Sanwo-Olu launches N250m seed capital for tech start-ups, innovators

Lagos State Government has hosted its maiden Art of Technology (AOT) Conference where it launched the N250million seed capital earmarked for technology and innovation, tech start-ups and young innovators in the state. This according to the state government was to create an opportunity for tech start-ups and young innovators to push their entrepreneurial skills to […]

Lagos State Government has hosted its maiden Art of Technology (AOT) Conference where it launched the N250million seed capital earmarked for technology and innovation, tech start-ups and young innovators in the state.

This according to the state government was to create an opportunity for tech start-ups and young innovators to push their entrepreneurial skills to the next level.

Governor Babajide Sanwo-Olu also launched the Lagos State Science Research and Innovation Council (LASRIC) to be chaired by the Vice Chancellor of the University of Lagos (UNILAG), Professor Oluwatoyin Ogundipe while he set aside $687,000 start-up funds for investment in research and development of tech-focused solutions across the six pillars of his administration’s development agenda.

According to the governor, the innovation funds will be directed to support Information and Communication Technology (ICT) research focusing on solving issues of national significance; adding that the establishment of the Council and innovation funds officially begins the process of implementing strategies that would help in the realisation of the Smart City initiative of the State.

“Any society that wants to be reckoned with on the global stage must be grounded in the application of technology to growth and development. To further expand the opportunities, we are earmarking seed capital of N250million into Lagos State Science Research and Innovation Council to be accessed by tech entrepreneurs and software developers in innovation ecosystem to enable them create various solutions ranging from artificial intelligence to robotics, green energy and health informatics among others,” he said.

The AOT conference themed, ‘Bridging the gap’ had no fewer than 1,500 young innovators and tech solutions developers in attendance.