The Lagos State Government on Tuesday gave out a total of N100 million grants to 23 innovators and technology firms as research grants. The awardees were urged to make judicious use of the grant to transform their ideas into reality.
The governor in his remark at the of the Lagos State Science Research and Innovation Council (LASRIC) grant award ceremony, said his administration had in December 2019, seven months into the tenure of his administration, inaugurated the LASRIC with a seed fund of N250 million, in demonstration of his commitment to developing Lagos into a 21st-century digital economy and Smart City.
Governor Babajide Sanwo-Olu said at the award ceremony in Ikeja that the grants were to enable the beneficiaries pursue various technology-driven innovations across the six pillars of the T.H.E.M.E.S agenda of his administration.
Sanwo-Olu added that the 23 recipients were the first set to be picked to benefit from the N250 million seed capital earmarked in 2019 as research and innovation fund. The awardees were selected through a competitive process overseen by the Lagos State Science Research and Innovation Council (LASRIC); established in 2019 by Sanwo-Olu.
Equally important, LASRIC has the mandate to facilitate and encourage the development of innovative solutions to solve local problems, using cutting-edge technology.
The Lagos governor congratulated the successful awardees of the research funds. Further, he urged them to apply the grants judiciously to transform their ideas into reality. Sanwo-Olu said his administration was born with the sole aim of solving contemporary challenges facing the state.
He noted that the grant was initiated with the objective to empower local innovators and thinkers; with knowledge of context and peculiarities to create specific solutions for local challenges.
‘‘Last December, we inaugurated the Research and Innovation Council with a seed fund of N250 million; in demonstration of our commitment to transform Lagos into a 21st century digital economy and smart city.
”The body has a mandate to facilitate investment in science research, innovation, STEM education throughout the state and to encourage the development of innovative solutions to problems, using cutting-edge technology.
‘‘We are here today to match our words with action; by handing out grants from the LASRIC to successful applicants. We believe in Lagos-supported solutions for Lagos-specific challenges. With the awarding of the grants, the responsibility now firmly rests on the recipients to justify the opportunity,” Sanwo-Olu said