February 8, 2023

Home Economy FEC Approves Buying of Tech Startups Solution

FEC Approves Buying of Tech Startups Solution

by Genesis Essien

CEM REPORT |The Federal Executive Council (FEC) have given approval to the Ministry of Communications and Digital Economy to buy tech startups solution in the country.

The National Information Technology Agency (NITDA) said it is working on modalities that will ensure the sale of tech startups solution without the usual bureaucratic processes associated with government’s contracts.

This is according to NITDA, Director-General, Kashifu Inuwa, at Co-Create 2022, organized by Gage Awards in Lagos.

He added that the approval by the FEC allows the Ministry of Communications and Digital Economy and its agencies to work closely with the startup ecosystem and develop means on how the government can procure solutions from startups.

“In the area of government procurement, we know that some of you are having challenges because of the bureaucratic processes involved. But the Federal Executive Council has approved that we should work with you to come up with a simpler process so that government can buy from you.”

“We have so many problems in Nigeria today which require innovative solutions. So, this kind of collaboration can open doors for that. And collaboration is very important because, in innovation, you cannot succeed in isolation; it is about the ecosystem. If you look around the world, innovation is not distributed evenly. It happens in clusters. Then what is so unique about those clusters? It is all about the ecosystem.”

Furthermore, he expressed the federal government commitment to creating enabling environment and policies that will further support the growth of startups in the country.

“The government as a key component of the ecosystem will continue to create the enabling environment and interventions in terms of policy and infrastructure. But you also need capital to grow. One of the major challenges we’re having in Nigeria is that every startup needs a seed fund from the government, and we know this is not possible. Government cannot provide seed funding for everyone, but we have people with money, and if you can convince them, they can invest in your startup,”

However, he stated that the first step will be NITDA inviting all startups in the country to showcase their solutions, in attendance of all government Ministries, Departments, and Agencies (MDAs) for selection of solutions that can meet their needs.

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The Convener of the Co-Create event, Johnson Anorh, speaking mention that event Co-Create 2022 was the maiden edition of the Gage Awards Tech Expo aimed at showcasing innovative businesses and individuals with solutions that make life simpler and better.

“This year’s International Tech Expo is themed ‘Collaborative Innovations for a Better Tomorrow,’ and we are celebrating the process of collaboration that has influenced the most solutions. Through collaborations, technology has solved some of the most complex problems faced by humanity,”

The two-day event, which opened at the Landmark Event Centre in Lagos yesterday, June 9th, 2022, had in attendance young innovators and startup founders from different sectors such as fintech, edtechs, among others.

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