FG makes new N20m investment in start-up ecosystem


COVID-19: Heels & Tech closing Women, Technology gap
COVID-19: Heels & Tech closing Women, Technology gap

By Prince Osuagwu

The Federal government has pumped N20 million into the Nigerian start-up ecosystem. The investment came through the Nigerian Communications Commission, NCC, which doled out a grant of 5million each to four young tech start-ups in the country.

The funding is to help the four start-ups gain fast traction and grow into big establishments that would eventually soak up the bloating labour market.

Government said the grants were in furtherance of its commitment to encourage and develop new indigenous technologies and contents that can stimulate sustainable economic growth. 

The four tech startups are: Clearflow System Hub, Aelaus Engineering Teams/Hyech Electronics Solutions, Kalibotics, and CyberNorth Tech.

The tech start-ups were considered after emerging winners of the Internet of Things (IoT) Code Camp and Hackathon 2021, organised by the commission.

They were adjudged to have provided innovative technology solutions aimed at making life…

Source: Vanguard Newspaper

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