Lagos presents N250m seed cheque for Tech Start-Up

Lagos State Governor, Mr Babajide Sanwo-Olu, on Friday presented a seed fund of N250million to the State Science Research and Innovation Council (LASRIC) as part of plans to make Lagos a hub for innovation and technology.

LASRIC is an institution in charge of research with the responsibility of boosting innovation and technology in the state and it presently has a 16-Man team headed by the Vice-Chancellor of the University of Lagos, Professor Toyin Ogundipe.

Sanwo-Olu, during the presentation of the cheque at the Government House in Alausa, charged the committee to ensure that the criteria to access the fund was flexible enough for Lagosians to benefit from.

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He noted that the state government had already put into action what it believed in, charging the institution to ensure that in the next six months, the government begins “to see a litmus test that people have been supported through this fund.”

“We can’t do it alone, ours is just a SEED fund. Some of you have access to international donors and partners that will want to see the level of our seriousness and commitment; I want us to put in serious effort so that others will be willing to support us.

“We need innovative solutions. We can think global but we have to act locally. Let us think about solutions that are peculiar to us as Lagosians and Nigerians and you will be amazed that we have great skills that lack people to bring them out,” the governor said.

Speaking earlier, Chairman of the Council, Professor Toyin Ogundipe, noted that the institution would partner with several non-governmental organisations for the benefit of Lagos State.

“Any country that is doing well, there is research backing it up. What we are doing today is to refocus concerning Lagos State.

“What we have done is around the T.H.E.M.E.S agenda that the governor has for Lagos State for the pronouncement to be very clear. We are going to make sure that we promote STEM in the primary and secondary school level for a start.

“We want to get the database of all researchers in Lagos, not only in higher institutions but in companies and other organisations in Lagos. We are going to have a multi-disciplinary research collaboration between the institution and the companies and it will attend to the needs of Lagos State,” he said.

The event was attended by the Lagos State deputy governor, Dr Obafemi Hamzat; the Commissioner for Science and Technology, Dr Hakeem Fahm; Special Adviser on Innovation and Technology, Mr Tunbosun Alake, among others.