Senegal Sets Up Fund to Support AI Adoption by Startups

By : Isaac K. Kassouwi

Date : mardi, 15 octobre 2024 09:14

The Senegalese government is embracing artificial intelligence as a powerful tool for driving development across all sectors. As part of its strategy, the government is exploring the establishment of a dedicated AI computing center, along with other initiatives.

The Senegalese Ministry of Communication, Telecommunications, and Digital Economy, in partnership with the French Embassy and AI HUB Senegal, has launched a seed fund of 59 million CFA francs (approximately $98,222) to support the development of artificial intelligence (AI)-based solutions. The call for applications, unveiled on Saturday, October 12, is open until Tuesday, October 15.

As part of this initiative, grants ranging from €5,000 ($5,466) to €10,000 will be awarded to Senegalese entrepreneurs across various sectors. These include agriculture, education, energy, e-commerce, finance, healthcare, business services, transportation, and more.

In the application form, entrepreneurs are asked to explain how their solutions stand out from those already available on the market. "This could involve aspects such as the use of advanced technologies, a novel approach to solving a problem, an innovative production or service delivery method, or significant added value that addresses an unmet need."

This initiative aligns with ongoing efforts by the Senegalese government to accelerate the development of artificial intelligence. For example, the government is considering building an AI computing center in partnership with U.S. tech giant Meta. This project, discussed in September during the 79th United Nations General Assembly, fits within Senegal’s new digital transformation strategy, SN 2034, known as the "Technological New Deal." Through the fourth pillar of this strategy, the government aims to create a conducive environment for technological innovation and entrepreneurship.

According to a study from the *International Journal of Science and Research Archive*, the integration of AI technologies allows small and medium-sized enterprises to leverage data for informed decision-making, enhance operational efficiency, and tailor customer experiences. In agriculture, for example, the Global System for Mobile Communications Association (GSMA) notes that "AI tools can provide real-time data, perform predictive analytics, and execute algorithms to optimize farming practices, improve crop yields, enhance product quality, facilitate access to markets and credit, and reduce production costs."

Isaac K. Kassouwi

TECH STARS

Please publish modules in offcanvas position.