Nigeria and Google Africa have jointly launched a ₦100 million Artificial Intelligence (AI) fund for Nigerian startups using AI to develop innovative solutions, according to the nation’s Tech Minister.
Dr Bosun Tijani, Minister of Communications Information and Digital Economy who announced the alliance between Nigeria’s National Centre for AI and Robotics (NCAIR) and the African unit of the US tech giant, Google Africa, says that the AI fund will support Nigerian startups that are using AI to develop innovative solutions.
In an effort to bolster the nation’s digital economy, Tijani says, the Federal Ministry of Communications Information and Digital Economy (FMCIDE) and its Ministry Departments and Agencies (MDAs) have consistently shown their commitment to this cause. The most recent demonstration of this commitment is the launch of the ₦100 million fund.
On Tuesday, the Minister Bosun revealed the partnership with Google Africa to provide support to emerging tech companies through the ₦100 million fund. This fund is specifically designed to assist Nigerian startups that are leveraging AI to create groundbreaking solutions.
“Today, we launched the ₦100million Artificial Intelligence Fund in collaboration with @googleafrica aimed at supporting Nigerian startups leveraging AI to build innovative solutions,” according to Tijani.
The event took place at the 2-day conference on Global Inclusivity and AI: Africa, put together by the United States Diplomatic Mission in Nigeria in partnership with the FMCIDE and the National Information Technology Development Agency, (NITDA)
The AI Fund, according to the Minister, will be managed by the NCAIR of Nigeria.
According to Google, the search giant and Nigeria’s NCAIR launched the AI Fund to empower Nigerian AI startups under a programme in which “selected startups will receive funding, access to Google’s AI tools and infrastructure, mentorship, and global networking opportunities, fostering AI-driven innovation in Nigeria.”
With the launch of the Fund, Google says that “we are taking an additional step toward that vision. We are excited to unveil the AI Fund—an initiative aimed at empowering Nigeria’s brightest AI startups to turn their innovative ideas into reality.”
According to the promoters of the AI Fund, “Across the world, the transformative power of Artificial Intelligence (AI) is reshaping economies, redefining industries, and offering new ways to tackle societal challenges. In Nigeria, we are at an exciting moment—where our collective talent, innovation, and forward-thinking could place us among the key players driving Africa’s AI revolution.
“Looking toward the future, it’s clear that the integration of AI into our economic and societal frameworks is no longer optional—it’s vital. AI is already here, and Nigeria is ready to harness this technology to address its challenges while creating opportunities for growth, inclusion, and global competitiveness.”
The ₦100 million fund, developed in collaboration between NCAIR and Google, “represents a commitment to nurturing the next generation of AI-driven solutions in Nigeria. With this fund, we are not only investing in technology but in the people who will drive that technology forward,” according to Google.
Under the NCAIRR-Google alliance, they say that Nigeria AI Fund offers Nigerian startups access to the essential resources, mentorship, and networks they need to elevate their innovations.
Startups selected for this program will benefit from:
- Funding: Up to ₦10Million to accelerate their growth.
- Access to AI Tools: Access to Google’s world-class AI tools and infrastructure to help scale solutions.
- Mentorship: Opportunities to work closely with Google’s AI experts, gaining insights and guidance.
- Global Networks: The chance to connect with a global network of innovators and partners.
- Sectoral Impact: The ability to create AI-driven solutions across sectors such as healthcare, agriculture, education, and governance, contributing to real-world impact.
According to Tijani, the strategic move is aimed at harnessing future technologies to foster local innovation, address domestic challenges, drive economic growth, and make significant contributions to the global technology landscape.
The launch of the AI fund, Tijani says, signifies a commitment to providing support to the nation’s startups, adding that it shows that “we are not only investing in their success, but also in the future of Nigeria’s digital economy.”
According to the statement, applications are open from September 10 to September 25, 2024, and eligible startups are encouraged to apply for the fund through the provided link: ncair.nitda.gov.ng/aifund/.
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