The Director General of the National Information Technology Development Agency (NITDA), Mallam Kashifu Abdullahi, has expressed optimism that the partnership between the agency and MassChallenge will spur the evolution of Nigeria’s startup community.
He stressed that a vibrant startup ecosystem is highly critical to the future of our country and it’s vital to finding solutions to our various challenges.
The DG spoke at the media stakeholder bngagement on the Bridge to MassChallenge initiative, which is part of NITDA-MassChallenge partnership, which held on Tuesday.
According to him, the conceptualization of the initiative was to help the Nigerian startups have a breakthrough and not a breakdown, during and after the COVID-19 crisis.
Also, he added that the initiative is designed to identify and accelerate top startups based in Nigeria and grow their businesses to serve the Nigerian and global market.
Abdullahi, said: “You may recall that as part of our 20th anniversary celebration, we presented NITDA’s Strategic Roadmap and Action Plan (SRAP) 2021-2024 to you. The plan was crafted in line with the National Digital Economy Policy and Strategy (NDEPS) for a digital Nigeria.
“The NDEPS which was developed with the vision of transforming Nigeria into a leading digital economy, providing quality life and digital economies for all has been properly aligned with the SRAP seven strategic pillars.
“These pillars are developmental regulation, digital literacy and skills, digital transformation, digital innovation & entrepreneurship, cybersecurity, emerging technologies and promotion of indigenous content.”
He said the agency has as part of its achievements for the past 20 years, touched the lives of more than 2.5 million Nigerians, adding, the agency has also contributed to Nigeria’s exit from the recent recession.
Most importantly, our innovation and entrepreneurship initiatives have attracted more foreign investments into the country’s digital economy, the DG, said.
“We have also created new economic industries such as software, business process outsourcing and data protection, contributing to our national economy significantly.
“A vibrant startup ecosystem is highly critical to the future of our country and it’s vital to finding solutions to our various challenges.
“Innovation is a prominent way of creating prosperity for all and lifting countries out of poverty.” Abdullahi, said.
According to him, MassChallenge is well known as a global network of zero-equity startup accelerators. The partnership focuses on achieving three main objectives:
Firstly, to promote Nigeria as an emerging entrepreneurial hub and leader of innovation in Africa in order to support job creation and economic development.
And also to foster the growth and success of Nigeria’s startup enterprises by connecting our entrepreneurs with markets, networks, and capital in the global innovation ecosystem, while at the same time, facilitating key strategies to complement growing innovation initiatives within Nigeria.
Having these objectives, the DG, added that it is obvious we cannot succeed in silo. Therefore, we have identified you, the media, among six categories of stakeholders that will be fully involved in this initiative.
He said: “Others include critical government agencies, academia, business entities, angels investors and venture capitals and entrepreneurs.”
On the role of the media, he said: “Among all, you have the most critical role to play. Our startups are targeting the global market. Nigeria is a leader in the digital skills and startup ecosystem in Africa.
“The investments attracted by our startups confirms the position. Recently, Flutterwave announced new funding of $170m, and Stripe acquired Paystack for more than $200m.
“Other Nigerian technology companies like Interswitch have raised funding in the hundreds of millions of dollars.
“This shows that you are already doing your work in projecting Nigeria as a leader in Africa.
“I must admit that we are fortunate to have an excellent relationship with you. We are excited by the interest you have already shown in this initiative. We received confirmation from around 80 of you to join us today, this is unprecedented, and we are most appreciative.” He said.