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The Nigerian government, in collaboration with Google, has launched a ₦100 million fund aimed at supporting 10 local startups that incorporate artificial intelligence (AI) in their products. This initiative, spearheaded by the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, is set to drive AI innovation and strengthen the country’s growing tech ecosystem.

The fund, announced on Tuesday, September 10, 2024, will be managed by the National Centre for Artificial Intelligence and Robotics (NCAIR). It is part of a broader government strategy, under President Bola Ahmed Tinubu’s administration, to keep Nigeria at the cutting edge of AI development. Dr. Tijani emphasized that the government’s involvement is crucial to shaping policies that will benefit both the public and private sectors.

“If we get it right in the public sector, it will permeate the private sector. With time, the adoption and deployment of AI will not only transform our national lives but will shape the future of things in our country,” Tijani stated.

In addition to launching the fund, the government has developed a National Artificial Intelligence Strategy, which will guide future AI policies and initiatives.

Google’s participation underscores its commitment to Africa’s digital growth and aligns with its broader AI efforts across the continent. The tech giant recently announced the latest group of startups selected for its Google for Startups Accelerator Africa program, with five of the 10 companies coming from Nigeria.

Google’s West Africa Director, Olumide Balogun, highlighted that the company’s involvement in the AI Fund is part of a wider plan to bolster Nigeria’s digital economy and enhance AI capabilities across Africa.

Each of the 10 selected startups will receive ₦10 million in funding, along with access to Google’s AI tools, mentorship, and a network of global experts to help scale their innovations.

Eligible startups must be based in Nigeria, have at least one Nigerian founder, and focus on AI-driven solutions with the potential to expand beyond local markets. Additionally, applicants must demonstrate that their product has gained market traction.

The application window runs from September 10 to September 25, 2024, with recipients expected to be announced in October after a rigorous selection process.

The AI fund is poised to accelerate technological advancements across Africa, empowering entrepreneurs to tackle real-world challenges using AI. Through essential financial and strategic support, this collaboration establishes a new standard for digital innovation on the continent, giving African startups a significant opportunity to drive both economic growth and technological progress.