The National Information Technology Development Agency (NITDA) has registered 12,948 Nigerian startups on the dedicated startup portal in line with the Nigeria Startup Act, the government technology institution has said.
NITDA, which sees the number of registrations as a significant development aimed at fostering the growth of Nigeria’s startup ecosystem.
This initiative aligns with the objectives outlined in the Nigeria Startup Act, which was signed into law in October 2022 by former President Muhammadu Buhari.
Through the startup portal, NITDA has also registered 912 venture capitalists, 1,735 angel investors, and 925 accelerators, incubators, and hubs.
The Nigeria Startup Act: The journey so far
The registration process, initiated in November 2023, is the first step in implementing the Nigeria Startup Act, which seeks to create an enabling environment for innovation and entrepreneurship in the country.
Through the startup portal, NITDA has also registered 912 venture capitalists, 1,735 angel investors, and 925 accelerators, incubators, and hubs.
According to Dr. Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, the registration of startups and other ecosystem actors is crucial for facilitating dialogue and consensus-building within the Nigerian startup community. The portal serves as a platform for stakeholders to engage in discussions and collaborate on initiatives that drive innovation and economic growth.
Tijani said that the registration of startups on the portal makes them eligible for statutory incentives, resources, and opportunities, thereby enhancing their prospects for success in the competitive startup landscape. Additionally, the portal enables the government to establish startup consultative forums to select representatives for the National Council for Digital Innovation and Entrepreneurship.
“I am delighted that the Nigeria Startup Portal, startup.gov.ng, which will label startups and register other ecosystem actors, has now been deployed. The platform will also facilitate a consultative forum where issues affecting startups can be discussed and properly defined for action by government and other stakeholders,” Dr. Tijani stated. “We will be prioritizing the objectives of the Startup Act to improve the operating environment, prospects, and opportunities for our Startup Ecosystem, and I’m encouraging members of the ecosystem to visit the platform and register,” the Minister said.
The deployment of the Startup Support and Engagement Portal, Tijani noted, represents a significant milestone in Nigeria’s journey towards becoming a global hub for innovation and entrepreneurship. As the government continues to prioritize the objectives outlined in the Nigeria Startup Act, stakeholders are optimistic about the positive impact it will have on the country’s economic development and technological advancement.
The registration portal remains open, and NITDA encourages all Nigerian startups, venture capitalists, angel investors, accelerators, incubators, and hubs to register on the platform to access the benefits and opportunities provided under the Nigeria Startup Act.
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