Algorand Reaffirms Commitment to Empowering Nigerian Blockchain Startups

Kayode Tokede  

The Algorand Foundation has reiterated its dedication to supporting the Nigerian startup, tech, and developer ecosystems.

This year,  the global organization supporting growth and adoption of the Algorand blockchain will expand its series of events, which include both professional education on blockchain as well as hackathons and workshops for startups and founders.

Nigeria is home to several successful startups and tech companies across fintech, AI, agritech, and more. In 2022, Disrupt Africa reported nearly 500 tech startups were operating in the country (source).

Algorand has launched several initiatives and collaborations to help strengthen the Nigerian ecosystem even further, aiming to provide education and other resources for founders and developers interested in blockchain and web3 technologies.

Country Head of Nigeria at the Algorand Foundation, Benjamin Onuoha in a statement said,  “We are organizing events aimed at fostering digital literacy and blockchain expertise, especially among Nigerian youths.

“These events drive innovation by challenging participants to learn and develop blockchain solutions, offering mentorship, resources, and workshops. Winning teams often receive funding and support to scale their projects, connecting them with investors and accelerators.”

Onuoha highlighted the impact of these initiatives, saying, “The top three Nigerian startups from Algorand’s Global Hackathon in 2023 received up to $95,000 in cash prizes and Amazon infrastructure credits to support the development and deployment of their solutions. Beyond funding, we also have programs that provide platforms for startups to showcase their projects and pitch to potential investors.”