23 Nigerian tech start-ups and science research initiatives from various universities within Lagos State have been awarded with a total grant of N100 million by the state government, the country’s commercial nerve centre.
The grant is part of the six pillars of the development agenda of Governor Babajide Sanwo-Olu administration which includes fuelling technology-driven innovations to transform Lagos into a 21st-century digital economy and Smart City.
During the maiden edition of Art of Technology (AOT Lagos 1.0) on 5th December 2019, Mr. Governor announced a N250 million grant for science and technology-related ideas and initiatives; today, it is a reality. The beneficiaries of LASRIC Grant are innovating and solving problems in the area of food security, manufacturing, health management and COVID-19 alleviation, and they are the first set to be picked to benefit from the N250 million seed fund earmarked, last year, as Research and Innovation Fund by the state government
The fund is under the care of the Lagos State Science Research and Innovation Council (LASRIC), an agency established with the mandate to facilitate and encourage the development of innovative solutions to solve local problems, using cutting-edge technology. The fund is specifically set up to resource innovation, science and technology ecosystem.
Congratulating the recipients of the grant, Babajide Sanwo-Olu, Governor of Lagos State said the initiative aligns with his administration’s vision in turning the state into a technology hub and therefore urged the recipients to use the grant judiciously.
“In December 2019seven months into the tenure of this administration, we inaugurated the Lagos State Science Research and Innovation Council (LASRIC) with a seed fund of 250 million naira, in demonstration of our commitment to developing Lagos into a 21st-century digital economy and Smart City.