the local market. The startups must have demonstrated market traction for their product.
- Application Window: Applications will run for two weeks, from September 10 to September 25, 2024.
- Announcement of Recipients: Successful startups will be announced in October 2024 following a rigorous selection process.
Conclusion
This AI Fund marks a critical step toward fostering AI-driven innovation in Nigeria, with the potential to transform multiple sectors of the economy. Through collaboration between the Nigerian government and Google, the initiative promises to provide Nigerian startups with the financial backing, tools, and expertise needed to scale their innovations and compete on a global stage.
View Comments (1)
₦100 million fund sounds a bit small for AI projects, but at least they're doing something.
Well done to them.