The Ekiti State Government has approved the creation of a N100 million Innovation Enterprise Support Fund aimed at fostering digital innovation and entrepreneurship. The initiative is designed to empower tech innovators and startups, bolstering the state’s digital economy.
Announcing the decision, Commissioner for Information Taiwo Olatunbosun stated that the fund will provide essential resources, mentorship, and support to help startups grow. “This fund will empower technology innovators and startups to thrive in the digital economy and significantly contribute to Ekiti’s economic development,” Olatunbosun said.
The beneficiaries of the program will include cwith particular focus on businesses innovating within the digital economy. The support will cover incubation and acceleration processes, providing startups with access to mentorship, investors, and other resources crucial for their development.
According to Olatunbosun, “Beneficiaries will receive tailored support to enhance their capacities, enabling them to scale their innovations, access vital tools, and receive professional guidance.”
This move aligns with Governor Biodun Oyebanji’s administration’s commitment to boosting growth in the digital and innovation sectors, which are key for job creation and long-term economic sustainability.
In addition to the fund, the State Executive Council has approved a revised Information and Communication Technology (ICT) Policy, which was last updated in 2013. Olatunbosun highlighted that the revision was necessary to reflect current technological advancements and align with the government’s six-point agenda.
The updated ICT policy aims to improve service delivery, promote innovation, enhance data security and privacy, foster digital skills and literacy, and ensure interoperability of software systems across the state.
This initiative marks a significant step toward positioning Ekiti as a hub for digital innovation and entrepreneurship in Africa.
