Breaking: The Federal Government And Google Have Selected 10 Nigerian Startups For N100 Million In AI Funding.

The ten firms chosen as the recipients of the newly announced N100 million AI Fund have been revealed by Google and the Federal Ministry of Communications, Innovation, and Digital Economy.

Each chosen business will receive N10 million in funding through the Fund, which was created by the National Centre for Artificial Intelligence and Robotics (NCAIR) in partnership with Google. Additionally, each startup will receive up to $3.5 million in Google Cloud Credits to aid in the scaling of their ideas.

These entrepreneurs will also have access to Google’s top-notch AI tools, receive guidance from Google’s AI specialists, and have the chance to network with partners and innovators around the world.

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Taking on local issues
As stated According to Google, by concentrating on industries like healthcare, agriculture, education, and governance, the businesses would be essential in tackling regional issues and utilizing AI to promote sustainable economic growth.

“Entrepreneurs throughout Africa are utilizing technology, including artificial intelligence, to tackle significant societal issues,” stated Matt Brittin, President of Google for Europe, the Middle East, and Africa.

“Google is still dedicated to assisting these trailblazers increase their influence both within and outside of the continent.

“This partnership carries on our work in Africa, which has always been about enabling more people to benefit from the digital economy,” he continued.

Things you should be aware of
This project is in line with a larger analysis that emphasizes AI’s economic possibilities in Nigeria.

Based on recent research findings from First, by 2030, Nigeria’s economy might gain up to $15 billion from artificial intelligence.

Further demonstrating the importance of this partnership for Nigeria’s digital future, this program aims to harness that potential by providing local businesses and innovators with the tools, resources, and training necessary to utilize AI.

It expands upon Google’s N1.2 billion pledge to Nigeria, made in 2023, with the goal of empowering 20,000 Nigerians via initiatives for economic growth and digital skills.

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