The government of Japan has been urged by the Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa CCIE, to take advantage of the country’s youthful population by forming strategic talent partnerships that will develop and produce a workforce that can be exported.
He claims that this is a component of President Bola Tinubu’s present administration’s commitment to giving young Nigerians worldwide access to meaningful opportunities.
At the opening ceremony for the third cohort and demo day of the Ihatch startup incubation program, which were hosted in Abuja by the agency’s subsidiary, Office for Nigerian Digital Innovation (ONDI), in collaboration with Japan International Corporation Agency (JICA), the DG made the announcement.
According to Inuwa, the National Centre for Artificial Intelligence and Robotics (NCAIR) is home to the ONDI’s 5-month free intensive incubation program, Ihatch, which is intended to assist Nigerian tech entrepreneurs in honing their business concepts through a series of workshops, seminars, and booth camps. The program’s main objectives are to help entrepreneurs develop scalable and flexible business models that centre on youth, innovation, entrepreneurship, and technology.
He continued by saying that JICA has decided to extend the Fourth Cohort throughout all 36 States and the Federal Capital Territory, adding that the incubation program will take place concurrently in Abuja, Lagos, Port Harcourt, Gombe, and Kano. Wider reach and the stimulation of startup ecosystems across the United States are the goals of this.
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The reach of the program
According to the DG, at least 1,218 applications were received for the Second Cohort. After going through a rigorous selection process led by a panel of judges made up of experts in a variety of technology and innovative entrepreneurship-related fields, the number of applications was reduced to 8 startups, each with 16 members, including a Founder and Co-Founder.
He clarified that a set of criteria, including profitability, scalability, social effect, idea technique, competitive advantage, experience, and a clear roadmap for the future, were used to evaluate the firms’ ideas throughout the selection process.
Inuwa further disclosed that 11,183 applications for the Third Cohort were received from all six geopolitical zones combined. As a result, the top 8 startups—which together include 16 founders—were chosen to take part in the recently announced Third Cohort.
He continued by saying that 16 startups that took part in the iHatch incubation program’s first and second cohorts had gone on to achieve outstanding success in the areas of funding, job creation, event participation, and valuable partnerships, which had resulted in the creation of 179 direct jobs in the agriculture, health, education, and e-commerce sectors combined.
The DG went on to say that some of the firms had obtained additional funds through other sources in addition to the US$45,000 total award (US$15,000 for each startup) for Proof of Concept (POC) given to the top 3 in the first cohort. First-cohort health tech startup Xolani Health received a grant of US$155,000; first-cohort health tech startup BetaLife received an angel investment of US$60,000; second-cohort e-commerce startup Gifty received a grant of US$8,000; and two other first- and second-cohort startups raised a total of US$6,000 in grants.
Inuwa reaffirmed the organisation’s dedication to collaborating with pertinent partners and stakeholders to successfully execute the Nigeria Startup Act (NSA), which will spur innovation and give our burgeoning youth population much-needed employment. We are resolute in fostering the entrepreneurial spirit in our kids to propel the Nigerian digital economy to new heights, and we will leave nothing to chance.
The National Talent Export Program’s National Coordinator, Dr Femi Adeluyi, on behalf of the Honorable Minister of the Federal Ministry of Industry, Trade and Investment, Doris Nkiruka Uzoka-Anite, praised NITDA for the numerous projects and programs implemented to enhance the nation’s tech ecosystem.
Anite observed that the NITDA DG repeatedly stressed the necessity for Nigeria to become the world’s talent destination, drawing in nations looking for labourers to assist them in accomplishing their aims and objectives during the 2023 edition of the Digital Nigeria International Conference.
She added that “technology is a pivotal tool in all aspects of life which cannot be overemphasised and the green transition scoreboard global total has reached about $7.13 trillion for export and about $6.6 trillion for importation, the important aspect is that 54% of these activities is digitally edible and prepares people to be effective and efficient in the different sector of the economy is laudable”.
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Remarks on Nigerians’ resilience
The Japanese Ambassador to Nigeria, Matsunaga Kazuyoshi, was represented by Yuzurio Susumu, Chief of the Nigeria Office. He said that Nigeria is the most popular country in Africa and the centre of entrepreneurship activities aimed at the advancement of the nation. The Minister also praised JICA for its unwavering efforts toward the advancement of the tech ecosystem in the areas of automobile development, training, scholarships, interventions, and much more, which has impacted the citizens directly or indirectly.
He added, “With all the challenges faced by insecurity, and limited infrastructures in the country, Nigerian startups are demonstrating remarkable creativity and resilience in developing solutions that other critical social issues in areas such as education, transportation, healthcare and finance”.
He continued by saying that the current government has recognised the potential for startups and digitization to revolutionise society, making it a crucial component in reducing Nigeria’s reliance on oil.
The Ambassador made the point that startups are thought of as a force for innovation in business, bringing with them new concepts, cutting-edge tools, and job possibilities. Japan is the country with the longest history of technological invention, and its entrepreneurship greatly contributes to the Nigerian system’s upkeep.
Both public and private sector leaders attended, and the top three (3) startups were awarded cash prizes: Fundus AI took first place with $15,000, Reno came in second with $12,000, and Ilim Tutors placed third with $10,000.