The Nigerian government has taken a significant step towards fostering innovation and economic growth by launching a N100 million AI Fund. Spearheaded by the National Centre for Artificial Intelligence and Robotics (NCAIR) with the support of tech giant Google, this initiative aims to empower Nigerian startups leveraging artificial intelligence (AI) to develop groundbreaking solutions.
Moreover, the AI Fund is part of a broader strategy by the Ministry of Communications, Innovation & Digital Economy to harness the potential of AI to drive development and innovation in Nigeria. The fund will provide selected startups with up to N10 million in funding, along with access to Google’s extensive resources, including AI tools, mentorship, and a global network designed to help them scale their innovations.
However, Nigerian startups seeking AI Fund eligibility must be locally based, have a Nigerian founder, focus on AI solutions with global impact, and demonstrate market success.
The applications for the AI Fund opened on September 10, 2024, and will close on September 25, 2024. Qualified and interested startups can apply [here].
Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, emphasized the importance of this initiative, stating, “The AI Fund is a critical step in nurturing homegrown innovation that addresses local challenges and contributes to economic growth.”
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Furthermore, 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 significantly designed to empower our entrepreneurs with the resources they need to create impactful AI solutions,” she said.
Additionally, Olumide Balogun, West Africa Director at Google, reiterated Google’s commitment to supporting AI innovation in Africa. “Google’s support for the AI Fund is part of our broader mission to enhance digital capabilities across Africa. Nigerian startups can count on us to provide the tools, mentorship, and resources they need to innovate and thrive globally.“
This initiative aligns with Google’s broader AI commitments in Africa. Recently, Google announced a new cohort for its Google for Startups Accelerator Africa program, focusing on building Africa-centric products and services using AI in transformative ways. The cohort includes five Nigerian startups, further demonstrating Google’s dedication to nurturing AI innovation on the continent.
