Last week, the Nigerian government, in collaboration with Google Africa, launched a ₦100 million fund in Lagos, aimed at supporting Nigerian startups leveraging Artificial Intelligence (AI) to develop innovative solutions. The fund, which will be managed by the National Centre for Artificial Intelligence and Robotics (NCAIR), aligns with President Bola Ahmed Tinubu’s vision to position Nigeria as a leader in AI development.
In a tweet on Tuesday, September 10, 2024, Minister of Communications, Innovation, and Digital Economy, Bosun Tijani announced, “Today we launched the ₦100 million Artificial Intelligence Fund in collaboration with @googleafrica, aimed at supporting Nigerian startups leveraging AI to build innovative solutions.” This initiative is expected to empower startups to deliver cutting-edge AI technologies that contribute to economic growth.
While the initiative has garnered excitement among startups, some stakeholders see it as insufficient in the broader context of Nigeria’s tech ecosystem. Despite these concerns, the government believes the AI fund will spur technological progress across Africa, empowering entrepreneurs to solve real-world problems through AI. By providing critical financial and strategic support, the collaboration sets a new benchmark for digital innovation on the continent, offering African startups a chance to drive economic growth and technological advancement.
Google’s West Africa director, Olumide Balogun emphasised Google’s commitment to Africa’s digital future. He noted that the partnership aligns with Google’s mission to develop Africa-centric solutions and promote digital innovation. In addition to financial support, selected startups will gain access to Google’s AI tools, mentorship and a global network of experts and investors, helping them scale their businesses beyond Nigeria.
Eligibility for the fund requires startups to be based in Nigeria, have at least one Nigerian founder and focus on AI-driven solutions with strong market potential. Applications opened on September 10 and will close on September 25, 2024, with winners announced in October.
Tijani explained that the government’s involvement in shaping AI policy will have long-term effects on both the public and private sectors. “If we get it right in the public sector, it will permeate the private sector, transforming national lives and shaping the future of our country,” Tijani said during the launch. He also revealed that the government is developing a National Artificial Intelligence Strategy to guide future policies and foster AI growth across multiple industries.
This initiative, announced on September 10, aims to foster AI innovation and entrepreneurship in Nigeria’s rapidly growing tech ecosystem. It builds on Google’s existing programmes, such as the Google for Startups Accelerator Africa, which recently announced its 8th cohort of 10 startups from across the continent, including Nigeria. The three-month virtual accelerator helps African startups leverage technology to address pressing challenges, demonstrating the continent’s vibrant talent and innovation.
Google highlighted the crucial role startups play in driving economic growth and technological progress in Africa. “These startups are not only creating jobs but also improving living standards by developing tailored solutions to local challenges,” Google noted, despite the ongoing “funding winter” in Sub-Saharan Africa. Since the programme’s launch in 2018, the Google for Startups Accelerator Africa has supported 106 startups across 17 African countries, helping them raise over $263 million and create more than 2,800 direct jobs, underscoring its impact on the continent’s tech landscape.
This year’s cohort focuses heavily on AI, emphasising the role of advanced technologies in addressing Africa’s critical challenges. The ₦100 million AI fund is part of the broader National AI Strategy published in August 2024, aimed at integrating AI into various sectors of the Nigerian economy to drive growth and improve societal well-being. The fund will provide Nigerian startups with the resources needed to develop and scale their AI solutions, fostering homegrown innovation.
Artificial Intelligence has the potential to revolutionize various industries in Nigeria, including agriculture, healthcare, education and finance. AI can improve efficiency, productivity, and decision-making, positioning Nigeria as a leader in the global technology landscape. By investing in AI, Nigeria can address local challenges and contribute to its economic growth.
In April 2024, the ministry held an Artificial Intelligence Strategy Workshop, bringing together key stakeholders to discuss the future of AI in Nigeria. This was followed by the release of the National AI Strategy in August, which outlined the country’s roadmap for integrating AI into various sectors. The AI Fund is a significant step toward actualizing these plans, providing Nigerian startups with the necessary resources to innovate and scale their AI solutions.
The AI Fund is open to Nigeria-based startups focused on AI-driven technology solutions with the potential for significant impact. Selected startups will receive up to ₦10 million in funding, along with access to Google’s resources, including AI tools, mentorship, and a global network to help them scale their innovations.
During its 2024 yearly conference, the International Standard Organization (ISO) raised several issues related to AI, including standards and ethical practices. ISO emphasised the importance of responsibly implementing AI to maximize its potential while minimising negative impacts. “With the ability to synthesise, analyse and act on vast amounts of data in seconds, AI is extremely powerful. As with any powerful technology, it is crucial we implement it responsibly to maximise its potential while minimising negative impacts,” ISO noted.
The organization cautioned against the potential replication of harmful biases in AI systems, particularly if they are trained on unscrutinized data. These biases could be disastrous if embedded in AI applications in health, recruitment, or law. ISO also highlighted concerns about privacy, noting that AI systems collect vast amounts of data, raising questions about the responsible use of personal information, particularly with technologies like facial recognition.
Ensuring the responsible development of AI is crucial for its safe, trustworthy and ethical advancement. Transparency and explainability in AI are key challenges that need to be addressed to build public trust. Machine learning, a subset of AI, refers to the ability of a system to learn from data without being explicitly programmed. For instance, spam filters in email platforms use machine learning to detect patterns in spam messages and decide which messages should be filtered out.
Machine learning starts with large datasets, which algorithms analyse to identify patterns, relationships and trends. These patterns are then used to make predictions or decisions on new, unseen data.
As Nigeria embarks on its journey to integrate AI into various sectors, the collaboration between the Nigerian government and Google Africa sets the stage for a future where AI drives innovation, economic growth, and societal development. By supporting startups with the AI Fund, Nigeria is taking significant steps toward becoming a leader in AI technology on the continent. The initiative not only addresses current challenges but also lays the foundation for a more digitally inclusive and prosperous future.
