Babajide Sanwo-Olu provided N250 million seed funding for tech startups at the Art of Technology 1.0. The governor spoke extensively on what the funds should help them achieve.
Art of Technology 1.0 is an avenue for bridging the gap between the government and technology industries. The two-day event runs between 5th and 6th December 2019. This is because it seems like there is a disconnect between the two entities. It is a “design thinking talk shop”, as described by a Tech Cabal article.
Mr. Victor Gbenga Afolabi, the curator of the setup explained its mission. He is also the founder of the Eko Innovation center. He said:
“The government has always known that we need the ecosystem to leapfrog and create that 21st-century economy that Mr. Governor has always talked about in turning Lagos into a smart city.
The ecosystem also needs to engage with government such that they enjoy the kind of patronage, access, and funding that can make them do what they do best which is creating enterprises.”
On the first day of the event yesterday, Lagos state’s governor made the funding announcement. Babajide Sanwo-Olu mentioned that the state government has set aside a sum of $687,000 for the Lagos State Science Research and Innovation Council (LASRIC).
Prof. Oluwatoyin Ogundipe, Vice-Chancellor of the University of Lagos will chair the LASRIC. Additionally, he said Lagos residents should seize the opportunity created by the event and meet investors and innovators.
At the event at Oriental Hotel on Victoria Island, Governor Sanwo-Olu said this fund is slated for Information and Communication Technology research. Parts of his speech reads:
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“There is no gainsaying the fact that any society that wants to be reckoned with on the global stage must be grounded in the application of technology to growth and development.
It is gratifying to note that the world has accepted that Lagos as the Silicon Valley of Africa with major investments by Microsoft and Google in the Ikeja-based Computer Village and emerging tech hubs, which have served as launch pads for the digital careers of numerous youths in software development.
To further expand the opportunities, we are immediately earmarking seed capital of N250 million into Lagos State Science Research and Innovation Council to be accessed by tech entrepreneurs and software developers in innovation ecosystem for them to create various solutions from artificial intelligence to robotics, to health informatics and green energy.”
The governor also launched the Open Government Initiative, Innovation Master Plan and Lagos State Solution Hub.
Art of Technology 1.0 is a well-attended event. About 2,000+ people took part including representatives from Google, Microsoft, Co-Creation Hub, Passion Incubator, and BudgIT Nigeria. Also, 5 commissioners, government agencies and private sector representatives, as well as major tech individuals attended.
The funding would go a long way when set on the right path.
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