The Nigerian Federal Government, through the National Centre for Artificial Intelligence and Robotics (NCAIR), has taken a significant step forward by launching a N100 million AI Fund. This initiative, in collaboration with Google, is set to empower local startups working with Artificial Intelligence (AI) to develop innovative solutions across various sectors.
The AI Fund will provide selected startups with up to N10 million in funding each, alongside access to Google’s AI tools, mentorship, and global network. This move is aimed at driving AI-powered innovation and boosting the digital economy in Nigeria.
Investing in the Future of Nigeria
Speaking at the launch, the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, emphasised the importance of nurturing homegrown talent. He 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 initiative is open to Nigerian-based startups focusing on AI-driven technology solutions that can create a significant impact in various industries. Applications are now being accepted, with recipients set to be announced in October.
A Collaborative Effort for Technological Advancement
Dr. Bunmi Ajala, the National Coordinator of NCAIR, highlighted the importance of the collaboration with Google, 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 program.”
Google’s commitment to the initiative was further reinforced by Olumide Balogun, West Africa Director at Google, who said, “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.”
How to Apply
The AI Fund is open to startups that meet the following criteria:
– Must have their headquarters in Nigeria.
– Must have at least one Nigerian founder.
– Focus on developing scalable AI-driven solutions.
– Demonstrate early traction and market fit with a live product.
Interested startups can apply through the designated link. A rigorous selection process will be used to identify promising startups with the potential for impact and scalability. The successful applicants will be announced in October 2024, with the program officially starting shortly after.
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