Would you like to receive notifications on latest updates of the following headlines?

FG announces N100m AI support fund for Nigerian startups

POSTED ON September 10, 2024 •   Business      BY Benedicta Bassey
Minister of Communication, Innovation and Digital Economy, Bosun Tijani l Credit: @bosuntijani / Source: X

The Federal Government of Nigeria, through the National Centre for Artificial Intelligence and Robotics, NCAIR, has on Tuesday announced the launch of a N100 million AI Fund for Nigerian startups.

The government said the initiative was in collaboration with Google.

The AI fund  aims to support Nigerian startups that are leveraging Artificial Intelligence (AI) to develop innovative solutions across various sectors.

 The federal government targets N100 million funding to select startups, along with access to Google’s AI tools, mentorship, and global network.

Speaking on the funding opportunities for startups, the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, stated, “The AI Fund is a significant step in nurturing homegrown innovation and driving the growth of Nigeria’s digital economy. By supporting our startups, we are investing in the future of our nation.”

The AI Fund is open to Nigerian-based startups that are focused on AI-driven technology solutions with the potential for significant impact. Applications are now being accepted, and the recipients will be announced in October.

National Coordinator of NCAIR, Dr. Bunmi Ajala, highlighted the collaborative effort, saying, “Our partnership with Google is a reflection of our shared vision for Nigeria’s technological advancement.

"The AI Fund is designed to empower our entrepreneurs with the resources they need to create impactful AI solutions. We are excited to see the transformative innovations that will emerge from this programme.”

Also, the West Africa Director, Google, Olumide Balogun, reiterated Google’s commitment, noting, “Google’s support for the AI Fund is part of our broader mission to enhance digital capabilities across Africa. We are committed to providing Nigerian startups with the tools, mentorship, and resources they need to innovate and succeed on a global stage.”

The AI Fund seeks applications from Nigerian startups that meet the following criteria: startups with their headquarters in Nigeria, it must have at least one Nigerian founder, focus on developing scalable AI-driven solutions and possess a live product demonstrating early traction and market fit.

0
READ ALSO
FG urges IMF, World Bank to bolster economic reforms in sub-saharan Africa
BY Abiodun Saheed Omodara April 24, 2025 0

Finance Minister Wale Edun has emphasized the need for increased global assistance to reform economi...

READ ALSO
Nigeria's Economic Reforms Boost Sovereign Credit Profile - IMF
BY Abiodun Saheed Omodara April 23, 2025 0

The Assistant Director for Global Markets at the International Monetary Fund (IMF), Jason Wu,  ...

READ ALSO
Trade Wars Take Center Stage at IM ,World Bank Spring Meetings
BY Abiodun Saheed Omodara April 22, 2025 0

Global finance leaders are convening in Washington this week for the semi-annual meetings of the Int...

READ ALSO
Kano secures $10bn investment for renewable energy, minerals in partnership with Morocco
BY Abiodun Saheed Omodara April 21, 2025 0

KANO, Nigeria (NAN) - The government of Kano state has announced that it will secure more than $10 b...

READ ALSO
RMAFC, ALGON collaborate to strengthen LG financial autonomy
BY Abiodun Saheed Omodara April 18, 2025 0

The Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Dr. Mohammed Bell...

READ ALSO
LCCI, NIXIN call for government support to revitalize Nigeria's paper manufacturing industry
BY Abiodun Saheed Omodara April 18, 2025 0

The Lagos Chamber of Commerce and Industry (LCCI), in collaboration with NIXIN Paper Mill Nigeria Li...

READ ALSO
Cross River to rejuvenate rubber estates after out-of-court settlement with Enghaut industries
BY Abiodun Saheed Omodara April 18, 2025 0

CROSS RIVERS, Nigeria - The Cross River State Government, along with Enghaut Industries, has reached...

READ ALSO
Nigeria, China forge strategic partnership to boost sugar production
BY Abiodun Saheed Omodara April 17, 2025 0

ABUJA, Nigeria - The National Sugar Development Council (NSDC) has entered into a memorandum of unde...

OUR CHANNELS:

2face get appointment as technical adviser to Benue Govt.
BY Abiodun Saheed Omodara April 24, 2025 0

The Governor of Benue State, Hyacinth Alia    has appointed music legend, Innocent Idibia...


Nigeria's Economic Reforms Boost Sovereign Credit Profile - IMF
BY Abiodun Saheed Omodara April 23, 2025 0

The Assistant Director for Global Markets at the International Monetary Fund (IMF), Jason Wu,  ...


Six dead in Okene Accident: Akpoti-Uduaghan Urges Immediate Road Safety Reforms
BY Abiodun Saheed Omodara April 23, 2025 0

KOGI, Nigeria - Following a tragic auto accident in Okene, Kogi State, which resulted in the loss of...


Plateau NBA expresses outrage over violence, urges FG to protect citizens
BY Abiodun Saheed Omodara April 23, 2025 0

PLATEAU, Nigeria - Due to the assaults and homicides occurring in Plateau State by alleged Fulani mi...


LASG reports over 517,000 traffic violations amid enhanced road safety measures
BY Abiodun Saheed Omodara April 24, 2025 0

LAGOS, Nigeria - The Lagos State Government on Tuesday revealed that from May 2024 to March 2025, mo...


Police Inspector Dies by Suicide in Port Harcourt
BY Abiodun Saheed Omodara April 24, 2025 0

RIVERS, Nigeria - A Police Inspector identified as Maxwell Zabu, who was attached to a former Chairm...


Tinubu lauds ECOWAS for regional integration, economic progress at golden jubilee
BY Abiodun Saheed Omodara April 23, 2025 0

President Bola Tinubu has praised the Economic Community of West African States (ECOWAS) for promoti...


LASG celebrates two million passengers on blue rail, highlights transportation achievements
BY Abiodun Saheed Omodara April 23, 2025 0

LAGOS, Nigeria (NAN) - The Lagos State Government has announced that over two million passengers hav...


FG aims to upgrade 2,701 PHC to enhance healthcare access across Nigeria
BY Abiodun Saheed Omodara April 24, 2025 0

The Federal Government, via the National Primary Health Care Development Agency (NPHCDA), has reveal...


Education minister urges colleges to embrace dual degree system
BY Abiodun Saheed Omodara April 24, 2025 0

ABUJA, Nigeria (NAN) - The Minister of Education, Dr. Tunji Alausa, has called on stakeholders in Co...


More Articles

Load more...

Menu