The Nigerian Minister of Communications, Innovation and Digital Financial system, Bosun Tijani, revealed on Friday, Oct.13, that the federal government intends to grant 5 million naira ($6,444) to 45 synthetic intelligence (AI)-focused startups and researchers.

This initiative was disclosed by the minister in a put up on X (previously Twitter) and is a part of the lately launched Nigeria Synthetic Intelligence Analysis Scheme, which is designed to facilitate the widespread utilization of AI to drive financial development.

As outlined on the scheme’s official web site, the main target areas embrace agriculture, training and workforce, finance, governance, healthcare, utility and sustainability. To be eligible for a grant, candidates should kind a consortium comprising a startup or tech firm, a researcher from a Nigerian college or a overseas researcher, in accordance with the ministry.

To help the mainstreaming of the appliance of Synthetic Intelligence for financial prosperity, we’ve launched the Nigeria Synthetic Intelligence Analysis Scheme to fund 45 consortia of startups and researchers to permit them discover additional alternatives to deepen their… pic.twitter.com/CaD5Vqs8Du

— Dr. ‘Bosun Tijani (@bosuntijani) October 13, 2023

Candidates ought to current a analysis proposal aligned with the Ministry of Communications, Innovation and Digital Financial system’s AI focus areas. Moreover, they need to present a complete proposal highlighting the undertaking’s potential financial influence in Nigeria.

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Candidates will need to have a confirmed monitor report of excellence in analysis or entrepreneurship and are anticipated to publish at the very least one peer-reviewed article inside one 12 months of receiving the grant.

In August, the Nigerian authorities prolonged an invite to scientists of Nigerian heritage, in addition to globally famend specialists who’ve labored inside the Nigerian market, to collaborate in formulating its Nationwide Synthetic Intelligence Technique.

The appliance interval commences on Oct.13, 2023, and concludes on Nov. 15, 2023. The ministry has indicated {that a} panel of AI specialists will assess the proposals.

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