The Federal Government of Nigeria, in partnership with Google, has launched a ₦100 million fund aimed at empowering 10 Nigerian startups that are leveraging Artificial Intelligence (AI) in their technology products. The initiative, announced by Dr. Bosun Tijani, Minister of Communications, Innovation, and Digital Economy on September 10, 2024, seeks to accelerate the country’s rapidly growing tech ecosystem by identifying and supporting AI-driven startups with high-impact potential.
The AI Fund will be coordinated by the National Centre for Artificial Intelligence and Robotics (NCAIR) and is part of President Bola Ahmed Tinubu’s broader agenda to position Nigeria as a leader in AI innovation. Dr. Tijani highlighted the government’s commitment to active public sector involvement in AI development, emphasizing that effective implementation at the national level will influence both private and public sectors.
“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,” Dr. Tijani remarked.
The Nigerian government is also preparing a National Artificial Intelligence Strategy document to shape future AI policy and guide its efforts in promoting AI-driven innovations.
Google’s involvement in the initiative aligns with its ongoing commitment to Africa’s digital transformation and reflects its broader AI objectives across the continent. Google’s West Africa Director, Olumide Balogun, noted that the company’s participation in the AI Fund is part of its strategy to enhance digital capabilities in Nigeria and Africa.
As part of the initiative, 10 selected startups will each receive ₦10 million in funding, along with access to Google’s AI tools, mentorship, and a global network of experts to help scale their innovations. Eligible startups must be based in Nigeria, have at least one Nigerian founder, and focus on AI solutions with the potential to scale beyond the local market. They must also demonstrate market traction with their products.
Applications for the AI Fund opened on September 10, 2024, and will close on September 25, 2024. The selected startups will be announced in October following a rigorous selection process.
Stay well-informed and be the very first to receive all the most recent updates directly in your email! Tap here to join now for free!
