The Federal Government of Nigeria, through the National Centre for Artificial Intelligence and Robotics (NCAIR) in partnership with Google, has launched a N100 million AI Fund.
This initiative aims to empower Nigerian startups that are leveraging Artificial Intelligence (AI) to develop innovative and scalable solutions.
Below is a step-by-step guide on how Nigerian startups can apply for this opportunity.
Step 1: Understand the Eligibility Criteria
Before you apply, make sure your startup meets the following requirements:
– Nigerian-based: Your startup must be headquartered in Nigeria.
– Nigerian Founder: At least one of the founders must be Nigerian.
– AI-Driven Solutions: Your startup should focus on developing scalable, AI-driven technology solutions.
– Live Product: You must have a live product that demonstrates early traction and market fit.
Step 2: Prepare Your Application Materials
To apply for the AI Fund, you will need to prepare essential documents and materials that showcase your startup’s potential:
– Pitch Deck: Highlight your business model, AI solution, scalability, and market traction.
– Team Overview: Provide detailed information about your team, especially the expertise in AI.
– Product Overview: Describe the AI technology you are using and how it is driving your solution.
-Market Analysis: Show evidence of market fit and traction, as well as how your product is solving real-world problems.
Step 3: Apply Online
Applications for the AI Fund are being accepted online. Ensure you have all your documentation ready before starting the process.
The application link can be found on NCAIR or Google’s official websites. Follow the prompts to submit your application.
Step 4: Selection Process
Once applications are closed, a rigorous selection process will be carried out by a panel of experts to identify startups with the most promising and impactful AI solutions. The selection will focus on scalability, innovation, and potential market impact.
Step 5: Wait for the Announcement
The successful startups will be announced in October 2024. If your startup is selected, you will receive up to N10 million in funding, along with access to Google’s AI tools, mentorship, and global network.
Step 6: Leverage the Support
If selected, make the most of the funding, mentorship, and tools provided by Google and NCAIR. This is a unique opportunity to drive the growth of your startup and contribute to the digital economy of Nigeria.
