Nigeria, Israel create $300,000 innovation fellowship to pull investors to economy

THE NIGERIAN INVEST MENT PROMOTION COMMISSION NIPC AND THE ISRAELI EM BASSY in Nigeria have established a $300,000 innovation fellowship in Abuja to enhance the exploration of all viable options that can attract, grow and position Africa’s largest economy as a destination of choice for investors.

Emeka Offor, executive secretary of the commission stated this during a courtesy visit to the Israeli Embassy in Abuja, ahead of the upcoming innovation fellowship for aspiring investors and researchers (i-FAIR), scheduled to hold on December 7, 2021 at the Skill G Innovation Center, Abuja.

Offor noted that Nigeria has the highest number of startups in Africa and possesses a dominant force in the tech space, but falls short on critical elements that help startups to thrive beyond their establishments.

According to him, critical elements such as digital infrastructure and lack of investment require investors’ engagements and start-up support which is being addressed by NIPC with the support of the Israeli government through the i-FAIR programme, an initiative created through a partnership between the

Embassy of Israel’s Skill G Innovative Center and the Nigerian government.

“It is our hope that the spread gets wider and we will create awareness of the facility across our development partners, ” he added.

The NIPC executive secretary further disclosed that the initiative targets five focus areas including; agriculture & food technology to enhance food security, renewable energy/environmental management, medical devices/simulation, and social responsibility/solutions for personal responsibilities.

On his part, Yotam Kreiman, the deputy chief of mission and consul of the State of Israel in Nigeria, explained that the i-FAIR programme was created to provide a platform for Nigerian innovators to unleash and channel their creativity into smart solutions, products and prototypes.