The National Information Technology Development Agency (NITDA) has announced the conclusion of the NITDA-Founder Institute (FI) 2023 Startup Accelerator Programme.
The graduation ceremony marked the successful journey of 13 outstanding founders who exhibited exceptional dedication and innovation throughout the intensive 14-week accelerator program.
The ceremony, attended by key industry stakeholders, government officials and tech enthusiasts, highlighted the collaborative efforts between NITDA and Founder Institute in cultivating a vibrant tech innovation ecosystem in Nigeria.
Under a contract agreement with NITDA, the Founder Institute executed a virtual Accelerator Programme focused on discovering and nurturing founders with innovative startup ideas in emerging technologies such as blockchain, artificial intelligence, robotics, cybersecurity, e-commerce, software, fintech, edtech, Internet of Things (IoT) and biotechnology.
Commencing on October 18, 2023, the programme attracted a total of 50 founders, with 30 enrolled from NITDA and 20 from the Founder Institute. The accelerator featured 16 knowledge acquisition sessions, covering various aspects of entrepreneurship, product development and mentorship.
In his address, the director-general of NITDA, Mallam Kashifu Abdullahi, commended the commitment of both NITDA and Founder Institute in enhancing the capacity of the new set of innovative portfolio startup companies. He expressed satisfaction that the programme aligned with President Bola Tinubu’s ‘Renewed Hope’ agenda, emphasising its harmony with the Federal Ministry of Communications, Innovation and Digital Economy’s strategic pillars.
Abdullahi highlighted the government’s recognition of digital innovation and entrepreneurship as catalysts for transforming traditional economic sectors. He cited The Nigeria Startup Act as a crucial piece of legislation offering favourable advantages such as regulatory support, tax reliefs/incentives, capacity building, talent development, effective accountability and unambiguous governance guidelines to the country’s tech ecosystem.
Congratulating the graduands, Abdullahi stated, “I highly commend the rigorous review phases today’s graduands passed through. Your success in the programme is a clarion call for you to sustain the determination and diligence to explore the boundless innovative future that beckons at you. The knowledge gained will remain yours, saluting your courage in making it to the Accelerator programme.”
He emphasised the Nigeria Startup Act as a game-changing legislation, offering the tech startup ecosystem favourable advantages and promising a better future for growth, attraction and protection of investment. Encouraging relevant stakeholders to collaborate in leveraging this legislation, Abdullahi assured NITDA’s preparedness to partner with local and international entities to address challenges faced by talented indigenous startups.
The rigorous review phases during the programme included mentor review sessions, mentor idea review (MIR), product development sessions and mentor progress review (MPR) sessions. The graduation ceremony signifies a significant milestone in elevating Nigeria’s tech ecosystem, showcasing the potential for sustained growth, innovation, and economic diversification through digital entrepreneurship.
