Silicon Valley: Ogun To Benefit From $34bn Innovation Economy - THE DAILY CRUCIBLE

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Saturday, August 27, 2022

Silicon Valley: Ogun To Benefit From $34bn Innovation Economy




The Daily Crucible | Saturday, August 27, 2022

The Ogun State government has entered into a strategic partnership with GetFundedAfrica.

The step seeks to increase the number of tech startups in the Information and  Communication Technology (ICT) in the state and tap into the $34b innovation economy.

The Chief Press Secretary to the Ogun State governor, Kunle Somorin, in a statement disclosed that the partnership was to enable Ogun benefit from the huge venture capital flows into Africa.

Somorin said the partnership by the state through its Bureau of Information Communication Technology (BICT) is also to make Ogun, starting with Abeokuta, an innovation state and destination of venture capital flows, which according to him is in the fulfilment of Gov. Dapo Abiodun's developmental initiatives and leveraging technology and innovation to build Nigeria’s first Silicon Valley.

He explained that GetFundedAfrica is a pan-African venture service platform that matches startups, investors, corporates & G governments and helped African startups raise over $150m in 2021.

Quoting the Head of BICT and the Special Adviser to the governor on ICT, Dayo Abiodun, the statement noted that Ogun as the  Nigeria’s industrial hub and home to the highest number of tertiary institutions in the country, is focused on unlocking a $34 billion innovation economy and happy to partner with GetFundedAfrica to achieve the ICT objective set by the governor.

The statement that further quoted the Commissioner for Finance and  Chief Economic Adviser, Dapo Okubadejo, that the partnership is already yielding fruit as 20 startups are in the process of relocating to the Ogun Tech Hub in Abeokuta, also echoed the Chief Commercial Officer of GetFundedAfrica, Tunji Oke, that over the next 36 months, no fewer that 400 startups from across Africa  would be brought and help Ogun to unlock billions of dollars in innovation.

"The first batch of 20 startups cut across verticals such as Fintech, Agritech, Healthtech, Software Development, Training and Talent Recruitment and are startups from Nigeria, Uganda, UAE, Kenya and  Germany, will be helped by GetFundedAfrica with fundraising, mentors, coaching, corporates, media and more. The state will support with visa, insurance, office spaces, utilities and more.

"Startups can apply to be considered to access funding and be incubated in the tech hub using this link- https://forms.office.com/r/HXQ0vgQrdi", the statement submitted.

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