The Lagos State Employment Trust Fund (LSETF) and the Lagos State government are joined forces to launch “Lagos Innovates”. This is a set of programs which is aimed at making it easier to build a successful tech startup in Lagos, one thing that a lot of people have longed for in the country’s commercial capital.
According to the website, Lagos Innovates which was launched on Monday is designed to help the very best founders and startups by facilitating access to four things: (1) high quality workspaces and infrastructure, (2) learning, (3) early stage investment capital and (4) investor and peer networks.
The listed programs are open to all innovation-driven enterprises that are less than three years old and based in Lagos.
Speaking at the launch, Executive Secretary, LSETF, Mr. Akintunde Oyebode, said that additional programmes which would include, a scale-up accelerator program, a co-investment scheme, and a second, learning-focused, voucher scheme, would follow in the first quarter of 2018.
He went further to say that, “Lagos has perhaps the most exciting startup ecosystem of any city in Africa”. According to him, the investment case is clear, and driven primarily by the size of the market and accessibility as an entry-point for Nigeria and a springboard for the rest of West Africa.
“If we get our model for innovation-driven enterprises right, Lagos State has the potential to exponentially increase opportunities and jobs for its residents in the medium – to long-term. This is the right government to execute on Lagos Innovates and the broader vision of a thriving startup ecosystem.”
