Lagos State Allocates N1bn Seed Fund to Boost Startups
The Lagos State Government, under the leadership of Governor Babajide Sanwo-Olu, has allocated N1 billion as a seed fund for startups to the Lagos State Science, Research, and Innovation Council (LASRIC).
This announcement was made during the inauguration of the newly reconstituted LASRIC members in Lagos.
Governor Sanwo-Olu emphasized the state's commitment to fostering scientific innovation, positioning Lagos as a burgeoning hub for early-stage and unicorn startups.
He noted that Lagos's startup ecosystem has outpaced many other African cities and countries in success metrics, foreign direct investment, and the number of innovative solutions and patents.
