The Lagos State government has awarded N100 million grant to start-ups and science research initiatives from various universities within the state.
The grant is part of the six pillars of the development agenda of the Babajide Sanwo-Olu administration, which includes fuelling technology-driven innovations to transform Lagos into a 21st century digital economy and smart city.
Sanwo-Olu said the initiative aligned with his administration’s vision of turning the state into a technology hub and, therefore, urged the recipients to use the grant judiciously.
“In December 2019, seven months into the tenure of this administration, we inaugurated LASRIC with a seed fund of N250 million, in demonstration of our commitment to develop Lagos into a 21st century digital economy and Smart City.
“You are all aware of the T.H.E.M.E.S agenda of our administration, which sets out the vision for the work that this administration has been elected to do on behalf of the people of Lagos State. The first ‘E’, and the ‘M’ represent ‘Education and Technology’, and ‘Making Lagos a 21st Century Economy’, the twin elements that underpin the work of the Lagos State Research and Innovation Council,” he said.
During the maiden edition of Art of Technology (AOT Lagos 1.0) last year, the governor had unveiled a N250 million grant for science and technology-related ideas and initiatives; today, it is a reality.
The beneficiaries of the Lagos State Science Research and Innovation Council (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 seed fund earmarked, last year, as Research and Innovation Fund by the government.
The fund is under the care of the LASRIC, an agency 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.
He added that science and technology remain key enablers to transform the socio-economic and his administration is on course to delivering good governance and bettering live of Lagosians.
“Here in Lagos State, we are on the journey of properly identifying, resourcing, enabling and building the great human potential of Lagos State. Flagship projects such as the Metro fibre and the Smart City initiative are key enablers for achieving this. We are also working to transforming our Civil Service by encouraging innovative thinking and deploying technology tools and processes. LASRIC, and all of you its beneficiaries, are positioned to be a vital part of this important journey,” he said.
He urged unsuccessful applicants not to lose hope, advising them to re-apply for the grant in the next round of selection. He said the state government would be increasing the grant to accommodate more innovators in the subsequent application.