The Federal Government has taken a significant step toward fostering the growth of the Nigerian startup ecosystem with the launch of the Startup Support and Engagement Application Portal. This portal serves as a crucial component for the implementation of the Nigeria Startup Act, aiming to provide incentives, structures, and programs to catalyze the growth of startups in the country.
Key Features of the Nigeria Startup Act
Enacted to create a foundation for exporting tech-enabled services, the Nigeria Startup Act offers a comprehensive framework. It introduces incentives, structures, and programs designed to support Nigerian startups and facilitate their growth.
Additionally, the Act establishes the National Council for Digital Innovation and Entrepreneurship, entrusted with aligning national policies and implementing initiatives to support tech-enabled startups.
Purpose of the Startup Support Portal
The newly launched portal plays a pivotal role in identifying and aggregating Nigerian startups, venture capital companies, hubs, and innovation centers. By doing so, it aims to facilitate engagement and support for all stakeholders within the startup ecosystem. This initiative aligns with the Act’s goals of creating a conducive environment for startups to thrive.
Setting up Consultative Forums
As part of the process, the Federal Government plans to establish startup consultative forums. These forums will play a crucial role in selecting representatives to the National Council for Digital Innovation and Entrepreneurship. The objective is to foster discourse and consensus among Nigerian ecosystem players, ensuring a collaborative and effective approach to supporting startups.
Dr. Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, extends an invitation to all Nigerian startups, venture capital companies, hubs, and innovation centers.
Nigeria Startup Act Portal
The Minister expresses eagerness to collaborate with industry stakeholders for the benefit of the innovation ecosystem.
The launch of the Startup Support and Engagement Application Portal marks a significant milestone in the realization of the Nigeria Startup Act’s objectives. As the Federal Government invites active participation from all stakeholders, this initiative is poised to shape a vibrant and thriving startup ecosystem in Nigeria, fostering innovation and economic growth.