Selected startups will receive funding, access to Google’s AI tools and infrastructure, mentorship, and global networking opportunities, fostering AI-driven innovation in Nigeria
THISDAY
Last week, the government of Nigeria, in collaboration with Google Africa, began what could turn around the fortunes of startups with the launch of N100 m fund in Lagos.
The fund, to be overseen by the National Centre for Artificial Intelligence and Robotics (NCAIR), is believed to align with President Bola Ahmed Tinubu’s vision to position Nigeria as a leader in Artificial Intelligence (AI) development.
Communications, Innovation, and Digital Economy Minister, Bosun Tijani tweeted on Tuesday, September 10, that “today we launched the N100 million Artificial Intelligence Fund in collaboration with @googleafrica aimed at supporting Nigerian startups leveraging AI to build innovative solutions.”
Expected to be managed by NCAIR, the funds will enable startups to deliver cutting edge technologies for developing AI for economic growth.
Although this initiative looks tempting for the startups, some stakeholders see it as a drop in the ocean.
Despite the misgivings of some stakeholders, the government thinks the AI fund is expected to spur technological progress across Africa, empowering entrepreneurs to solve real-world problems through AI.
By providing critical financial and strategic backing, the collaboration sets a new benchmark for digital innovation across the continent, offering African startups a chance to drive economic growth and technological development.
Google’s involvement highlights its commitment to Africa’s digital future according to Olumide Balogun, Google’s West Africa Director, noting that the partnership aligns with Google’s focus on developing Africa-centric solutions and promoting digital innovation on the continent.
“In addition to financial support, the selected startups will gain access to Google’s AI tools, mentorship, and a global network of experts and investors, helping them scale their businesses and expand beyond Nigeria.
“Eligible startups must be based in Nigeria, have at least one Nigerian founder, and focus on AI-driven solutions with strong market potential. Applications will be open from September 10 to September 25, 2024, with winners announced in October.
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