Categories: The Crunch

Nigeria to Launch IT Innovation Fund for African Start-ups

14th Oct 2014 And now good news for tech entrepreneurs everywhere, with the news that Nigeria is almost set to launch its government seeded IT Innovation Fund with plans to invest in not just Nigerian, but African startups.

Techcabal which brings us the story, shares that the Nigerian Government has committed $9m as seed capital to this fund to be managed by EchoVC.

The seed fund has been a long way coming, with the idea raised as far back as 2012. The story takes from Nigerian ICT Minister’s Speech at Demo Africa 2014. In that speech, the Minister Mrs Omobola Johnson, referenced a report predicting that the Internet could contribute up to 300 billion United States dollars to Africa’s GDP by 2025; up this is from an estimated 18 billion in 2013.

Sounds like a great idea, we all know that the future of technology is literally here as far as Africa is concerned, and it’s in everyone’s best interests to get a foot in now.

Admin

Share
Published by
Admin

Recent Posts

LoveFest Valentine’s weekend at EbonyLife Place ignites a spark with lovers and loved ones alike

Friends and family rush to join couples celebrating the season of love with fine dining…

5 years ago

Funke Akindele-Bello and Akin Lewis are hilarious in new trailer for EbonyLife’s blockbuster, Your Excellency

Lagos, 8 November 2019 – EbonyLife Films, producer of Fifty, The Wedding Party movies and…

5 years ago

WildlifeDirect and EbonyLife TV Wildlife Warriors TV Series Partnership

Nairobi, November 01, 2019: First African produced Wildlife documentary series, from Kenya Wildlife Warriors goes…

5 years ago

Òlòtūré selected for official screening at prestigious Carthage Film Festival, Tunisia

Trailer now available for viewing ahead of cinema release in 2020 31 October 2019, Lagos,…

5 years ago

Hot new poster launches campaign for EbonyLife’s hilarious December blockbuster, Your Excellency

Funke Akindele-Bello and Akin Lewis head all-star cast Lagos, 7 October 2019 – EbonyLife Films,…

5 years ago