Soludo unveils N80m startup fund for Anambra youths

The Anambra State Government has unveiled an N80 million startup fund for 80 emerging businesses and graduated 400 youths in specialised technology skills as part of efforts to deepen the state’s digital economy and position it as a leading innovation hub.

The initiative, which covers startup financing, digital skills development and broadband infrastructure expansion, was unveiled at the Anambra Startup Investment and Technology Skills Graduation Ceremony held at the Banquet Hall of the Light House in Awka.

According to a statement issued by the state government on Friday, the N80 million fund was disbursed through the Solution Innovation District, with each of the 80 startups receiving N1 million after completing a 12-week incubation programme.

Governor Chukwuma Soludo said the investment formed part of his administration’s commitment to transforming Anambra into “Africa’s Silicon Valley” by equipping young people with skills and resources needed to thrive in the global digital economy.

“Our administration is committed to transforming Anambra into Africa’s Silicon Valley. This vision is driven not by politics but by a clear and strategic imperative to secure the future of our state and its people,” Soludo said.

He said initiatives such as the 1 Million Anambra Digital Tribe programme and the Anambra Startup Incubation Programme were designed to prepare youths for opportunities created by technological advancement and the evolving global economy.

The governor urged the startup founders and technology graduates to use the skills and funding to build sustainable businesses capable of creating jobs and contributing to the state’s economy.

The statement said the government also graduated 400 technology professionals, including 300 trained in robotics and embedded systems and 100 who completed a network engineering programme.

Chief Executive Officer of the Solution Innovation District and Special Adviser to the Governor on Innovation and Business Incubation, Chinwe Okoli, said the startup beneficiaries underwent training in business development, market validation, customer discovery, financial planning and investor readiness before receiving the grants.

She described the initiative as one of the largest state-backed startup funding programmes conducted in a single day in Nigeria.

Okoli said more than 111 startups had benefited from the district’s incubation and acceleration programmes, while the 1 Million Anambra Digital Tribe initiative had reached 264,000 beneficiaries and remained on course to train one million residents by 2030.

She added that the robotics graduates were trained across eight cohorts in embedded systems, automation, sensor programming and other Fourth Industrial Revolution technologies.

According to her, the 100 participants in the ISP Network Engineering Programme, organised in partnership with Connekt Broadband, acquired practical skills in fibre optic installation, broadband infrastructure deployment, wireless networking and internet service operations.

In a related development, the Chief Executive Officer of Connekt Broadband, Ifeanyi Adirika, announced a N1 billion Connectivity Fund to expand broadband access across Anambra’s 21 local government areas.

Adirika said the initiative would improve internet connectivity in schools, hospitals, markets and other public institutions while creating employment opportunities for graduates of the network engineering programme.

He added that some of the newly trained engineers would serve as deployment partners and sub-licensees as the company expands broadband infrastructure across the state.

Okoli also said the graduates would support the state’s ongoing 2,000-kilometre fibre optic rollout, particularly in extending connectivity to underserved communities.

She disclosed that the former Government House, now housing the Solution Innovation District, was being developed into a permanent technology campus, with new facilities expected to be commissioned soon.

According to her, Connekt Broadband has secured space within the proposed campus and plans to establish a business process outsourcing centre to create additional jobs for technology graduates.