The Nigerian Federal Government, in partnership with Google through the National Centre for Artificial Intelligence and Robotics (NCAIR), has unveiled a N100 million AI Fund aimed at supporting local startups engaged in Artificial Intelligence (AI) innovation.
This initiative will provide selected startups with up to N10 million in funding, alongside access to Google’s AI resources, mentorship, and its extensive global network.
Dr. Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, commented, “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 AI Fund is open to startups based in Nigeria that are working on AI technologies with high-impact potential. Applications are now being accepted, with recipients to be announced in October.
Dr. Bunmi Ajala, National Coordinator of NCAIR, emphasized the significance of the collaboration: “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.”
Olumide Balogun, Google’s West Africa Director, affirmed the company’s support: “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.”
Eligible startups must be headquartered in Nigeria, have at least one Nigerian founder, focus on scalable AI-driven solutions, and demonstrate early traction with a live product.
Startups interested in the fund can apply via the provided link, and a thorough selection process will identify those with the most promising and scalable AI innovations. Successful candidates will be announced in October 2024, with the program set to commence soon after.
