Abia Moves to Adopt Nigeria Start-up Act for Tech-Driven Companies

As part of effort towards adopting the Nigeria Startup Act, Abia State Government, Thursday, engaged stakeholders to review the Abia State Startup Act Draft document.

The event, held at Hotel Royal Damgrete, Umuahia, was at the instance of the State Ministry of Science, Technology and Innovations.

In his address, the Commissioner for Science, Technology and Innovations
Dr. David Kalu pointed out gathering together of stakeholders was necessary to look at the Act and make sure that everybody’s voice is heard very well.

Dr. Kalu said that engagement was expected to come up with an act that would “support, promote and push forward entrepreneurs using technology in Abia to develop applications that would support our future.”

“I like to say thank you and I hope you will give us your full support and commitment to putting your views forward for this act,” he stated.

The Commissioner, while noting that Abia is known for trade and agriculture and is greatly gifted with strong entrepreneurial skills, applauded Governor Alex Otti for his interest in harnessing the skills.

He added that: “We are now getting technology, and so there is a marriage of our entrepreneurial skills with the technology to underline this marriage.

” I think we need in place a very strong legal framework that can support this relationship. That is why it is very important that we have this act,” Mr. Kalu noted.

He assured that Abia state government would set up a fund for the technology driven Startups and manage it to encourage Abia business ecosystem.

Also, the CEO, Abia SME Microfinance Bank, Mr. Chimereze Okeigbo disclosed that Abia State Government signed an MoU with Bank of Industry (BoI) that has a N10 billion matching fund in it.

Okeigbo pointed out that the fund is meant to support small businesses and encouraged participants that are about to begin their Start Up or have existing ones to ensure they get the fund.

“Also the document they are going to come up with is a policy document that is going to drive how technology is being managed in the state

They need to look at the process, and the criteria for qualifying for the fund and seeks for ways to partner government,” he said.

Also Speaking, the Permanent Secretary Ministry of Science, Technology and Innovations Engr. Mrs Justina Ebo and the Special Assistant to the Governor on Digital Economy, Miss Chibuzor Chijioke expressed government’s commitment to adopting the State Start-up Act for the growth of the technology driven businesses in the State.

In her speech, the State Adoption Lead of the Nigeria Startup Act, Mrs Tracy Okoro-Isaac said the stakeholders engagement was important to ensure that the Start-up Act which has been created at the national level is brought down to the state level.

“Why do we need Abia State to adopt the act is that there is nowhere called federal government state which means that young people are in our State and so we need state like Abia to co-create an environment using the instrument like the act to make sure that the young people who are running tech-enabled companies have an opportunity and a chance to build something and create a silicon valley for themselves.”

In their reactions, some participants including the board chair of Abia Technology and Innovation Network, Mr. Daniel Chinagozi, Mr. Anya Peter described the meeting as a dream come true and appreciated the fact that the state has taken it upin itself to ensure that the Startup Act is adopted in Abia State.

They appreciated Governor Alex Otti for the initiative which would boost technology and innovation in the state.