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  The Federal Government has unveiled a registration portal for startups in Nigeria. The launch of the Startup Support and Engagement Portal, as the site is called, was announced by the Federal Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, on X (formerly Twitter).
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According to Mr Tijani, the portal will collect data concerning startups, Venture Capital firms, and angel investors, as well as innovation hubs, incubators, and accelerators. This is in line with the provisions of the Nigeria Startup Act, which was signed into law in October 2022.

What the Minister Had to Say

In the words of Bosun Tijani,
“The startup portal will drive the identification and aggregation of Nigerian startups, venture capital companies, hubs and innovation centres in order to facilitate engagement and support for ecosystem players.”
He further said,
“The launch of the portal will allow us initiate the process of setting up the startup consultative forums to select representatives to the National Council for Digital Innovation and Entrepreneurship, in order to facilitate discourse and consensus among Nigerian ecosystem players.”
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The minister invited startups. Venture capital companies, hubs, and innovation centres to register on the portal. He also said that the ministry was ready to collaborate with stakeholders to achieve a comprehensive implementation of the Nigeria Startup Act, for the good of the country’s innovation ecosystem.

Benefits for Startups Registering on the Portal

Startups which register on the portal will get a startup label, which will in turn give them access to seed funding, loans, and grants; tax and fiscal incentives designed specifically for startups; training and capacity building programs; regulatory sandboxes; and linkages with relevant Ministries, Departments and Agencies (MDAs).
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How to Register on the Startup Support and Engagement Portal

Startups can register on the portal by following these steps:
  • Visit the website, startup.gov.ng
  • Click on the ‘Register’ button at the top right
  • Fill out the registration form and upload the requested document
  • If the startup coordinator is satisfied with the information that a startup has provided, they will have the name and details of the startup entered into the startup register, and issue a label to the startup concerned
  • NB: In order to be recognized as a startup, prospective registrants will have been in operation for not longer than 10 years.
Featured Image Source: Naija Times
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This article was first published on 23rd November 2023

ikenna-nwachukwu

Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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