The Federal Government, under President Bola Ahmed Tinubu, has launched a N100 million AI Fund to support Nigerian startups leveraging Artificial Intelligence (AI) to develop innovative solutions across various sectors. The initiative is being implemented through the National Centre for Artificial Intelligence and Robotics (NCAIR) in partnership with Google.
The fund will provide selected startups with up to N10 million in financial support, along with access to Google’s AI tools, mentorship, and global network. This announcement was made on Tuesday, September 10, 2024, by Bosun Tijani, the Minister of Communication, Innovation, and Digital Economy.
Tijani emphasized the significance of the initiative, stating, “The AI Fund is a major step in fostering 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 focusing on AI-driven technology solutions with the potential for significant impact. Applications are now being accepted, with recipients set to be announced in October 2024.
Dr. Bunmi Ajala, National Coordinator of NCAIR, underscored the importance of the collaboration: “Our partnership with Google reflects our shared vision for advancing Nigeria’s technology sector. The AI Fund will equip our entrepreneurs with the resources needed to create impactful AI solutions, and we look forward to seeing the transformative innovations that will arise from this program.”
Olumide Balogun, Google’s West Africa Director, reiterated Google’s commitment to the initiative: “Our support for the AI Fund is part of Google’s broader mission to enhance digital capabilities across Africa. We are dedicated to empowering Nigerian startups with the tools, mentorship, and resources to innovate and succeed globally.”
Eligible startups must meet the following criteria:
– Headquartered in Nigeria
– Have at least one Nigerian founder
– Focus on scalable AI-driven solutions
– Have a live product with early market traction
Applications are open from September 10 to September 25, 2024, and can be submitted via the NCAIR website. Selected startups will receive funding, technical support from Google engineers, and global networking opportunities. Recipients will be announced in October 2024.
Click link to apply
https://ncair.nitda.gov.ng/aifund/
