• Sunday, March 03, 2024
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Ondo moves to domesticate FG’s Startup Act for job opportunities

Nigerian startups 2023 shutdown costs investors $79m

The Ondo State government has reiterated its readiness towards adopting and domesticating the Federal Government’s Startup Act 2022 in the state for better management of the youths’ valued ideas and innovations.

Olumbe Akinkugbe, the chairman of Ondo State Information Technology Agency (SITA), who stated this at an ecosystem engagement on the adoption of the Nigeria Startup Act in Akure, the state capital, said the Startup Act would generate employment opportunities for Nigerians, especially youths in the State.

While urging the young ones to key into the scheme, Akinkungbe noted that the Act would contribute to the creation of an enabling- environment for growth, attraction and protection of investment in tech startups across the 18 local government areas of the state.

“There is no doubt that it is going to have impact extremely well on the communities and Ondo State as a state in all. We have already taken certain initiative towards encouraging entrepreneurs within the state.

“Now what this one will do is to create formal such of arrangement and institutionalise the issue of technology growths among our entrepreneurs in the state.

“We hope that the Ondo state House of Assembly will be able to give it a positive feedback as to timeline after this engagement. Besides, it would also help people to set up a business in the state”, he said.

Recall that the Nigerian Startup Act, also known as the Nigerian Innovation and Entrepreneurship Act, was recently passed by the National Assembly and signed into law by President Muhammadu Buhari, and will support and promote innovation and entrepreneurship in Nigeria, particularly addressing the youths’ unemployment.

Also, Trace Okoro Isaac, the State Adoption Lead of the Nigeria Startup Act, said, “is to create enabling environment for tech companies to thrive and this because we understand that the entrepreneurs are the one that will provide economy prosperity for the nation.

“The Ondo State ecosystem engagement is the one among the series of our state engagement that we have been doing since we started our ecosystem engagement and the idea behind it is that the state adoption secretariat understand that we run a Federal System of Government and since the October 2022 when the President signed the Act.

“The implementation and process has started but until state adopt the startup act they would not be able to fully enjoy the benefit of technology ways that has been coming into the country.

“So, we are here to speak about the Act, and make an argument why the state should work with us, that at the end of the day tech companies in Ondo state are able to support and find solution to the economic prosperity in Ondo state.

“It is a law that at the end of the day we want it to be passed into law, which we believe that technology companies in Ondo will now have the backing to access things like funding, digital training for them to be able to compete with their mate all over the country.