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
The announced reforms are pivotal in expanding affordable connectivity, building a future-ready digital workforce, and establishing Ghana as a frontrunner...
When fully operational, SEA-ME-WE-6 is expected to significantly improve internet connectivity and resilience across participating regions, enhance data...
As cybersecurity asserts itself as a pillar of digital sovereignty in West Africa, technology-free zones are taking on a strategic role in safeguarding...
As a new generation of African creators increasingly works to assert narratives rooted in their own cultures, the expansion strategies of global...
Most Read
01

• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...

Coffee: Global Consumption Expected to Reach Record Level in 2025/2026
02

• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...

Algeria Awards Commercial 5G Licenses
03

• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...

Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
04

• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to b...

William Ruto in London: New Agreement Aims to Double Kenya-UK Trade by 2030
05

• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...

IFC Plans Investment Fund to Help Grow African Film Industry
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

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

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.