Nigerian authorities to allocate about $290,000 for AI startups

The Nigerian government plans to provide 45 local AI-focused projects with 5 million naira each (about $6,500). This was announced by the Minister of Communications, Innovation and Digital Economy, Bosun Tijani. 

To support the mainstreaming of the application of Artificial Intelligence for economic prosperity, we’ve launched the Nigeria Artificial Intelligence Research Scheme to fund 45 consortia of startups and researchers to allow them explore further opportunities to deepen their… pic.twitter.com/CaD5Vqs8Du

— Dr. ‘Bosun Tijani (@bosuntijani) October 13, 2023

The initiative is part of the recently approved AI Research Schemes, which aim to stimulate Nigeria’s economic development through the deployment of new technologies. 

According to the website, the main areas for integration include agriculture, education and the employment sector, finance, governance, healthcare and utilities.

A consortium, which includes a startup or technology company, as well as a specialised academic AI researcher, may apply for the government grant. 

The project itself must align with the priority areas designated by the authorities. Applicants should submit a detailed proposal describing the startup and its potential impact on Nigeria’s economy. 

Candidates must have a “proven track record” in research or entrepreneurship. 

Applications are open from October 13 to November 15, 2023. Proposals will be evaluated by a panel of AI experts.

Earlier in April, British Prime Minister Rishi Sunak announced a grant £100 million to stimulate the development of ‘sovereign AI’.