NITDA graduates Participants from 2023 Startup Accelerator Programme

Nigeria’s National Information Technology Development Agency (NITDA) has graduated  13 outstanding founders as it concludes the NITDA-Founder Institute (FI) 2023 Startup Accelerator Programme.

According to the agency the graduates demonstrated exceptional dedication and innovation during the rigorous 14-week accelerator program.

The ceremony, attended by key industry stakeholders, government officials, and tech enthusiasts underscored  the collaborative efforts between NITDA and Founder Institute in fostering a vibrant tech innovation ecosystem in Nigeria.

The Founder Institute, under a contract agreement with NITDA, executed a virtual Accelerator Programme that was aimed to discover and nurture founders with innovative startup ideas in emerging technologies, including Blockchain, Artificial Intelligence, Robotics, Cybersecurity, e-Commerce, Software, Fintech, EdTech, Internet of Things (IoT), and Biotechnology.

The programme, which commenced on October 18, 2023, attracted a total of fifty 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, Kashifu Inuwa  commended the commitment of both NITDA and Founder Institute in upgrading the capacity of the new set of innovative portfolio startup companies.

He expressed satisfaction that the programme aligned with the President Bola Ahmed Tinubu’s “Renewed Hope Agenda and harmonises with the Federal Ministry of Communications, Innovation, and Digital Economy’s strategic pillars.

“Particularly the administration’s redefined priority aimed at leveraging technology for “Accelerating Diversification through Industrialisation, Digitisation, Creative Arts, Manufacturing and Innovation”He said .

Inuwa stated that the ceremony further showed Government’s recognition of digital innovation and entrepreneurship as catalysts for transforming traditional economic sectors.

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He cited the Nigeria Startup Act as a crucial piece of legislation offering favorable advantages such as regulatory support, tax reliefs/incentives, capacity building, talent development, effective accountability, and unambiguous governance guidelines to the country’s tech ecosystem.

Commending the graduands, the DG said that  “the I highly commend the rigorous review phases today’s graduands passed through and it is with great pride that I congratulate the 13 founders who excelled at the programme 

“Your success in the programme is a clarion call for you to sustain the determination and diligence to gainfully explore the boundless, innovative future that beckons at you.

“To others who participated in the programme, the knowledge gained will remains yours as you have garnered new insights to prepare you for the challenges ahead, He advised.

The NITDA boss underscored the importance of  digital innovation and entrepreneurship as recognize by government as major catalysts for the rapid transformation of traditional economic sectors, supporting the provision and adoption of indigenous and tailor-made solutions for the implementation in  Nigeria’s  expanding tech innovation ecosystem.

According to Inuwa the Nigeria Startup Act offers Nigeria’s tech startup ecosystem the most favourable advantages and promises a better future for growth, attraction, and protection of investment in tech startups and companies

The Director General  urged  relevant stakeholders to collaborate in leverage on the legislation to diversify the economy and create opportunities for indigenous tech innovation enterprises.

He gave the assurance that NITDA was  prepared to partner with local and international organisations to address challenges faced by talented indigenous startups, fostering an environment conducive to growth and innovation in the tech sector.

The review phases during the programme included Mentor Review sessions, Mentor Idea Review (MIR), Product Development sessions, and Mentor Progress Review (MPR) sessions.