13th December 2024
The Akwa Ibom State government is advancing efforts to secure access to the Federal Government’s N10 billion annual start-up fund as the Akwa Ibom Start-Up Bill nears its third reading in the State House of Assembly.
The bill aims to create a legal framework to foster innovation, support start-ups, and establish Akwa Ibom as a leading tech hub in Nigeria.
During a stakeholders’ sensitization meeting held at Merzino Palace, Uyo, on Thursday, Mr. Uduak Ekpo-Ufot, Chairman of the House Committee on Science and Technology, emphasized the bill’s potential to nurture start-ups into unicorn companies and contribute to the state’s economic growth.
Ekpo-Ufot announced plans for robust awareness campaigns and revealed that funding for the initiative would be included in the 2025 state budget.
Ms. Victoria Fabunmi, National Coordinator at NITDA’s Office for Nigerian Digital Innovations, urged the state to align with the Federal Government’s Start-Up Act, enabling Akwa Ibom to leverage the national framework for local development.
Stakeholders, including representatives from the Nigerian Export Promotion Council, start-up founders, and investors, highlighted the bill’s potential to attract investments and unlock funding for SMEs through credit-guarantee schemes.
The initiative positions Akwa Ibom to drive innovation and technological excellence in Nigeria.
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