The Federal Government on Tuesday launched the Nigeria Startup Portal, which is a key requirement for the implementation of the Nigeria Startup Act. The launch was announced by the Minister of Communications Innovation and Digital Economy, Bosun Tijani, on his X account.
He wrote, “The Nigeria 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.”
“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.”
He, however, invited all Nigerian startups, venture capital companies, hubs and innovation centres to register.
About the Nigeria Startup Support and Engagement Portal
The Startup Support and Engagement Portal is a one-stop portal that provides startups with easy access to registrations, access to information, resources, incentives, collaboration and linkages.
The Nigeria Startup Portal will facilitate the labelling of Nigerian Startups and the registration of Venture Capitalists, Angel Investors, Accelerators, Incubators & Innovation Hubs (A.I.I.), and Civil Society Organisations involved in advancement of Technology and Innovation.
The Startup Support and Engagement Portal was set up as part of efforts to collate and classify startups in Nigeria to benefit from the opportunities provided in the Nigerian Startup Act 2022. Specifically, the portal will facilitate the labelling of Nigerian startups, venture capital companies, hubs and innovation centres in Nigeria. This is pursuant to the requirements of Section 10 of the Nigerian Startup Act, 2022.
What is Nigeria Startup Act?
The NSA is a co-created law by the government and ecosystem to unlock Nigeria’s digital economy potential by ensuring regulatory certainty, creating an enabling business environment, and fostering local content to attract investment and create job opportunities.
What are Features of the Nigeria Startup Support and Engagement Portal?
- Registration of A.I.I. and Labeling of Startups: Identifying structured and quality support for high-impact and scalable startups
- Startup Engagement and Support: Providing startups with valuable knowledge and information resources for growth and success
- Tax and Fiscal Incentives: The Act offers a range of incentives to encourage both local and foreign investors to invest in a Nigerian startup
- Financing and Fund Management: Ensuring access to financial resources and effective fund management for startup
- Ecosystem Engagement and Support: Building a robust support structure for the startup ecosystem to grow and thrive
- Collaboration and Linkage with Government: Fostering partnerships and connections with relevant government agencies to advance startup initiatives.
Benefits of Getting a Startup Label
- Access to the startup investment seed fund, grants, loans etc.
- Access to tools and resources
- Tax and fiscal incentives for Startups and Investors
- Capacity building programs and trainings
- Participation in regulatory sandboxes
- Ecosystem engagement and support infrastructure
- Collaborations and linkages with relevant MDAs as it relates to a startup
How to Register for the Nigeria Startup Portal
Registration is open in four categories: Startups, Angel Investors, Venture Capitalists, and Accelerators, Innovation Hubs & Incubators
Startups Registration
Criteria to enroll
- Be a limited liability company registered under the Companies and Allied Matters Act (CAMA).
- Be a company existing for less than 10 years from the date of incorporation.
- Have objects that are focused on innovation, development, production, improvement, and commercialization of a digital technology innovative product or process.
- Be a holder or repository of a product or process of digital technology or the owner or author of registered software.
- Have at least one-third of local shareholding held by one or more Nigerians as founder or co-founder of the startup.
- Satisfy the conditions set out in the Act, in the case of a sole proprietorship or partnership.
- Be a tech-enabled business that uses existing tools, platforms, libraries, and frameworks to make a company or a solution more efficient or effective.
Enrollment Process:
- Go to the Nigeria Startup Portal registration page at https://startup.gov.ng/forms/startups/
- Enter your Company information
- Enter your contact information
- Provide your Founder or Co-Founder’s detail
- Provide the Founder’s means of identification to verify information/details
- Click on the Next button to proceed with the registration form.
Angel Investor Registration
Angel Investors provide early-stage funding and mentorship to catalyze innovation and help startups attract larger funding rounds.
Criteria to enroll
- Be a high net worth individual or company which provides funding to an early-stage startup, typically in exchange for equity in the startup company.
- Provide proof of investments, membership of an Angel Network, or Investment Syndicate is desirable.
Enrollment Process:
- Go to the Nigeria Startup Portal (Angel Investor Registration) page at https://startup.gov.ng/forms/angel/
- Enter your Company information
- Enter your contact information
- Enter all necessary info on investment
- Provide means of identification to verify information/details
Venture Capitalist Registration
Venture Capitalists foster innovation and drive economic growth by providing essential funding and strategic support to startups.
Criteria to enroll
- Be a partnership or company that provides capital to a Startup that is exhibiting high growth potential in exchange for equity.
- Have at least one fund with investments in a Nigerian Start-up.
Enrollment Process
- Go to the Nigeria Startup Portal (Venture Capitalist Registration) page at https://startup.gov.ng/forms/vc/
- Fill your Company information
- Fill your contact information
- Fill all necessary info on investment
- Provide means of identification to verify information/details
Accelerators, Innovation Hubs & Incubators Registration
Embark on a journey of innovation and entrepreneurship with our dedicated support system for startups.
Criteria to enroll
- Incubator: Be a company, partnership, non-governmental organization or limited liability partnership, whose principal object is to support the establishment and development of a tech start-up, promotion of innovation, and related activities through the offer of dedicated physical spaces and services.
- Accelerator: Demonstrate experience in developing and implementing a fixed-term, cohort-based programme which provides start-ups with mentorship and educational assistance to aid its growth.
- Innovation Hub: Provide or demonstrate proof possession of physical or virtual space where innovators, entrepreneurs, and technology enthusiasts come together to collaborate, exchange ideas, and work on innovative projects.
Enrollment Process
- Go to the Nigeria Startup Portal (Accelerators, Innovation Hubs & Incubators Registration) page at https://startup.gov.ng/forms/accelerators/
- Fill your Company information
- Fill your contact information
- Fill all necessary info on incubators
- Provide means of identification to verify information/details
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