The National Centre for Artificial Intelligence and Robotics (NCAIR), in partnership with Google, has announced the launch of the AI Fund, a ₦100 million initiative aimed at supporting Nigerian startups developing innovative AI-driven solutions.
The AI Fund is part of the Nigerian government’s broader efforts to harness the potential of AI to drive development and innovation. Earlier this year, the Ministry of Communications, Innovation & Digital Economy released the National AI Intelligence Strategy, outlining the country’s roadmap for integrating AI into various sectors.
Selected startups will receive funding, mentorship, and access to Google’s AI tools and resources. The goal is to empower Nigerian entrepreneurs to create impactful AI solutions that address local challenges and contribute to economic growth.
Dr. ‘Bosun Tijani, Minister of Communications, Innovation and Digital Economy, emphasized the importance of this initiative, stating, “The AI Fund is a critical step in nurturing homegrown innovation and driving Nigeria’s digital economy forward.”
Dr. Bunmi Ajala, National Coordinator of NCAIR, highlighted the collaborative nature of the partnership with Google, saying, “Together, we are providing our entrepreneurs with the resources they need to create transformative AI solutions.”
Olumide Balogun, West Africa Director, Google, reiterated Google’s commitment to supporting AI innovation in Africa. “We are excited to empower Nigerian startups and help them scale their AI-driven solutions,” he said.
The AI Fund aligns with Google’s broader efforts to promote AI development in Africa. The company recently announced a new cohort for its Google for Startups Accelerator Africa program, focusing on AI-centric products and services. This demonstrates Google’s continued dedication to nurturing AI innovation on the continent.
The AI Fund is open to startups that are headquartered in Nigeria, have one Nigerian founder, and focus on building AI-driven solutions with the potential to scale beyond the local market or have a live product in the market, demonstrating early traction and product-market fit.
Application open September 10 and closes September 25, 2024