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LSETF Launches ‘Lagos Innovates’ for Lagos Tech Startups

The Lagos State Employment Trust Fund, LSETF, has announced ‘Lagos Innovates’, a series of programs designed for the benefit of technology- and innovation-driven startups in Lagos State.

By providing access to high quality infrastructure, learning, capital and networks, Lagos Innovates hopes to cement Lagos’ position as the leading destination for startups in Africa.

Lagos Innovates is throwing its weight behind Lagos-resident founders and Lagos-based high impact, scale potential startups in smart ways, drawing from the experience and successes of similar government-led initiatives like Startup Chile, Startup India and Startup Singapore.

Recognising that collaboration and network-building are key to meaningful innovation and creativity, Lagos Innovates has launched with three programs that are designed to deliver value through Lagos’ numerous co-working facilities.

Lagos-resident founders and operators of co-working spaces and innovation hubs will be able to apply for one of Lagos Innovates first three programs: Workspace Vouchers, Hub Loans and Events Sponsorship, through open, merit-based, online applications processes. In the first half of 2018, additional programs will follow, including a scale-up accelerator program, a co-investment scheme and a second, learning-focused, voucher scheme.

Speaking on the development, the Executive Secretary of LSETF, Akintunde Oyebode, said: “Lagos has perhaps the most exciting startup ecosystem of any city in Africa. 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. Through Lagos Innovates, H.E. Governor Ambode is delivering on his January 2017 promise to support this community in smart ways.”

To learn more about Lagos Innovates, please visit the website at http://lagosinnovates.ng/



Idris Aina
Idris is a media and communications professional with keen attention to details. An entertainment enthusiast, he is an ardent fan of the team from the Red Side of Manchester with love for football banters. He tweets with the handle @arlomah.