By Aduragbemi Omiyale

A leading global venture capital firm, Accel, has expanded its pre-seed scaling programme with Accel Atoms AI and Accel Atoms X.

In a statement made available to Business Post, the firm said startup founders of India extraction in the Artificial Intelligence (AI) ecosystem have the opportunity to receive funding support of up to $1 million in equity or convertible notes.

In addition, selected startups in the AI program could access perks worth more than $5 million from Accel’s network partners, and personalized mentorship.

The Accel Atoms AI program seeks visionary Indian-origin founders based anywhere in the world who are using AI for business applications or building foundational tools for the AI ecosystem.

The program welcomes startups working across the AI stack—from foundational models (like small language models on the edge, video/robotics data, etc.) to infrastructure (testing tools, securing LLM systems) and applications (core AI models and agents).

“We’re seeing a fundamental shift where Indian founders in AI are moving to global markets earlier than ever before, to be closer to their first customers.

“These founders understand that while AI is borderless, execution isn’t. They’re building from day zero with global ambition, but they need the right support system to navigate cross-border complexities. That’s what we’re providing through Accel Atoms – the ability to build and iterate with the backing of capital, mentorship, and infrastructure without being constrained by geography,” a Partner at Accel, Prayank Swaroop, said.

Another partner, Anand Daniel, noted that, “Indian and Indian-origin founders are right at the center of the inflection point in AI.

“The success of companies like Ema and Bridgetown Research shows us that founders tapping into the cross-border advantage – building what customers want, with great speed, and while tapping into the breadth and depth of India’s talent pool – can beat global competition by a significant margin.”

The Accel Atoms X is a new track for breakthrough innovation led by a Partner at Accel, Pratik Agarwal.

The program focuses on LeapTech innovations that radically improve the human experience through novel products, technologies, or business models. These ideas often require long development cycles, deep conviction, and non-linear thinking.

“LeapTech ideas often take years of iteration before product-market fit is clear—but their ability to fundamentally reshape how we live or build is unmistakable.

“With Atoms X, we’re moving beyond the traditional cohort model to back founders right at the inception whether they’re still refining the idea or pre-revenue. Our goal is to offer early conviction and a deeply supportive ecosystem from day zero,” Agarwal stated.

Since its launch in 2021, Accel Atoms has backed over 40 early-stage startups across sectors, many of which have gone on to raise significant follow-on funding and build category-defining businesses.

By Adedapo Adesanya

The federal government has announced plans to establish a National Design and Development Agency to help innovators refine their concepts, secure funding, and access markets.

The Minister of Education, Mr Tunji Alausa, disclosed this during a visit to Innov8 Hub in Abuja on Monday, noting that the agency will help bridge the gap between local innovation and commercial success by supporting inventors, start-ups, and small-scale manufacturers across the country.

Mr Alausa reiterated President Bola Tinubu’s commitment to creating an enabling environment for innovation, noting that the government would continue investing in human capital and entrepreneurial development to secure Nigeria’s future.

He noted that although Nigerians rank among the most creative and talented people globally, many struggle to transform ideas into market-ready products.

“There are so many innovative Nigerians. Our job as government is to meet you halfway and give you the opportunity you need to unleash that potential,” he said.

“We want to move ideas from the bank of concepts to the market,” he said.

Mr Alausa said the new agency would provide a platform for community-informed financing, enabling innovators to submit their ideas for support.

While acknowledging that only a fraction of innovation projects succeed commercially, he stressed that even five to 10 per cent of viable ideas could transform millions of lives.

“Five to ten per cent of ideas, when brought to life, can change millions of lives. What you’re doing here is even more important, you’re focusing on real-life solutions we urgently need,” he said.

The minister also advised innovators to patent their products, stressing the importance of intellectual property and market readiness.

“You need to aggressively move these products to the market, there are unlimited opportunities in Nigeria waiting to be tapped,” he added.

He commended Innov8 Hub for its work in agricultural processing and small-scale manufacturing and urged stronger collaboration between innovators, manufacturers, and financiers to ensure broader market access.

As Africa’s payments ecosystem continues to evolve, contactless technology is emerging as a critical driver of speed, security, and convenience for both consumers and merchants. Leading this transformation is Verve, Africa’s foremost domestic payment card and digital token brand, which is accelerating adoption through its rapidly growing network of contactless solutions.

With over 30 million Verve contactless cards issued to date, the company has made remarkable progress in simplifying everyday payments. Whether at supermarkets, fuel stations, airport terminals, or restaurants, Verve’s contactless cards are enabling faster, more secure transactions across Nigeria and other key African markets.

A standout feature of Verve’s offering is its extensive acceptance footprint. Today, the contactless cards are accepted at about 90% of payment terminals across retail outlets nationwide. This high level of integration not only enhances user convenience but also reflects the strength of Verve’s merchant network and its strategic partnerships with financial institutions and fintech providers.

Verve’s Tap-and-Go solution is engineered to streamline the payment experience while maintaining rigorous security standards. Every transaction is powered in compliance with global security protocols and offering users both protection and ease of use.

The company’s investment in contactless infrastructure is guided by a clear strategy: to reduce payment friction and enhance transaction speed, without compromising security. This includes close collaboration with banks, fintechs, and merchants to enable seamless integration and consistent service delivery across the payment value chain.

In a region where terminal inefficiencies and payment delays can impact business performance, Verve’s approach is already creating measurable value. For merchants, shorter queues and increased transaction throughput improve customer service and operational efficiency. For consumers, faster payments enhance satisfaction and build trust in digital payment channels.

What sets Verve apart is its thoughtful adaptation of technology to local market realities. For example, the requirement for PIN verification after tapping adds an extra layer of security, addressing consumer concerns around fraud and unauthorised transactions. This localization of global standards reflects Verve’s commitment to innovation that is both secure and contextually relevant

Industry analysts project sustained growth in contactless adoption across Africa, driven by mobile-first populations that increasingly demand fast, secure, and reliable transaction experiences. Verve’s early leadership in this space firmly positions it as a key enabler in Africa’s payment transformation journey.

As the company scales its infrastructure and deepens strategic partnerships across markets, Verve remains focused on delivering seamless, secure, and inclusive payment solutions, meeting the rising demand for digital financial services across the continent.

This contactless push is part of a broader innovation strategy, as Verve continues to invest in customer-centric technologies that align with global best practices while addressing the unique needs of African markets.