Ondo State is emerging as a thriving innovation hub.
The presence of the Federal University of Technology, Akure renowned for expertise in engineering, computer science, and IT has cultivated an environment that incubates a large pool of skilled professionals leading the innovation and infotech revolution in the country.
Ondo State provides an enabling environment for ICT ventures. The government has instituted policies and incentives to promote entrepreneurship and attract ICT investments. These measures include establishing tech hubs, providing tax incentives, and supporting the sector financially.
Ondo State is embarking on a high-speed fiber-optic networks and data centers project to connect major towns, institutions and facilities. The State is also supporting the growth of tech hubs, along with its ecosystem. The vision is to make Ondo State the destination for innovative start-ups.
RECENT DEVELOPMENTS IN INFORMATION AND COMMUNICATION TECHNOLOGY
- Development of a startup ecosystem: Through the Ondo State Office of Innovations and Partnerships, the government has created a startup ecosystem that supports the growth of innovative businesses. This includes providing access to funding, mentorship programs, and networking opportunities.
- Pipeline of investable startups: The Innovation House serves as a hub for startup incubation and acceleration programs. The government frequently collaborates with academia, the private sector, and development agencies to develop a pipeline of investable startups.
- The Innovation House in Ondo State presents an opportunity to attract investment in the form of venture capital. Venture capital is a type of funding provided to startups or early-stage companies that have high growth potential.
INVESTMENT OPPORTUNITIES IN ICT/TELECOMMUNICATIONS
Ondo State offers diverse ICT investment opportunities such as:
- Info-Tech University
- Digital Agriculture: Enhance agriculture with tech, focusing on precision farming, soil/weather monitoring, and supply chain management
- Software Development: Leverage a skilled talent pool for tailored software solutions across industries
- Data Analytics: Meet the demand for data analysts to extract insights from growing business data
- Cybersecurity: Develop cybersecurity solutions for protection against online threats
- Digital Transformation: Support businesses in going digital
- ICT Training: Provide skill-building programmes to nurture a tech-savvy workforce.
- Tech Hubs and Incubators: Foster start-ups with resources, mentorship, and funding.
- Space Exploration: Capitalize on FUTA’s space expertise for satellite tech, launch services, and space tourism.
- ICT Infrastructure: Improve broadband, fiber-optic networks, and data centers.
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