The Director General of the National Information Technology Development Agency (NITDA), Mallam Kashifu Abdullahi, has said the agency took advantage of the COVID19 Pandemic to conceptualized the initiative to help the Nigerian startups have a breakthrough, not a breakdown during and after the COVID-19 crisis.
Speaking at the Media Stakeholder Engagement on the Bridge to MassChallenge Initiative held on Tuesday, 18th May 2021 virtually, Mallam Abdullahi said the initiative is designed to identify and accelerate top startups based in Nigeria and grow their businesses to serve the Nigerian and global market.
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 engagement on the Bridge to MassChallenge initiative, which is part of NITDA-MassChallenge partnership, which held on Tuesday.
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.
In her remarks, the Chief Executive Officer of MassChallenge, Siobhan Dullea said that MassChallenge has played a vital role in strengthening local and global innovation economies. We have helped entrepreneurs from more than 54 countries solve some of the world’s massive problems.
“MassChallenge is proud to partner with NITDA to foster cross-sector innovation and cooperation across all industries in Nigeria,” said Siobhan Dullea said.
“Bridge to MassChallenge Nigeria will help grow the highest-impact, highest-potential startups across Nigeria, while connecting them to MassChallenge’s global network.
We have supported many high-quality Nigerian startups through our global programs and we’re extremely excited to start our work with NITDA to support even more.”
MassChallenge is a non-profit organization dedicated to supporting innovation and entrepreneurship through collaboration and development. We have more than a decade of experience accelerating startups, industry, and innovation ecosystems. We work across sectors to drive a stronger future through collaborative innovation.
MassChallenge’s mission and model is designed to drive increased connectivity and density across all key innovation stakeholders : Government (federal, state, and municipal), Corporations, Academia, Media, Venture Capitalists, and Entrepreneurs. Connectivity and density attracts and support startups who seek access to resources (talent, expertise, capital, customers) in order to learn and grow quickly. Connectivity and density also benefit industry who also need to be proximate to the teams and technologies that will drive future innovation.
