Section 40 Nigeria Startup Act

Section 40 Nigeria Startup Act 2022 is about Establishment of clusters, hubs and innovation parks. It is under Part X (Clusters, Hubs, Innovation Parks and Technology Development Zones) of the Act.

(1) The Council shall issue a framework for the establishment and operation of startup innovation clusters, hubs, physical and virtual innovation parks in each state of the Federation.

(2) The role of the innovation clusters, hubs and parks shall include —
(a) connecting, fostering collaboration and generating businesses between a startup and a large company;
(b) collating expertise, ideas, and perspectives ;
(c) providing a startup with access to resources and professional services ; and
(d) promoting collaboration and innovation between startups.