The Nigerian Government in partnership with Google, has unveiled the N100 million AI Fund through the National Centre for Artificial Intelligence and Robotics (NCAIR). This initiative is designed to support Nigerian startups harnessing Artificial Intelligence (AI) to create innovative solutions across diverse sectors.
The fund will offer up to N10 million in financial support to selected startups, in addition to access to Google’s AI tools, mentorship, and a global network. This collaboration aims to drive forward Nigeria’s digital economy by nurturing local innovation and bolstering the country’s technological capabilities.
Minister of Communications, Innovation, and Digital Economy Bosun Tijani emphasized the significance of the AI Fund in fostering homegrown innovation. He noted, “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.”
National Coordinator of NCAIR Bunmi Ajala highlighted the importance of the partnership with Google, stating, “Our collaboration with Google reflects 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.”
Olumide Balogun, West Africa Director at Google, reaffirmed Google’s commitment to enhancing digital capabilities across Africa. He 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.”
The AI Fund is open to Nigerian-based startups that meet the following criteria:
– Headquarters in Nigeria
– At least one Nigerian founder
– Focus on scalable AI-driven solutions
– A live product demonstrating early traction and market fit
Applications are now being accepted, with a rigorous selection process in place to identify startups with innovative AI solutions and significant potential for impact and scalability. Successful applicants will be announced in October 2024, and the program will commence shortly thereafter.
