Amongst the innovative provisions of the Bill is the provision of training, capacity building, and talent development in Nigeria’s tech ecosystem.
Training capacity building and talent development in Nigeria for status is vital because it adds value to the country. It’s therefore to know what the Nigerian Start-Up bill has to say about this.
Section 21 of the Bill on training and capacity building places an obligation on the secretariat to come up with a training and capacity building program for startups, in line with the provisions of the Bill, and disseminate necessary information through the startup portal. It gives startups access to participate in training, facilitated by the industrial training fund and any organization, which partners with the secretariat, for training entrepreneurs and employees.
On talent development, Section 22 of the Bill provides for collaboration between the National Universities Commission, universities, and polytechnics within Nigeria to develop modules and programs and hold workshops aimed at impacting knowledge necessary for the establishment and running of a startup in Nigeria. The Bill provides for the establishment of centers for the acquisition of digital technology in the six geopolitical zones in Nigeria to promote digital technology utilization and strengthen digital technology management capability and information systems.
Furthermore, the Bill gives the secretariat permission to issue frameworks for the development of talent, and also collaborate with relevant agencies and the private sector to establish digital technology innovation parks and hubs in universities, polytechnics, and other institutions of higher learning.
Right now, we would explore how the start-up bill imposes a duty on the secretariat to support the activities of an academic research institution in the development of a startup.
How the Nigerian Start-Up Bill Supports Academic Institutions
The Nigerian start-up bill supports academic research institutions by
(a) creating links between a research institution, the private sector, the Federal Government, and other stakeholders in the startup ecosystem;
(b) Financing research systems for a startup;
(c) Providing financial support for the acquisition or establishment of research facilities to be utilized by a startup;
(d) Developing appropriate human resources and research capacity in the areas of science, technology, and innovation;
(e) Funding the cooperation and sharing of research information and knowledge, including supporting conferences, workshops, seminars, meetings, and other synopsis;
(f) Promoting the provision of information infrastructure linking research institutions to facilitate cooperation and sharing of research information and knowledge;
(g) Compiling and maintaining a national database of research and innovation; and
(h) Promoting the commercialization of the result of local research and development through startup incubation.
This is evidence that the Bill when passed will impact the youthful population in Nigeria and also be an enabler for capacity development.
An innovative law such as this has the ability to position Nigeria’s startup ecosystem as a leading digital technology hub in the whole of Africa as stated in the objectives of the Bill.
Other Informative Articles On Our Website You Might Like
- Legal Issues Facing Startups In The African Market
- Relevance Of Intellectual Property Protection For Your Business
- Analyzing The Start-Up Act 2022; Implications For Tech Startups
Do you seek redress or consultation on legal matters?
Our Law Firm – Scotts Legal – offers specialized law services in areas including but not limited to the following:
- Fraud
- Family Law
- Legal Advice
- Civil Litigation
- Domestic Violence
- International Trade
- Commercial Litigation
- Intellectual Property
- Mergers & Acquisitions
- Corporate Restructurings
- Energy & Natural Resources
Follow us on our social media handles:
Constantly get our news updates and informative articles.