Omobola Johnson, Nigeria’s communication technology minister, has launched the National ICT Incubation Programme in Lagos, which aims to create 25 successful tech businesses by 2015.
The programme, Information Technology Developers Entrepreneurship Accelerator (iDEA), will be one of several rolled out across the country and is aimed specifically at tech entrepreneurs.
Johnson said: “While these centers are being initially established and funded by government through the National Information Technology Development Fund (NITDEVF), they will subsequently be funded and managed independent of government through iDEA under the guidance and supervision of the Governing Council which was inaugurated earlier in February.”
The centre has a mandate of creating 25 successful ICT businesses by 2015. It is also required to serve as a catalyst for the country’s ICT industry via its creation of successful businesses.
The centres have been discussed since 2011, when the ministry consulted with private sector experts.
In February the governing board for iDEA was set up with industry experts, including Dotun Sulaiman as chairman.
Johnson added: ‘’We are setting up a venture capital fund in conjunction with private equity investors to be solely focused on ICT businesses.
“Initial and final close of US$15m and US$30m respectively with NGN500m/US$3.5m Seed Capital secured from NITDEVF, while the remaining fund will be sourced through private equity.”
