Section 9 Nigeria Startup Act
Section 9 Nigeria Startup Act 2022 is about Secretariat of the Council. It is under Part III (Operational Structure of the Council) of the Act.
(1) The National Information Technology Development Agency shall serve as the Secretariat of the Council (in this Act referred to as “the Secretariat”), and the Director-General of the National Information Technology Development Agency shall serve as its Head.
(2) The Secretariat shall —
(a) manage the process of labelling a startup, as provided under this Act ;
(b) establish public online platforms and other platforms to provide access to information on matters pertaining to the establishment and development of a startup, incubation, acceleration and venture building programmes, access to fiscal and non-fiscal support ;
(c) collaborate with relevant MDAs and other stakeholders to promote innovation in digital technology, and enterprise development for a startup in Nigeria ;
(d) ensure that the National Digital Innovation, Entrepreneurship and Startup Policy (NDIESP) of the Secretariat is implemented for the development of the startup ecosystem ;
(e) enter into partnerships with local and international business incubators, accelerators and digital innovation hubs to promote the establishment and growth of a startup in Nigeria, subject to the approval of the Council ;
(f) maintain a directory of startups, incubators, and accelerators ;
(g) support research and development activities relating to digital technology innovation undertaken by a startup ;
(h) support the growth and expansion of private sector-led incubator and accelerator programmes ;
(i) support the growth and promote the commercialisation of local research and development on digital innovation by startups ;
(j) develop mechanisms for pre-incubation of entities and, provide training and capacity building programmes for a startup ;
(k) develop, establish, support and incentivise digital technology innovation hubs, digital technology parks and community enterprise hubs in Nigeria ;
(l) develop, implement, and monitor guidelines for setting up digital technology innovation hubs, digital technology parks and community enterprise hubs in Nigeria ;
(m) foster synergy between startups and angel investors, venture capitalists, private equity firms, private investors, development finance institutions, global asset management firms, financial institutions,
research institutions and other related institutions at the national and international level ;
(n) enter into partnerships to promote startup development with angel investors, venture capital firms, private equity firms, development financial institutions, and other relevant funding organisations ;
(o) review proposals, policies and programmes addressed to the Council ;
(p) collaborate with the National Universities Commission, National Board for Technical Education and other tertiary institutions regulatory bodies, to provide adequate facilities for research, and promote multi-disciplinary collaboration among universities, polytechnics, and research institutions ;
(q) advise the Council on issues affecting startups and digital technology innovation entrepreneurship in Nigeria, and matters connected with the implementation of this Act ; and
(r) discharge other duties, as may be required by the Council.
