By Alayande Stephen T.
Good news for Nigeria Startups as the National Centre for Artificial Intelligence and Robotics (NCAIR), with support from Google, has announced the launch of the Artificial Intelligence (AI) Fund of a whooping ₦100 million to catalyse innovation in the country.
This initiative is aimed at supporting Nigerian startups that are leveraging Artificial Intelligence (AI) to develop innovative solutions.
This follows a series of strategic programs by the Ministry of Communications, Innovation & Digital Economy, aimed at harnessing the potential of AI to drive development, innovation, and well-being in Nigeria.
It would be recalled that earlier this year, the Ministry held the Artificial Intelligence Strategy Workshop in April, bringing together leading stakeholders to share perspectives on the future of AI in Nigeria.
Following this was last month’s release of the National AI Intelligence Strategy, which outlined the country’s roadmap for integrating AI into various sectors to enhance growth and societal well-being. The AI Fund is a significant step in actualizing these plans, providing Nigerian startups with the necessary resources to innovate and scale their AI solutions.
Minister of of Communications, Innovation and Digital Economy
Dr. ‘Bosun Tijani, Minister of Communications, Innovation and Digital Economy, laid emphasis on the importance of this laudable initiative: “The AI Fund is a critical step in nurturing homegrown innovation that addresses local challenges and contributes to economic growth. By supporting our startups, we are not only investing in their success but also in the future of Nigeria’s digital economy”, he alluded.
Importantly, we must all know that this AI Fund is open to Nigerian-based startups that are focused on AI-driven technology solutions with the potential for significant impact. Hence, selected startups will receive up to ₦10 million in funding, along with access to Google’s extensive resources, including AI tools, mentorship, and a global network designed to help them scale their innovations. This is such a great news for those in the Tech space in Nigeria.
National Coordinator, NCAIR
Dr. Bunmi Ajala, National Coordinator of NCAIR, in his own remarks spoke to the importance of the collaborative effort: “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 program.”
Google’s involvement in the AI Fund aligns with its broader AI commitments across Africa. Recently, Google announced a new cohort for its Google for Startups Accelerator Africa program, focusing on building Africa-centric products and services using AI in transformative ways. The cohort includes five Nigerian startups, further demonstrating Google’s dedication to nurturing AI innovation on the continent.
In the words of Olumide Balogun, West Africa Director, Google, “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.”, this is Google’s commitment to Africa as a continent.
(1) Who Can Apply: The AI Fund is open to startups that:
(i) Are headquartered in Nigeria.
(ii) Have at least one Nigerian founder.
(iii) Focus on building AI-driven solutions with the potential to scale beyond the local market.
(iv) Have a live product in the market, demonstrating early traction and product-market fit.
(2) Benefits of the AI Fund: Selected startups will receive:
(a) Funding: Up to ₦10 million to accelerate their growth.
(b) Technical Expertise: Access to Google’s AI tools and mentorship from Google engineers.
(c) Global Network: Opportunities for international exposure and connections to Google’s vast network.
(3) Application Details:
(i) Applications Open: September 10, 2024
(ii) Applications Close: September 25, 2024
(iii) Application Link: https://ncair.nitda.gov.ng/aifund/
(iv) The selection process will be rigorous, with a focus on identifying startups that not only have innovative AI solutions but also the potential for significant impact and scalability.
(v) Successful applicants will be announced in October 2024, with the program officially kicking off shortly thereafter.
Once again, from the desk of SPLASH9JA, we congratulate the Ministry and NCAIR on this strategic partnership with Google to provide the sum of N100M AI Fund for the brightest, ambitious and the most driven Nigerian startups to solve critical societal challenges, create unique opportunity to gain access to global resources, world class mentorship, have access to network that can accelerate growth & amplify impact, broaden innovation and enhance the whole Tech ecosystem in the country.
