Ondo moves to domesticate FG’s Startup Act

Ondo State Government, has reiterated its readiness towards adopting and domesticating the Federal Government’s Startup Act 2022 in the state.

Olumbe Akinkugbe, the Chairman of Ondo State Information Technology Agency (SITA), who disclosed this at a ecosystem engagement on the adoption of the Nigeria Startup Act in Akure, the state capital, therefore, said the Startup Act would generate employment opportunities and jobs for Nigerians, especially youths in the state and urged the young one to key into the scheme.

According to him, 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.

Akinkugbe said, “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 institutionalize 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 sect up a business in the state.”

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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 on the 19th of October, 2022.

The law aims to support and promote innovation and entrepreneurship in Nigeria, particularly addressing youth unemployment.

Also speaking on the essence of the ecosystem engagement, 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 untill 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 state 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.

“We have gathered people from different government sectors and organisations for this important purpose because we need their support and collaboration and once we finished this engagement we will work straight with Attorney General of the state to produce the draft bill that this ecosystem be passed into the law.”