Nigeria’s National Centre for Artificial Intelligence and Robotics (NCAIR) has launched a transformative $100 million fund to support start-ups developing artificial intelligence (AI) solutions within the country. Announced in partnership with Google at the U.S.-Nigeria Global Inclusivity and AI: Africa conference, this initiative represents a significant investment in Nigeria’s digital economy.
Bosun Tijani, the Minister of Communication Innovation and Digital Economy, emphasized the fund’s role in fostering local innovation and addressing Nigeria’s unique challenges. By backing home-grown start-ups, the initiative aims to drive economic growth and technological advancement in the country.
Google’s West Africa Director, Olumide Balogun, highlighted the company’s broader commitment to enhancing digital skills across Africa. The support for the AI Fund aligns with Google’s efforts to bolster technological expertise and innovation on the continent.
Dr. Bunmi Ajala, the National Coordinator of NCAIR, affirmed that the collaboration with Google underscores a shared vision for Nigeria’s technological progress. The fund aims to provide entrepreneurs with essential resources to develop impactful AI solutions that can contribute to both local and global technological landscapes.
Selected start-ups will benefit from up to $6,000 (N10 million) in funding, along with access to Google’s advanced AI technologies, mentorship, and a global network designed to accelerate their growth and success. The application period for the fund began on September 10, 2024, and will close on September 25, 2024.
This initiative marks a crucial step in Nigeria’s journey towards becoming a leading hub for AI innovation, reflecting a strong commitment to nurturing talent and advancing digital solutions in Africa.
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