Telecom

Nigeria : Lagos State Governor establishes $700,000 fund for tech startups

Nigeria : Lagos State Governor establishes $700,000 fund for tech startups
Monday, 09 December 2019 18:57

Lagos State Governor, Babajide Sanwo-Olu, has established a 250 million naira ($689,531) fund dedicated to the development of tech solutions.

The fund is managed by the Lagos State Science Research and Innovation Council (LASRIC) and aligns with the Lagos innovation plan that was officially unveiled on December 5, 2019, at the opening of the first edition of the Art of Technology Lagos 1.0 which ended on December 6, 2019.

During this meeting, which brought together various stakeholders interested in ICTs, including policymakers, government officials, venture capital firms, software engineers/programmers, product developers, the Governor explained that the investment fund wants to finance technological innovations to find solutions to the many challenges facing Lagos State in several strategic areas: transport and traffic management, health and environment, education, security and good governance.

Babajide Sanwo-Olu stressed that artificial intelligence, including robotics, computing, and green energy, have the potential to transform Lagos into a true smart city. He explained that beyond LASRIC, the other axes of the Lagos Innovation Plan focus on the development of data access infrastructures, broadband, talent, the Lagos State Solution Centre, and the Open Government Initiative.

On the same topic
Vivo signed a financing agreement with Credit Direct to boost smartphone sales in Nigeria through installment payments. Customers will pay 20% upfront...
Morocco aims to connect 5.6 million households to fiber and achieve 85% 5G population coverage by 2030. Telecom operators plan to invest...
Ivory Coast increased the number of courts connected to its e-justice platform to 28. Authorities aim to standardize service speed and security across...
Nigeria's central bank and telecoms regulator signed an agreement giving financial institutions real-time visibility into mobile number...
Most Read
01

(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...

EBID makes giant strides for a green transition in west africa
02

Mahindra & Mahindra is considering a CKD assembly plant near Durban to strengthen its presence i...

Mahindra & Mahindra Eyes Major Shift to Full Vehicle Assembly in South Africa
03

AFC disbursed €43 million for Côte d’Ivoire solar project Financing supports 66 MW pla...

AFC Backs First Green Project Finance Bond for 66MW Côte d’Ivoire Solar Plant
04

Operators review 2025 investments, outline 2026 expansion plans Consumer complaints persist...

Cameroon Presses Telecom Operators on Service Quality as Complaints Rise
05

MTN Ghana launches crackdown on mobile money agent fraud Audits trigger warnings, suspensions...

MTN Ghana tightens controls on mobile money agents over fraud concerns
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.