Nigerian startup secures $37,000 in seed funding from JICA at iHatch incubation program: Three Nigerian startups have secured a total of $37,000 in seed funding from Japan International at the Cohort II Demo Day and the Japan Cooperation Agency (JICA) to launch the Cohort III Idea Hatch (iHatch) incubation program. You have taken an important step in your entrepreneurial journey. formula. The initiative, supported by JICA and hosted by the National Information Technology Development Authority (NITDA) in Abuja, is in line with Nigeria’s digital economy agenda to encourage innovative ideas and transform them into impactful and entrepreneurial This is to develop them into venture businesses.
At the event, the top three startups received different amounts of money. First, second, and third place winners received $15,000, $12,000, and $10,000, respectively, and were given the opportunity to further develop their business models and ideas.
Mallam Kashifu Inuwa Abdullahi, Director General of NITDA, highlighted the iHatch programme’s five-month intensive incubation, focusing on coaching, lectures, and boot camps to refine business ideas and create scalable models. Emphasizing the program’s emphasis on youth, innovation, entrepreneurship, and technology, Abdullahi underscored its significant impact on job creation and Nigeria’s digital solutions landscape.
He outlined plans to expand the iHatch training nationwide, covering all 36 states and the Federal Capital Territory (FCT), acknowledging the potential for job creation and fostering digital solutions across the country.
Kazuyoshi Matsunaga, the Ambassador of Japan to Nigeria, commended Nigeria’s burgeoning entrepreneurial activity and expressed admiration for the startups’ resilience in addressing critical societal issues despite challenges in security and infrastructure. He highlighted Japan’s commitment to supporting Nigerian startups through various schemes, including iHatch, NINJA, and IICA, stressing the importance of collaboration between Japanese and Nigerian companies to drive innovation and economic growth.
Mr. Matsunaga emphasized that startups are catalysts for change that bring fresh ideas, innovative technology, and new job opportunities. He cited Japan’s role in supporting Nigeria’s startup ecosystem and promoting economic diversification, and envisioned a better future for Nigeria through investing in startups and fostering a culture of innovation.
In closing, he emphasized the importance of partnerships between Japanese and Nigerian businesses, promoting technology transfer, knowledge sharing, joint product development, promoting continuous improvement, and economic diversification for Nigeria’s sustainable growth and prosperity. emphasized.
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