The Federal Government of Nigeria, through the National Centre for Artificial Intelligence and Robotics (NCAIR), has opened applications for a N100 million AI Fund. Supported by Google, this initiative is designed to empower Nigerian startups leveraging Artificial Intelligence (AI) to create innovative solutions that address local challenges. The fund is part of the government’s broader efforts, led by the Ministry of Communications, Innovation & Digital Economy, to boost AI-driven development and improve economic growth within Nigeria’s burgeoning digital economy. Interested startups can apply through the NCAIR official website.

Up to N10 Million in Funding for Startups

According to a statement released by NCAIR, the AI Fund will provide selected startups with up to N10 million in funding. In addition to financial support, startups will gain access to Google’s AI tools, mentorship, and a global network to help them scale their solutions. Applications opened on September 10, 2024, and will close on September 25, 2024.

Eligibility Criteria

To qualify for the fund, startups must meet the following criteria:

• Be headquartered in Nigeria.
• Have at least one Nigerian founder.
• Be focused on building AI-driven technology solutions with the potential to scale beyond Nigeria.
• Have a live product in the market, showing early signs of product-market fit and traction.

Government’s Vision for AI-Driven Development

Dr. ‘Bosun Tijani, the Minister of Communications, Innovation and Digital Economy, emphasized the strategic importance of the 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.”

Partnership with Google

The partnership with Google reflects a shared commitment to advancing Nigeria’s tech ecosystem. Dr. Bunmi Ajala, the National Coordinator of NCAIR, noted:

“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.”

Similarly, Olumide Balogun, West Africa Director at Google, highlighted Google’s dedication 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.”

This initiative follows Google’s recent support for Nigerian startups through its Google for Startups Accelerator Africa program, which also emphasizes AI-driven solutions.

The Bigger Picture

The AI Fund is part of Nigeria’s ongoing commitment to the development of Artificial Intelligence. Earlier this year, the Ministry hosted an Artificial Intelligence Strategy Workshop and subsequently released the National AI Intelligence Strategy, outlining the country’s roadmap for AI integration across various sectors.

With the AI Fund, Nigerian startups have a unique opportunity to access critical resources, mentorship, and global networks, helping them scale their innovations to a broader market. This initiative marks a significant step forward in positioning Nigeria as a leader in AI development across Africa.

For more information or to apply, visit the NCAIR official website.