Nigeria Launches Startup Support Portal to Catalyze Tech Ecosystem Growth

Nigeria Launches Startup Support Portal to Catalyze Tech Ecosystem Growth

By Staff Writer, 28 November 2023

In a significant development for Nigeria's tech landscape, the nation has unveiled a Startup Support and Engagement Portal, a pivotal component of the Nigeria Startup Act's execution.

The Nigeria Startup Act, initiated in May 2021 by the Nigerian presidency in collaboration with leaders from the country's technology industry, seeks to establish guidelines and structures for fostering collaboration between startups and governmental/regulatory bodies.

The ultimate goal is to propel Nigeria's burgeoning tech ecosystem to the forefront of the African continent.

After receiving approval from the Federal Executive Council in December 2021, gaining Senate approval in July 2022, the act was officially signed into law by then-President Muhammadu Buhari in October of the same year.

The legislation is designed to play a crucial role in positioning Nigeria's startup ecosystem as a trailblazer in Africa.

The latest stride in implementing the Nigeria Startup Act comes in the form of a new startup portal.

This portal is instrumental in identifying and aggregating Nigerian startups, venture capital firms, hubs, and innovation centers, aiming to streamline engagement and support for various stakeholders in the ecosystem.

According to the National Information Technology Development Agency (NITDA), the launch of the portal marks the commencement of setting up startup consultative forums.

These forums will play a pivotal role in selecting representatives to the National Council for Digital Innovation and Entrepreneurship, fostering discourse and consensus among key players in the Nigerian ecosystem.

The National Information Technology Development Agency (NITDA) expressed, "The launch of the portal will allow us to initiate the process of setting up the startup consultative forums to select representatives to the National Council for Digital Innovation and Entrepreneurship, in order to facilitate discourse and consensus among Nigerian ecosystem players."

All Nigerian startups, venture capital companies, hubs, and innovation centers are encouraged to register on the portal.

The complete text of the bill is available to the public here, with a summary accessible here.

This development follows a global trend, with Italy passing the world's first specific startup law in 2012.

Tunisia and Senegal took the lead in Africa, enacting similar legislation. Several other African countries, including Mali, Ghana, Ivory Coast, the Democratic Republic of Congo (DRC), Rwanda, and Kenya, are currently at various stages of enacting their own startup laws.

Tom Jackson / Disrupt Africa

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