Apply: FG Launches N100 Million AI Fund for Nigerian Startups
The Federal Government of Nigeria, through the National Centre for Artificial Intelligence and Robotics (NCAIR), has launched a N100 million AI Fund to support local startups leveraging artificial intelligence (AI) for innovative solutions.
The initiative, backed by tech giant Google, aims to foster development, innovation, and well-being in Nigeria by encouraging AI-driven technological advancements.The AI Fund is open to Nigerian-based startups focused on AI solutions with the potential for significant impact.
Selected startups will receive up to N10 million in funding, along with access to Google’s extensive resources, including AI tools, mentorship, and a global network to help them scale their innovations.
To qualify, startups must be headquartered in Nigeria, have at least one Nigerian founder, focus on AI-driven solutions with scalability beyond the local market, and demonstrate early traction and product-market fit with a live product. Applications opened on Tuesday, September 10, 2024, and will close on September 25, 2024. Qualified and interested startups can apply here.
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Dr. Bosun Tijani, Minister of Communications, Innovation and Digital Economy, emphasized the significance of the AI Fund: “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.”
Dr. Bunmi Ajala, National Coordinator of NCAIR, highlighted the partnership with Google as a reflection of their 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,” Ajala stated.
Olumide Balogun, Google’s West Africa Director, reiterated the company’s commitment to enhancing digital capabilities across Africa: “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.”
Google’s involvement in the AI Fund aligns with its broader AI commitments across Africa, reflecting its dedication to fostering technological growth and innovation on the continent.
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