Lagos approves N100m grant for start-ups and science research initiatives

Lagos approves N100m grant for start-ups and science research initiatives – The Lagos State government at the weekend 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.

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“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.

Explaining how transparent the judging process was, Special Adviser to the Governor on Innovation and Technology, Olatunbosun Alake, said it was highly competitive and out of hundreds of applications, 23 were selected to advance the cause of innovation and science research. Some of the notable innovation beneficiaries were “PricePally” a food aggregating platform, “DoCi-HealthCare”, “GiVo”, a circular economy company that offers recycling solutions on IOT devices. Research initiatives included; “Bioprospecting for anti COVID-19 remedies from indigenous medicinal plants” led by Abimbola Sowemimo at The African Centreof Excellence for Drug Research;”Development of Hydrogen Peroxide Biosensors for Detecting Post Harvest Deterioration and Preparation of Chitosan-Derived Materials for Cassava Shelf-life Elongation” led by Wesley Okiel at the University of Lagos and “The Production of Fortified Municipal Solid Waste Derived Compost (MSW-C) for Amending Soil to Improve Nutrient Release and Plant Growth” led by Akeem Abayomi at UNILAG. (Full list of beneficiaries available at lasric.lagosstate.gov.ng)

“These recipients today represent key research initiatives and innovative start-ups ready and qualified to be resourced for the development of Lagos, and indeed the world. Let us have no doubt that this event today is the first in many of this administration’s support and development of the science and technology ecosystem. In understanding and harnessing our environment, in solving our problems, in lifting people out of poverty, in advancing in knowledge, let us understand that today marks another milestone in the journey of a thousand miles. This here is tangible development,” he explained.

Similarly, LASRIC Chairman, Prof Oluwatoyin Ogundipe, noted that the event is a testimony of Mr. Governor’s commitment to the development of innovative thinking to solve our everyday problems. He added that the event also shows that there is ingenuity among Lagosians when provided the opportunity.

The high point of the event was the presentation of cheques to the awardees by the governor. The beneficiaries could not hide their joy, as they were full of praises to the government.

Aisha Raheem, co-founder, Farmz2U, a farm management platform, who received 5 million naira grant said “The process was rigorous, insightful. We went through interview process with Mrs. Solape, Mr. Tomi Davies and other mentors. It is great to have emerged a winner. It just gives me hope that there is more that can be achieved in Lagos State. I do hope that this is something that exponents across the country because truly innovation is how countries speed-track their developments. And I am confident that Lagos State is on track to achieve that.”

In the same vein, Luther Lawoyin, Founder/CEO at Pricepally.com; a digital food corporative platform who also received 5million naira grant said “It feels good to be part of this process. It is a fund for us to continue what we are doing. Importantly, it speaks to the fact that the state government recognizes the place of technology in tackling the numerous challenges in the society. Encouraging people in the technology circle means a lot and I hope they do more because funding is a big deal in this ecosystem. This kind of gesture from the government will have ripple effects.”