Lagos State Government has supported Twenty Three innovators and tech firms with a total grant of N100 million, to pursue technology-driven innovations across the six pillars of the development agenda of Babajide Sanwo-Olu administration.
The beneficiaries who were selected through highly competitive process overseen by the Lagos State Science Research and Innovation Council (LASRIC) established in 2019 by Governor Sanwo-Olu, with the mandate to facilitate and encourage the development of innovative solutions to solve local problems, using cutting-edge technology, are the first set to be picked to benefit from the N250 million seed capital earmarked, last year, as Research and Innovation Fund by the State Government.
Babajide Sanwo-Olu congratulated the successful awardees of the research funds, urging them to apply the grant judiciously and use it to transform their ideas into reality.
The Governor noted that his administration was born with the sole aim to solve contemporary challenges facing the State, stressing that the innovation grant was initiated with the objective to empower local innovators and thinkers with knowledge of context and peculiarities to create specific solutions for local challenges.
“Last December, we inaugurated the Research and Innovation Council with a seed fund of N250 million in demonstration of our commitment to transform Lagos into a 21st century digital economy and Smart City. The body has a mandate to facilitate investment in science research, innovation, and STEM education throughout the State, and to encourage the development of innovative solutions to problems, using cutting-edge technology.
“We are here today to match our words with action, by handing out grants from the LASRIC’s Research and Innovation Fund to successful applicants. I congratulate all awardees and beneficiaries of our very first set. As a Government, we believe in each and every applicant’s capacity to create and scale up ideas that can proffer solutions to our current challenges.
“We embarked on this unique project with the belief that local challenges are best solved by thinking that understands and appreciates local contexts and peculiarities. We believe in Lagos-supported solutions for Lagos-specific challenges. With the presentation of the grants, the responsibility now firmly rests on the recipients’ shoulders to justify the opportunity.”He said.
A beneficiary and founder of Price Pally, Luther Lawoyin, who received N5 million grant, praised the Governor for creating opportunities for tech startups to push forward their ideas. He said his business depended on data management, promising to invest the grant in improving food security.