Startup Bill to address 90% challenges confronting Nigerian innovators - Pantami

The Nigerian Startup Bill (NSB), when it becomes a law, would help address more than 90% challenges confronting technology innovators in the country, Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim Pantami, has said.

Pantami while speaking this week in Abuja to mark the United Nations (UN) World Creativity and Innovation Day (WCID) with commemorative activities organised by the National Information Technology Development Agency (NITDA), said young innovators should get succor from setbacks they were currently experiencing whether funding, adoption or other such policy support.

The Nigeria Startup Bill project is a joint initiative by Nigeria’s tech startup ecosystem and the Presidency to harness the potential of our digital economy through co-created regulations. “The Bill will ensure that Nigeria’s laws and regulations are clear, planned and work for the tech ecosystem. This, we believe, will contribute to the creation of an enabling environment for growth, attraction and protection of investment in tech startups.”

According to the promoters of the bill, it will provide for the creation and development of an enabling environment for technology-enabled startups in Nigeria

While touring the young innovators exhibitors’ booth during the WCID ceremony, the minister assured that his ministry was firmly committed to ensuring the startup bill becomes law.

The Nigeria Startup Bill is already at the National Assembly. It is expected to address the twin challenges of low funding and absence of regulatory support. Once it becomes law, there will be a Startup Investment Seed Fund to be managed by the Nigeria Sovereign Investment Authority. The Startup Investment Seed Fund is designed to provide early-stage finance for startups, as well as support technology laboratories, accelerators, incubators, and hubs.