Section 10 Nigeria Startup Act
Section 10 Nigeria Startup Act 2022 is about Startup Support and Engagement Portal. It is under Part III (Operational Structure of the Council) of the Act.
(1) The Secretariat, with the approval of the Council, shall establish a Startup Support and Engagement Portal (in this Act referred to as “the Startup Portal”) which shall serve as a platform through which a startup conducts registration process with relevant MDAs.
(2) The Startup Portal shall —
(a) facilitate the issuance of a permit or licence to a labelled startup ;
(b) provide platform for interaction between a startup and the Federal Government, private institutions, angel investors, venture capitalists, incubators, accelerators and other relevant institutions ;
(c) create opportunities for a startup to participate in beneficial challenges and programmes including, incubation and accelerator programmes, showcases, pitch competitions, fellowships, and other related programmes ;
(d) foster access of a startup to finance, information, innovation, and the global market ;
(e) foster information exchange between various stakeholders in the Nigerian startup ecosystem ;
(f ) provide access to tools and resources to a startup ;
(g) provide assistance to a startup labelled under this Act ;
(h) provide information on clearances, approvals and registration requirements by a startup ;
(i) provide opportunities for a startup to enter into contracts with the Federal Government, through public procurement or other engagement processes ;
(j) receive complaints and recommendations from industry stakeholders and the general public ;
(k) serve as a platform for announcement and application of various schemes and incentives granted to a startup by the Federal Government ; and
(l) discharge other duties, as may be required by the Council or the Secretariat.
