The Lagos State Science, Research & Innovation Council (LASRIC) has been endowed with NGN1 billion (US$660,000) to back local tech startups.
The new LASRIC fund will foster innovation and research, and boost Lagos’s reputation as the home to many promising early-stage and unicorn startups.
Governor Babajide Sanwo-Olu said the LASRIC Council had been convened with a “stellar team”, and a renewed commitment to enhancing the state’s educational capacity.
“We firmly believe that the evaluation needed for this economy will require significant investment in science, innovation, and technology. Therefore, at the reconstruction of this body today, I want to emphasise the key areas that we should focus on,” he said.
